Executive Summary

Summary

You may have read an article that talks about huge savings from a program, but do you know if they are true? Suppose, you have a new tool that can save 10 minutes a day that is 3650 minutes a year in a 7 day operation. The vendor can claim 60 hours of savings or $3000 of savings at $50 an hour. This savings is theoretical and based on a formula and called Phantom savings. These savings is good, but will not be traceable to the budget and the books. Most people outside the accounting confuse phantom savings and real savings. Real savings flow to the accounting system and appear on the books. Phantom savings may appear on reports. 


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