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Challenge

Disconnects in P2P cause contract non-compliance

You spend a lot of time negotiating favorable terms to save your company money. But contract compliance audits are finding more savings than ever.

<

33

%

Transactions comply with contract terms

Only 30 percent of transactions were compliant with contract terms in eight out of 10 companies surveyed.

£

30

M

Identified in overbillings

A food service supplier overpaid against contract terms related to excessive margin, shared serivces and depreciation billing.

$

2.2

M

Labor hours and equipment overbillings.

For an industrials manufacturer, we identified $2.2 million of overbillings related to labor hours and equipment billed by several construction suppliers. 

Root Causes

Monitoring compliance to contract terms is difficult

AI works on all the documents and data to uncover potential.

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Price index

Where you overpaid on a purchase subject to an established price index.

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Cancelled services or products

Services you cut back on or no longer used when a facility closed, but that you still paid for.

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Quality non-compliance

Those times you didn’t track purchases against volume breaks or established quality standards.

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Missed discounts and rebates

When you didn’t take discounts that you were entitled to at higher licensing tiers, or rebates at negotiated thresholds.

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SLA non-compliance

Product delivery delays and service disruptions that violated service level agreements.

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Purchase order non-compliance

Purchases that bypassed the PO process that never got compared against contract terms.

Solution

Knowing where and how to look makes all the difference.

When we look into the clauses, conditions and fine print of your contracts, we find a lot of opportunities.

 

Collaboration with the suppliers is essential. Getting the best data and documentation – from suppliers and your procurement team – is key.  Due diligence and transparency are critical.

 

As we go through the audit, you and your suppliers and interact via our application to view and act on information requests, and speed resolution in the Exception Memos Dashboard.

Are you keeping up with today's "gig" economy?
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Features

Different. Better. Collaboration is the key.

Features

Six reasons apexanalytix contract compliance audits are highly effective and productive

Supplier Relationships

Deeper auditing, parntering with suppliers

In-depth review of all commercial terms, working closely with your supplier “on-site” when appropriate. Over 200 audit tests and continuously increasing.

Portal Investment

The broadest context

We offer the broadest supplier management services and software solutions in the market.

We are a full partner to achieve your accounts payable and financial services goals.

Cash Team

Our "A" team

We’ve created our team from the largest recovery audit companies, the most recognized management consulting firms in the world and from the best mix of disciplines.

Dashboard

Speed, audit technology, and clarity

A visual dashboard is used for audit management, information request, exception tracking, audit project management, and reporting. Our auditors use information requests and discussion notes as part of our audit process.

Financial

The best value model

We price your way, including fixed and contingent pricing, so you get all the benefits of a thorough management consulting engagement in a pricing model that delivers real, tangible, bottom line value.

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Industries and Regions of the World? We’ve Got You Covered

We’ve conducted audits for the largest energy and utility companies, retailers, technology providers, telecom companies, transportation leaders, pharmaceutical companies, financial institutions.

Related Overpayment Services And Technology

Contract Compliance: Just Half Potential

Overpayments can happen anywhere along the procure-to-pay process.

Partner your contract compliance review with our other recovery audit services. And get it all back.

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Funding

Accounts Payable Recovery Audit

Besides bringing in recovered money to your bottom line from duplicates, statement credits and debit balances, find out which controls are working, where the gaps are and how you can fix them.

Recovery

Unclaimed Property Recovery Audit

There's money out there for all your business entities in states, counties, cities, agencies and even foreign governments. We can help you find it.

Tax Compliance

Sales and Use Tax / VAT Recovery Audit

Our comprehensive sales and use tax audits tame your complex tax challenges. Protect your bottom line and ensure that you pay only what you owe.

Duplicate Payments

Overpayment Prevention

Catch overpayments before they go out the door with the most powerful dulpicate analytics and AI on the market.

Related Solutions

Ultimate Supplier Management

Protect your company's reputation and revenue from the first time you engage with a supplier and throughout the supplier lifecycle.

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Supplier Management

Every. All. 100%

A single, central supplier hub for every supplier, all of your policies and integration with 100% of your source-to-pay systems.

Learn More
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Intelligent Data

Data in. Gold out.

The fastest way to validate and enrich your third-party data with APIs tapping 1,000+ trusted data sources and 100 million company golden records.

Learn More
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Supplier Risk Management

Disrupt the disruption.

Catastrophic disruptions caused by supplier fraud and risk could happen anytime, to any business. Protect yourself with proactive supplier risk management technology.

Learn More
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Audit and Recovery

$9 billion in overpayments prevented or recovered annually.

More insights. More expertise. More supplier intelligence. More recoveries than any other provider in the world.

Learn More
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Customer Stories

Peak performers
pick apex.

Whether long-form webinars or in-person conference presentations, our clients love to share best practices - what drives measurable value - with their peers.

View All Customer Stories

$6M

Recoveries from volume rebates owed, missed discounts and more

Uncovering the hidden costs of contract noncompliance

Pharmaceutical
Read the story.

$2M

In disbursement overages

Using a contract compliance audit to recover overpayments and missed credits

Global Energy
Read the story.
Resources

Want to learn more?

Hundreds of product overviews, reports, customer-led webinars and on-demand product demos.

View All Resources
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Product Briefs

Contract Compliance Review and Recovery

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Product Briefs

Contract Compliance Review and Recovery Brochure

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Reports

COVID-19: 8 Contract Compliance Recovery Opportunities

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Ready to Roar?

Fill out our contact form and we will be in touch shortly to discuss how the apex platform can solve your contract compliance problems.

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