A contract compliance audit is designed to ensure that you have been accurately charged and have received your full entitlements under established vendor/supplier agreements. In fact, every interaction with external vendors or businesses is somehow covered by a contractual agreement. Are you confident that your business is adhering to every term and being paid—and paying—accordingly?
After contract execution, limited time and information are available to confirm that agreement terms are accurately translated into billing and payment transactions. This is where our services come in. We will identify the errors by conducting a detailed line item analysis of contracts, invoices, payment transactions, and purchase orders.
Depending on your needs, the scope of this audit can include a review of the following:
- Outsourced services
- Staff augmentation
- Engineering
- Contractors/Construction
- Third party labor
- Technology, Equipment, and Software
- Food Services
- Raw materials
- Maintenance/Repair supplies
- Environmental services
- Industrial gases
- Security services
- Office supplies and equipment
- Fleet
Our efforts translate into hard dollar recovery of overpayments, removal of inaccurate charges from future invoicing, cost reduction strategies, and improved contract terms—which all add up to reduced overall operating expense and increased earnings.