A recent article from SpendMatters.com provided several pieces of advice for companies of all sizes to use when attempting to maximize efficiency in negotiations with audit and accounting firms.
In addition to this step, companies should attempt to negotiate rates and hours, not just a total fee level, when dealing with third-party firms. For instance, a company that successfully negotiates a 5 percent rate discount, even if a firm's hours of service increase, is still a 5 percent fee reduction from the previous year's fees. Looking at gross fee levels, according to the article, may allow companies to miss out on opportunities for savings.
The article also believes companies that look for low-cost methods to offer their firms to increase value can also result in better savings.