Retrospective Contract
Compliance Audits
This service has different names, but the process is the same: We look for overbillings (contract leakage) in our client’s major suppliers. Our auditors will look at everything from payroll tax reconciliations to employee per-diem. We assess one supplier’s complete billings for the past 3-5 years and verify it is compliant with the contract. We make sure the billings are adhering to the contract. Once we find overbillings we address them with the supplier, recover necessary funds, and help develop a plan for preventing the overbillings from happening in the future.
Supplier Accounts Payable Reviews/Accounts Payables Audit
A Supplier Accounts Payable Review is different from the contract compliance audit in that we assess almost all of our client’s suppliers at a very high level. We are looking for a few things: unapplied credits, overbillings, and duplicate payments, etc. This is accomplished through statement calls and auditing the client’s A/P.
Because our team includes both auditors and consultants, we offer many services to our clients that help ease the burdens of supplier management. This general area of work falls in the “if you have a problem we can probably fix it” category. Examples include:
Contract Language Consulting. Before signing a very expensive contract, we can review it to eliminate ambiguity and add needed clarity. Because we audit contracts years after execution (when no one remembers the intent) we know where the common issues arise. We clarify the contract before disputes arise. Besides conducting a red-line review of your contracts, we can also offer training to empower you to find these issues on your own.
Audit Consulting. We can help you implement your own Contract Compliance Audit or Contract Administration program. We transition seamlessly from conducting your contract compliance audits, to preparing you to conduct your own. Our philosophy of coupling the auditing services with the consulting services is preparing you to own as much of the process as you want.
Real Time
Supply Chain Consulting or Internal Audit Consulting
Contract Administration
Often, our audits reveal issues that lead to our client overpaying, and though identified, the client does not have the resources to prevent these issues from recurring. Contract Administration is the fix to this problem.
We implement contract administration. We combine the efforts of auditors and consultants to identify, recover, and fix contract leakage issues. The contract administration program includes real-time invoice monitoring, “issue” tracking and project planning, scorecarding, implementation of best practices, and ROI analysis.
Our contract administration program can be a stand alone operation, or supplement your current program.