Appendix 3Watch Your Service Bills!
In December 2003 PriceWaterhouseCoopers settled charges that it had over-billed clients in the US amounting to hundreds of millions of dollars by not passing on rebates received from travel agencies. At the time of writing this book, class action suits related to invoicing were still pending against KPMG, Ernst & Young and legal firm Ogilvy & Mather. Companies and other organizations spend enormous sums on services. It is reckoned that the average company today spends 33% of total external expenditure on services, which encompasses process outsourcing, consultancy advice and legal services. But this figure can vary widely. For financial services firms it can be as high as 80% of external expenditure. Services ...
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