Contract Compliance

The Contract Compliance (CC) system enables a full compliance framework to identify overcharges or overpayments prior or post payment. It ensures contract terms originally negotiated for indirect/ GNFR expenses or key contracts actually occur.

The CC system is a secure web-based and centralised contract management system providing secure visibility of all critical contract terms.

The CC system automates the detailed cost checking of invoices; supplier queries workflow and transaction approval process with the click of a button.

In addition, CC creates insights and opportunities to reduce spend and improve contract terms.

CC ROI:

  • Centralised location for all contracts
  • Automate invoice line item cost checking against contracts
    • Error identification: 0.5% - 1%
    • Spend optimisation opportunities to reduce spend: 1%-5%
    • Ensure invoices are compliant against contract terms
  • Available for a few large complex contracts through to hundreds of contracts
  • Supplier queries workflow

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.
Chief Financial OfficerMajor Australian Retailer

Contract Compliance Overview

Do you require cost checking only or a full compliance system? CC technology is offered in modules as a Cost Checking system or as a full end to end Compliance system including journals to your finance system and accruals.

Contract Compliance System Modules: