Contract Compliance

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Contract Compliance Fact Sheet

“We have employed the services of Revenew International for approximately two years. During that time, they have performed a number of contract compliance audits. Their professionalism along with the thoroughness of their audit work and attention to detail, is unparalleled. “

-Audit Director,
Fortune 500 Energy Company

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.

 

Engagement Profile

  • Detailed review of expenditures, contract terms and conditions on selected agreements with key suppliers/contractors
  • Line item review & analysis of invoices, monetary transactions, purchase orders
  • Price and volume validation
  • Confirm contract provisions are accurately translated
  • Identify and implement cost reduction and cost improvement strategies
  • Identify and secure receipt of funds, credits, business concessions and contract improvement credits