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

3 reasons why a DIY approach to supplier invoice and contact compliance doesn't add up

In today's competitive business landscape, every dollar counts. Ensuring that every cent spent with your suppliers is accurate and recovering any overcharges is paramount for safeguarding your bottom line. You might be wondering why you can't handle it in-house. Well, let's dive into why "Profectus it" is the way to go.

When it comes to managing complex supplier contracts and auditing convoluted invoices, sure, you could definitely manage it internally, but at what cost? After more than 20 years of honing our expertise in this field, we've learned that most organisations simply don't have the time, resources, or specialised knowledge required to do it effectively. This exposes them to unnecessary financial risks.

Here are three compelling reasons why we always recommend outsourcing your profit protection to professionals, like Profectus, instead of opting for a DIY approach:

1. Specialist Data Collection and Ingestion Experience

While collecting and ingesting data might seem straightforward, it's crucial to not only gather data but also process it from various sources including ERP and AP systems, but also in various formats, like Excel, Word, PDF, and even emails. Attempting to do this without expertise is like trying to climb Mount Everest without proper altitude training – an uphill battle fraught with challenges. With over two decades of experience in the field, we have the knowledge and expertise to not only collect but also effectively process data in all these formats.

2. Supplier Contracts are Complex and Industry-Specific

Every industry and supplier vertical, whether it's waste management, freight, or electricity, has its own unique intricacies in terms of contracts, fee structures, and charges. Just as you wouldn't seek family legal counsel for complex contract law or immigration matters, it's unwise to entrust your supplier contract and invoice audits to analysts who lack deep industry-specific knowledge.

3. Preserving Supplier Relationships Throughout the Recovery Process

By outsourcing profit protection to a third-party professional, you can rest easy knowing that your supplier relationships will remain intact throughout the recovery process. Our extensive client portfolio, decades of experience, and established relationships with major suppliers ensure that the recovery process will be a positive experience for all parties involved.

We're uncovering missed supplier claims and invoice overcharges every day for our clients. In fact, last financial year alone, we uncovered $72M in lost revenue for our clients that would have simply gone unnoticed. Ready to elevate your profit protection game? Reach out to us today!


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