Contract Compliance Audits
Contract Compliance audits identify all rate errors and service type errors within invoices.
Contract Compliance Audits enable clients to have full compliance framework to check invoices at line item level against agreed contract terms to identify overcharges or overpayments prior or post payment.
Clients typically use the compliance audit for indirect or Goods Not for Resale (GNFR) vendors.
Contract Compliance Audit ROI:
- automate cost & service checking invoices against contract
- prevent overcharges and overpayments
- recover past overcharges
- terms optimisation opportunities identified
Contract Compliance Audits provide an understanding of system and process effectiveness and the accuracy of your invoice approval and processing.
Contract Compliance audits highlight opportunities exists to reduce spend and improve contract terms.
Clients can use CC system during the audits.
Large Retailer checks all Freight invoices with CC
We have engaged Profectus for over 10 years to provide a full range of compliance audit services including AP audits and Merchandise audits. We needed a solution to manage the checking of all invoices for our 40 Freight vendors to ensure we are not overcharged.
Profectus CCS has automated the cost checking of hundreds of invoices against all contract terms at consignment level including automated invoice capture, cost checking, SAP journal preparation and accrual processes.