In the early 1980s, my father, Robert “Bob” Friedbauer, opened his accounting practice to service businesses of all sizes and individual tax clients. While my father was meticulous in his work, what truly set him apart was the way he built relationships and trust for more than 40 years in our family business. I still remember walking into his office and hearing him talk passionately — not about numbers, but about fishing trips, family challenges or simply lending a compassionate ear to his clients. When you stepped into that office, you were greeted by a neshama, a soul who genuinely cared about you. And often, his 100 pound golden doodle would add a touch of warmth and hominess to the professional setting.
Growing up in that environment instilled in me values that went far beyond number crunching.
My father’s focus on caring for people guided my own journey. While he specialized in tax accounting, I pursued a career in CFO and controllership services, helping organizations navigate complex financial challenges like M&A transactions, IPOs, and LBOs. Over time, one particular experience inspired me to launch my own consulting firm — one dedicated to uncovering hidden savings while preserving a company’s most valuable asset: its people.
A Defining Moment
About three months before the December holiday season, I received notice that two of my team members were slated for layoffs. The thought of facing a winter audit without these stellar employees, and the idea of delivering such devastating news just weeks before Christmas, was unbearable. I dove into the challenge, scrutinizing every budget line to find a solution that would save these jobs. After hours of dedicated work, I developed a plan and presented it to my superior. In the end, my proposal not only kept our team intact but also saved the company $2 million.
Building My Consulting Approach
Motivated by the desire to make a broader impact, I began investigating methods that would focus on uncovering hidden expense savings and increase cash flow in organizations. Through my journey, I noted that many organizations overspend on indirect costs, such as office consumables, insurance premiums, payroll, small package delivery, software subscriptions, merchant card processing fees, telecom, utilities and more. These non-core purchases are typically high volume (i.e., many invoices) but individually small in value. Sometimes, the cost of processing invoices might even exceed the value of these goods and/or services.
In business settings, this concept is referred to as “tail spend.” Tail spend is the amount an organization incurs on purchases that make up approximately 80% of transactions but might account for only 20% of total spend. Due to a lack of time and perceived importance, these transactions can be harder to manage and focus on, but they are an area that can often yield significant savings. It is for this reason that I chose to start an ERA Group practice in our community.
At ERA Group, we often liken the unlocking of savings within an organization to solving a puzzle bank. Unlike a traditional piggy bank that simply holds coins, a puzzle bank requires careful alignment of its pieces to reveal the hidden treasure. In our work, we examine every element of an organization’s spending and align the financial pieces until the concealed savings emerges.
We service clients in all types of businesses (hospitals, colleges and schools, charities and nonprofit organizations, retail, manufacturing, technology, etc.), as there is no shortage of industries and/or organizations that can use our services.
Continuing a Family Legacy
Launching my own consulting firm in Bergen County was a natural extension of my commitment to helping organizations maximize their resources. Every cost-saving success isn’t just a financial win; it’s a continuation of the legacy my father instilled in me (and his father within him, as my grandfather, Frank, was also an accountant) to truly understand a client’s needs and work tirelessly to help them succeed. One of the most rewarding aspects of my work is watching clients reinvest their savings — whether to fund new initiatives, expand their mission, improve service delivery, or reinvest in their workforce. There’s nothing more fulfilling than knowing that the savings we unlock can help protect a workforce and secure a company’s future.
If you’re curious how we might do this using a “No Savings, No Fee” model, let’s connect to explore your business or organization. As a leading international cost consultancy company, ERA Group harnesses the expertise of over 1,000 consultants to empower organizations, foster a competitive edge, and increase cash flow.
Levi Friedbauer holds an MBA in professional accounting from Northeastern University and a B.S. in engineering science from the New Jersey Institute of Technology. He has been a certified public accountant since 2004. You can reach him at (201) 478-1271 or lfriedbauer@eragroup.com.
