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My AI Agent Found $4,200 I Didn't Know I Was Losing

My AI Agent Found $4,200 I Didn't Know I Was Losing

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My AI agent just found me $4,200 a year in payroll fees that I didn't know I could negotiate. Now, mind you, that $4,200 is from one vendor. And honestly, I wasn't even looking for that. I was looking at something completely different. So if I'm here to tell you that I'm surprised about something, I'm happy that I just found $4,200. Let me explain what's going on.Welcome to Fix My Business, the show that helps you fix your business. I'm your host, Scott Todd. I have built multiple seven-figure businesses after leaving my Fortune 300 VP job. And today I want to walk you through two of the experiments that I've been running on this channel. And I'll kind of give you some updates because I can't stand when people run experiments or they tell you something they never get back to you. So here we go. Experiment number one.I talked about it in last week's episode, and it was using AI to do my bookkeeping. And I told you at the time that I was running parallel systems, my CPA versus AI. Which one was gonna battle it out? And essentially I'm happy to report to you that the September run, if you will, was smooth for well, both of them. I mean, the CPA did what the CPA does.And the AI does did what the AI did. Now, here's the difference. My C EPA has years and years of experience with knowing how to code my transactions. And so the rules are built in. Whereas AI needed help more frequently with coding the transactions. But here's the thing. Every day, Monday through Friday at 8 a.m. or thereabout, I would get an a message from myAI bookkeeper who would say, Hey, here's yesterday's transactions. How should I code them? And in the beginning, I needed to give a little bit more, but by the end of the month, it was really doing a great job of suggesting what the coding should be. So it became less and less of like, hey, code it over here versus just scanning it and saying you're good to go. And then it started to pick up on some.Scott Todd (02:29.698)well-established rules like, hey, when we get revenue into the bank account, well, then that's just revenue. when we have certain expenses like payroll, boom, it just hit the payroll. When we paid our VAs, it knew their names and it hit them as well. And it just started even not even recommending anything to me. It just did it. And so at the end of the month, when I compared the revenue and expenses from the CPA and the AI, what happened wasThe revenue and the expenses aligned. It matched as you would expect that it would. Okay. Now, there were some transactions that were coded differently. The CPH coded them one way, the AI coded the other. And I don't really believe that that is a deal breaker. And the reason it's not a deal breaker is because it's not necessarily that the coding has to be exact and precise. So when I say coding, what I mean is.That if I spent the money on software, that it's coded software, or if I spent the money on travel, that it's coded travel. It helps a great deal, especially if you're comparing year over year, or you're comparing different transactions, or you're looking at different categories. That's important. But at the end of the day, the most important part is that the revenue and the expenses total the exact amount, right, of profit, right? That's what we're looking for. Now, here are some of the differences though.First of all, the AI agent got me my financial statements much faster than the CPA did. In fact, I had the financial statements on the first day of the month from the AI. And it was well after that that I got them from the CPA. So the human involvement of looking at it faster to me was through the AI. Clearly, the lower cost option is the AI. The AI, I don't really know what it cost me.Because I'm just on a subscription and it's using like my grok bot subscription for 200 bucks a month. And clearly that was just some fraction of it, but way less than what I spend with my CPA. But the one clear difference that I found was the thing that kind of surprised me the most. And that was the fact that my AI agent began suggesting to me cost savings.Scott Todd (04:54.796)Now, some of them I just dismissed. Like, yeah, no, it's good. I'm I'm okay with this subscription, but it began to look at my subscriptions. And then it brought to my attention something that I was really surprised about. And here's what it was. I pay my payroll company. I have multiple businesses, so they each have their, they each have a payroll account with this company. And I pay them a fee every time we run payroll.So I think on one company it was like $140 a month. And the other was a hundred, I'm sorry, $140 per pay period times 26 pay periods. And on the other company, it's like 106 times 26. That was what we were paying. And the AI looked at that and said, Hey, I think you have a cost savings here. And I was like, What do you mean? And they said, it said, Hey, there is a lower tier plan.that you're avail that you qualify for if you're not using these other ...
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