How to read invoices so you don't overpay
At Civil Strategy, we often see how small amounts on invoices turn into serious losses. We analyzed the expenses of 47 of our clients to point out where it is easiest to recover financial liquidity.
The problem of dead subscriptions
Most small companies in Poland have at least 3-4 active software subscriptions that are no longer used by employees. During an audit for one of our clients in Łódź, we discovered 12 unused CRM system licenses that were costing the company a total of 840 PLN per month. That's 10,080 PLN thrown down the drain annually.
The rule is simple: once a quarter, make a list of all automatically renewing payments. If no one on the team has logged into the tool in the last 60 days, it is likely redundant. We speak directly about profits – such a simple verification is often enough to pay for a year's supply of office supplies for a small team.
Fixed service costs and their verification
Accounting services or technical support are often billed as a flat fee. After 2-3 years of cooperation, the scope of work often decreases, but the fee remains unchanged. In one case, when changing internet providers, a client paid for 14 months for a connection speed that was only available in a more expensive package, even though they were really using a slower connection.
Always check whether the current market offer is more favorable than your current plan. We focus on clear rules – if your business partner hasn't proposed a discount despite a drop in turnover, it's a sign that it's time to renegotiate contract terms. Trust is built on facts, not on long-standing habits of high bills.
Trust is built on facts, not on long-standing habits.
Rounding errors and bank commissions
Commissions for instant transfers and company card handling might seem marginal, but with 150 operations per month, they add up to substantial amounts. We observed that changing the bank tariff to one that offers free SEPA transfers at a larger scale saved our client 2,340 PLN in the third quarter of 2023 alone.
We organize the power structure in the company, starting from expense control. Designate a person who once a month checks the bank statement for unnecessary extra charges. Often, it is the banks that automatically add insurance or premium options that are completely unnecessary in your situation.
How to implement an expense control habit
You don't have to spend whole days on it. Introduce a procedure where every invoice over 500 PLN requires your signature or a short email approval. This isn't a matter of lacking trust in the team, but of caring for the financial health of the entire enterprise. At Civil Strategy, we recommend allocating a maximum of 2.5 hours per month to this process.
Start by downloading your statement for the last 3 months and circling all recurring items. If an item brings no value to your daily operations, remove it. If you have doubts, call us – we will analyze your costs as part of a standard consultation.
