In this week's issue...
Start with your AP export
Before you renegotiate anything, take inventory of what you already spend
Export a vendor spend file from your accounting system... QuickBooks, NetSuite, Sage, Xero, whatever you use. 12 months is usually enough and sort by dollars, not alphabetically. The goal is a clean list of who gets paid, for what, and how often
A few practical checks while you have the file open:
Categories. Are telecom, parcel, waste, insurance, and software each clear... or is a lot of spend sitting in "Miscellaneous" and "Other"? Vague buckets hide the lines worth a second look
Renewals. Note contract end dates and auto-renew windows. A rate fight six weeks before renewal is different from one after the term already rolled
Year over year. Pull the same vendors from last year. Where did unit cost or total spend climb without a matching volume story? That gap is often the first conversation
If this feels like it takes a lot of time, it does... but it can be worth it!
The opportunity cost of not knowing your spend is usually larger than the hours it takes to map it. And if you'd rather spend those hours running the business, find time on my calendar and I help you see where the real opportunity is 💰
Bring Your Bill Round 2 @ East Rutherford 🍻
The second instance of Bring Your Bill comes to East Rutherford next Thursday, and we hope to see you there!
Thursday, Oct 15 · 6–8 PM (come anytime)
The Union Bar & Provisions · 170 Union Avenue, East Rutherford, NJ
Complimentary drinks + a free bill review!
Bring a statement, contract, or service agreement, or upload ahead of time. Professional feedback in 2–3 days. Free, with no obligation
Onwards and Upwards,
Joe Lapscher
Partner, ERC
Why you're getting this:
You're receiving this because we've met at a networking event, worked together, or signed up for my newsletter online, which I really appreciate.
I send 2-4 emails a month with practical thoughts on expense reduction, plus the occasional heads-up on something like this webinar. I respect your time and inbox.