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What is an Egyptian Business Product Audit & How Does it Work in 2023?

February 17th, 2021 | 5 min. read

What is an Egyptian Business Product Audit & How Does it Work in 2023?

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Are you unhappy with your current office supply vendor? Or do you want to make sure you're getting the best price possible on all the products you need to efficiently (and successfully) run your business?  

If either of these scenarios apply to you, it may be time to consider a business product audit from Egyptian Workspace Partners. By conducting a business product audit, we can help you find better ways to buy all the products you use every single day

As one source for all, your partners at Egyptian are here to guide you in your search for the perfect office supply vendor, whether you decide to go with us, a big box store or another local supplier. Even if you don't choose us, we want to help you to make the best decision for your business. 

In this article, we'll go over what we need to perform a business product audit, exactly how a business product audit works and when you should reach out to Egyptian for a business product audit of your own.

What Do We Need to Perform a Business Product Audit? 

When we put together a business product audit, our goal is to show you all the cost savings available to your organization, but we can't do this if we don't have access to your invoices. 

Invoices are important for conducting an accurate business product audit. We'll take your last three months of invoices (from all the vendors you want to consolidate) and comb through them to highlight ways to help you save money, including hidden costs you never knew existed. 

How Does an Egyptian Business Product Audit Work? 

1. We Identify All The Product Categories You Buy and Use 

Identifying the items you use is arguably the most important step in performing a business product audit. After all, there are so many different products to choose from, and no two customers use the exact same items.

By having access to your invoices, we can offer better cost savings on all the products you use every single day. We'll also be able to identify the product categories you're buying and the products you're not buying. 

For example, let's say your office uses blue pens and the business next door uses black pens. Instead of pricing the black pens because they're always in stock, we want to give you the best price on the blue pens because that's what your business regularly uses. 

In addition, identifying all the products you use can help us pinpoint the number of vendors you're currently using, so we can help you reduce costs, increase your buying power and streamline your ordering process with vendor consolidation

2. We Identify Private Label Products so You Can Save Money without Sacrificing Quality

When we look at your past invoices and orders from current vendors, we also use this as an opportunity to identify the name brands you're buying and find alternative products that can help you save money without sacrificing quality. 

Private label products are a great way to reduce your costs, especially if you're tired of paying more money for name brand products that are practically identical, apart from the label. But, what exactly is a private label product? 

A private label product is manufactured by a third-party company but sold under a specific retailer's brand. Some of the private label brands you'll find on our website are Boardwalk, Innovera, Liberty Laser and Universal Products. 

Of course, not all private label products offer the same quality as their name-brand counterparts, but a lot of them do. If you want to lower costs, here are just a few of the private label products you should consider buying:

  • Binder clips
  • Coffee
  • Folders
  • Paper towels
  • Shipping labels
  • Toilet paper
  • Toner 

3. We Identify Cost Savings and Cost-Per-Use Alternatives

Last but certainly not least, we also use your business product audit to identify all the cost-saving programs and alternatives available to your organization.

For instance, if you mostly use multi-fold paper towels in your restroom facilities, we'll probably suggest hard-wound roll towels or introduce you to our restroom dispenser program, which are two of the most cost-effective ways to clean your hands. 

Additionally, we'll be able to identify products you can eliminate altogether. As an example, a lot of companies are switching to a chemical dilution system like the Charlotte Products System, instead of spending money on ready-to-use chemicals that are mostly water.

By buying a chemical dilution system, you can easily clean 95 percent of your building with only two chemical concentrates. Plus, a bottle of Windex priced at three dollars can actually cost you less than 10 cents when you install a dilution system. 

Why Should You Consider a Business Product Audit? 

Ultimately, there are a number of reasons you may want to look into a business product audit. You could be unhappy with the level of customer service from your current vendor, or they could be going out of business. Other reasons may include: 

  • Your prices went up and you want to make sure your vendor is being honest
  • You're now in charge of purchasing and want to audit your current vendor
  • You're ready to reduce overhead costs for your business
  • You're ready to consolidate vendors 

Whatever your reason may be, a business product audit can help you reduce costs, streamline your ordering process and make sure you say goodbye to ordering from multiple vendors, for once and for all. 

Want to learn more about business product audits and how we can help your business save time (and money)? Schedule a consultation with a Workspace Partner today!

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