Contract Compliance Audit Services

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  • #292040
    1. Has your company ever engaged a contract compliance audit services vendor? (audit contracts for pricing compliance)
    2. If so, what spend categories did you have audited?
    3. Were the refunds significant?
    4. What contract compliance audit vendors do you recommend?

     

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    #292662
    Anonymous
    Guest

    We have used Revenew International for contract compliance work and smaller local firms for ongoing invoice reviews. We have focused audit efforts on Maintenance, Repair and Operations spend. Refunds run about 4-6% of dollars audited.

    #292663
    Anonymous
    Guest

    Thomas P. Bennett
    Chief Operating Officer, in3corp
    [email protected] | http://www.in3corp.com
    Boulder, CO USA | phone: +1 303 448 1191 x102
    fax: +1 866 646 1506 | mobile: +1 303 847 5514
    skype: tom.bennett.boulder

    #292664
    Anonymous
    Guest

    1- Audit contracted price vs. actual billing
    2- Audited contracted billing vs. actual billing, i.e. if we were contracted to get a payment for quick discounts did we get it
    3- Audit (benchmark) our price vs. other companies prices for the same service
    4- For the first two we usually looked a high transnational, high volume categories such as office supplies, facility services or telecom
    5- The third example have tended to be more industry specific usages. Certain software packages, professional services
    6- I don’t have any firms to recommend but except for a few instances these have all been done on a contingent basis

    #292665
    Anonymous
    Guest

    1. PwC
    2. Construction, IT, Supplies. Refunds were not significant.
    3. None

    #292666
    Anonymous
    Guest

    1. Yes, we currently have a vendor providing contract compliance audit services. We have used an outside partner for several years and have employed internal, designated resources, periodically over the last 5 years.
    2. We have audited a wide array of spend categories, and in some instances, the refunds reached $1M. However, the recovery spectrum can vary significantly depending on the audit findings and the vendor’s spend total and profile. For example, successfully audited groups include:
    Shared & Corp Services, IT, Environmental, Professional Consulting Services,
    Gas & Electric Operations Services and Materials, Transportation, Staff Augmentation, Engineering, Construction
    3. Currently, we are partnered with Revenew International, LLC. While I am familiar with other CCR firms, I find Revenew to be quite professional.

    #292667
    Anonymous
    Guest

    Most of our audits encompass pricing, Time of Staff, order compliance etc..
    We audited Advertising, PR, etc. We used AARM. The funds recuperated more than paid for the audit. All preferred suppliers with a large spend should be audited every 3 years from our perspective.

    #294811

    Our experience was positive.  Care should be taken if you’re trying to audit strategic suppliers.  Audit is good with leverage segmented suppliers.  

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