Domestic

Case Studies

BCC identify massive overcharges for UK asset management company

The Client:

Aegon UK is a pensions and life assurance company. Founded in 1831, originally as Scottish Equitable, and eventually becoming part of the global Aegon N.V. in 1994. Their main offices are in Edinburgh Park.

Situation:

Aegon appointed Business Cost Consultants in 2011 to audit and manage water services for the Aegon sites throughout the UK.

Strategy:

Business Cost Consultants performed a full audit of water services charges on behalf of Aegon in order to identify any overcharges and ways for them to reduce their water costs. Following the audit we identified several overcharges. We then undertook intensive research and on-site surveys.

Results:

The initial water audit provided for Aegon suggested several areas for potential water savings and after implementation of these suggestions the annual spend in water has been reduced by 39%, resulting in a saving of £117,379 per annum. The lengthy investigations and site surveys also identified errors in water charges. Initially the suppliers of the water services disputed the overcharges. However, using our technical skills and precedents we were eventually able to win the arguments with the water suppliers. The results so far have produced rebates of £461,739.

“Initially we were cautious about bringing in consultants to review and manage our water services. However, Business Cost Consultants have delivered beyond our expectations. Their specialist knowledge and attention to detail has enabled us to achieve exceptional water cost savings and rebates across our estate. BCC’s management of our water services also allows us to have greater confidence in managing our costs. We are very happy to recommend BCC for their thorough and professional approach.”

David Walker, Head of Property

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