“I Just Pay the Invoice”: The Hidden Cost of Not Auditing Your Vendors - w/ Larry Levine

You negotiate the contract, build the vendor relationship, and pay the invoice. But when was the last time you checked whether you were actually paying what you agreed to? Restaurant operators spend plenty of time watching food and labor costs, but what about everything else? Waste management, utilities, uniforms, linens, insurance, telecom, and all those expenses that quietly add up behind the scenes. In this episode of _Good AP Times_, host Megan Hardy sits down with Larry Levine of P3 Cost Analysis to uncover one of the most overlooked opportunities to protect restaurant margins: auditing what you're already paying for. Larry pulls back the curtain on how vendor pricing actually works, why costs creep up even when you've negotiated a great contract, and how small discrepancies across dozens or hundreds of locations can turn into serious money. And here's the kicker: Just because an invoice matches what you paid last month doesn't mean it's correct. Together, Megan and Larry explore why trusting your vendors and verifying their invoices aren't mutually exclusive, how AP and procurement teams can work together to catch costly mistakes, and why the biggest savings opportunities might already be sitting in your accounts payable system. In this episode, you'll learn: The hidden cost of invoice creep: How seemingly small increases can compound into significant expenses over time. Why "I just pay the invoice" is a costly mindset: The common overcharges AP teams miss when invoices look close enough. The power of vendor benchmarking: Why a great relationship doesn't always guarantee a competitive rate. Where operators have negotiating power: How market conditions, service agreements, and location counts impact pricing. The value of master service agreements: How multi-location businesses can leverage their scale for better pricing and consistency. Why expense auditing requires expertise: How specialized knowledge can uncover savings your internal team may not have the time or resources to find. From fuel surcharges and waste pickup schedules to contamination fees, equipment issues, and mismatched contract pricing, Larry shares real-world examples of expenses that can go unchecked for years. About Larry Levine Larry Levine is with *P3 Cost Analysts*, where he helps businesses identify unnecessary expenses, uncover billing discrepancies, and negotiate better vendor agreements. Through industry benchmarking and category-specific expertise, P3 helps organizations find savings in the operating costs they often overlook. The takeaway? You don't always need to sell more to improve your bottom line. Sometimes, you just need to take a closer look at what you're already spending. If you're in restaurant finance, procurement, AP, or operations, this conversation might have you looking at your next vendor invoice a little differently.