Contract Compliance Technology
Human error and a lack of automation on average causes 2.5% overspend. Profectus’ Contract Compliance (CC) technology and service helps prevent overspend.
- Automate compliance checking of complex contracts; rate errors of 0.25% – 1% and service errors of 0.25% – 2.5%
- Lowest level invoice data management compared against contract data
- Invoice and accrual processing into your ERP
- Live auditing of invoices
- Spend Optimisation reporting BI dashboard; reduce spend by 1% to 5%
- Profectus can manage supplier liaison and recovery of errors
- Complements existing Source to Pay platforms (e.g. Ariba/SAP, Oracle)
We can automate your Contract Compliance to make what sometimes seems impossible … simple.
Profectus’ leading CC technology is used by ASX100 companies to automate the compliance of their complex contracts.
CC technology captures lowest level data providing both compliance automation and spend optimisation reporting. CC provides the highest standard of data security – ISO 27001.
Common categories of spend clients automate in CC include freight/logistics, facilities management, contract labour, waste, office supplies, service contracts and maintenance contracts.
BI dashboard reporting to assist with spend optimisation
Drill down to item level and action out of contract spend opportunities
Invoice processing reporting
Key Features of the Contract Compliance Technology and Service
- Complements existing Source to Pay ERP
- Offered as a compliance service for live invoice auditing
- Available for a group of complex contracts, all of category or all contracts
- Profectus can manage supplier liaison and recoveries
- Lowest level data management
- Optional data categorisation
- Rate error rules
- Service error rules
- Category specific rules
- Under and overcharging rules
- Accurate payments and accruals
- Interfaces with all major ERPs including SAP, Oracle, Microsoft
- BI dashboard reporting to assist with spend optimisation and Out of Contract spend analysis
- Option for low level standardised data to be interfaced into existing BI reporting
- Secure fully hosted technology – ISO 27001
- Implementation team and support
Contract Compliance audits identify and recover rate and service overcharges
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