Stopping business margins from shrinking with Profectus

Stopping business margins from shrinking with Profectus

ticker ORIGINALS No Comments

Inflation is causing business margins to shrink, right across Australia. 

Financial erosion may not be a term many people encounter everyday, but its importance to a household and a business cannot be underestimated.

The term covers a range of meanings, but broadly speaking, it has to do with money – knowingly or unknowingly – being spent without thinking about it too much.

Whether it be for your daily coffee that you don’t end up having, a subscription service that you don’t use, or that recurring invoice for a few dollars that you allow every month, it can become a headache in the long run.

And that’s where Profectus come in. The team are specialists at not only stopping financial erosion from occurring, but also recovering the money.

“Last year, we recovered $29 million for our clients across 6,500 issues,” Profectus CEO Chris Hutchins exclusively revealed to Ticker Insight. “And these can arise from things like a simple overcharging on an invoice. 

“It’s recurring and that leads to a big problem. Any business with complex transactions could benefit from our experience.”

SIMPLIFYING THE COMPLEX

Hutchins reveals many of his clients – which span the likes of David Jones, Chemist Warehouse and Barbeques Galore – are now starting to come from the mining sector, due to the complexities that arise.

“We’re fielding a lot of enquiries from the mining sector at the moment,” Hutchins adds. “They are looking to us as a compliance insider to help them with their financial erosion problems. 

“Mining clients have thousands of suppliers and deals that are very complex. 

“And it’s impossible for their people to be across all those transactions. So, that’s where we come in and help.”

Australia is currently going through a period of ‘stagflation’, according to Hutchins, where the economy is stalling but the price of goods are skyrocketing. He advises company begin to control their controllable.

“Focus on the transactions to make sure you’re not being overcharged on cost, and undercharging for revenue,” he says.

MAKING IT FUN

Hutchins also outlines how Profectus can help businesses – and individuals – with their auditing and compliance, phrases that tend to send shivers down the spine.

“People who think that compliance and recovery may not be fun, have never heard of Profectus,” Hutchins discusses. “I think compliance or recovery can actually be fun.

“Or certainly, it can empower people to have fun in their lives. If we do it the way we think it can, through experts and underpinning technology, it can certainly empower people to have more fun.

“Finding issues – when they’re small enough to be fixed, before they can become really large and nasty – can be thought of as fun because you’re avoiding a situation that’s really not fun.

“And equally, working with a trusted partner to deliver long term value can be really rewarding,” Hutchins concludes.

For more information, head to their website.

Leave a comment

Your email address will not be published.