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In this video, Tyler VanWormer, Manager of Supply Chain Consulting at Illumis Global, explains why auditing your construction spend is not only valuable but essential. With 15 years of experience in auditing and finance, Tyler specializes in finance, contractual expertise, and data analysis, helping clients recover millions in lost profits and improve their processes.
Construction spend is often one of the largest budget categories for many businesses, with expenditures reaching millions or even tens of millions of dollars annually. Beyond the direct costs of labor and materials, construction vendors frequently bill for other categories where controls may be lacking. These include unapproved incidental expenses, misapplication of management fees, and the treatment of excess inventory after the project’s completion. These costs are often not clearly outlined on invoices, meaning they can easily slip through the cracks, resulting in profit leakage.
Tyler highlights the importance of reviewing all supporting documents, such as time sheets, work orders, and expense reports, to ensure that no hidden costs are overlooked. Without a thorough review, these unmonitored areas could result in significant financial losses.
By partnering with Illumis Global’s experienced team, businesses can reap the benefits of a thorough utility audit without burdening their internal resources. Watch the full video to learn how auditing your construction spending can optimize your cost recovery.
Working for Illumis for 21 years, Brush has been instrumental in the growth of the company. Brush served as Vice President at Illumis before stepping into the role of President / CEO and has been involved in all aspects of the company’s business throughout his career.
Brush’s approach to his role centers on the motto of Illumis, Bright Ideas for Better Profits. Known for his loyalty, team building, and tough but fair expectations, he empowers employees to deliver, therefore fostering a company culture that ensures customers can count on people.