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News | Profectus Group: Audit, Compliance and Rebate Deal Management

Putting the ‘Special’ in Specialist


Putting the 'Special' in Specialist | Profectus Group

Why solely relying on general software applications like ERPs and procurement solutions is putting the financial health of your organisation at risk?


When it comes to our physical health, it’s common knowledge that some health concerns can rightly be treated by a GP while others require the attention of a specialist doctor who has advanced training in a certain field of medicine. Take a patient that has a heart disease for example – people wouldn’t advise them to see their GP to fix it, rather they’d be referred to a cardiologist who can advise them on the best course of treatment based on their expert knowledge of heart disease.


Yet when it comes to managing the financial health of your supplier contracts and avoiding financial erosion, many organisations fall into the trap of believing that their general software applications like ERPs and procurement solutions are sufficient to do the job. While these software solutions are critical to running a business, just like a GP is considered a generalist in the medical field, these solutions are regarded as generalists in the software world. They lack the specific capabilities required to automate your compliance and protect you from financial erosion. As a result, organisations often find themselves having to supplement these gaps with manual processes (like checking invoices), which not only makes tasks more resource-intensive and time-consuming but highly error-prone, resulting in a lack of control and auditability.


That’s where Profectus comes in. With over two decades of specialised industry experience, we have both the knowledge and the technology solutions to conduct a thorough, automated contract and supplier analysis. We analyse low-level invoice data, compare it against contract terms, and identify errors in each line used to calculate the total billable amount, which generalist software solutions simply can’t do. But our treatment doesn’t stop there. Once we’ve diagnosed the problem, our technologies automate the process of finding areas of loss and identifying where and how you can improve your financial health in the future.


This specialist, tailored approach to managing your financial health has benefited clients across a range of diverse industries – from Australia’s oldest bank to major retailers like Officeworks and resources giants like BP and BHP.


To learn more about how these clients have benefited from engaging Profectus as their financial health specialist and our holistic ‘Prevention is better than cure’ approach, read the full Putting the ‘Special’ in Specialist white paper here.




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