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Challenge

Disconnects in P2P cause contract non-compliance. An audit can find and recover the overpayments.

<

33

%

Transactions comply with contract terms1

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

1Aberdeen Group; Best in Class Performance in Contract Management

£

30

M

Identified in overbillings2

Overpayments against contract terms related to excessive margin, shared services and depreciation billing. The contract compliance recovery audit found the money.

2apexanalytix contract compliance audit for food service supplier

$

2.2

M

Labor hours and equipment overbillings3

Uncovered in a contract compliance audit, billed by several of the company's construction suppliers.

3apexanalytix contract compliance audit for industrial manufacturer

Root Causes

Monitoring compliance to contract terms is difficult. We know where to look for mistakes.

We work with procurement/sourcing, accounts payable, and your suppliers to collect, and organize documents and data to uncover potential.

Contract compliance recovery audit uses warehouse data.

Price index

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

Robotics at work in a factory

Cancelled services or products

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

Two people looking at an order on a clipboard

Quality non-compliance

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

A woman with glasses looking at a computer monitor

Missed discounts and rebates

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

Shipping containers and trucks

SLA non-compliance

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

Three people walking in a warehouse where contract compliance recovery audit can find information

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 it comes to managing contracts and ensuring compliance, there are often hidden opportunities for cost savings and process improvements. This is where a contract compliance recovery audit can be beneficial – by thoroughly examining the clauses, conditions, and fine print of your contracts, you can identify areas where you may have overpaid or missed out on potential discounts.

 

However, conducting a successful contract compliance recovery audit requires collaboration with all parties involved. This includes not only your company’s procurement team but also your suppliers. By working together and obtaining the best data and documentation from both sides, you can ensure a thorough and accurate audit.

 

Transparency is also crucial in this process.

Are you keeping up with today's "gig" economy?
Two contracts being compared in a contract compliance recovery audit
Features

Different. Better. Collaboration is the key.

Features

Six reasons apexanalytix contract compliance recovery audits are highly effective and productive

deeper auditing with contract compliance recovery audit

Deeper auditing, parntering with suppliers

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

A transparent contract compliance recovery audit

Speed, audit technology, and clarity

A visual dashboard streamlines audit management, information requests, exception tracking, project management, and reporting. Our auditors utilize it to gather data and facilitate communication for a more efficient process. So they can quickly resolve discrepancies or issues.

Cash-Team

Our "A" team

Our team comes from the largest contract compliance recovery audit companies, the most recognized management consulting firms in the world and from the best mix of disciplines.

Read about our practice leader.

contract compliance recovery audit plus AP audit and supplier management software

The broadest context

Besides the contract compliance recovery audit, 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.

Flexible pricing for contract compliance recovery audit services

The best value model

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.

Global 2000 companies do contract compliance recovery audit

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

The largest companies in the world work with apexanalytix for contract compliance and other recovery audit services to identify gaps and return funds to the business.

Related Overpayment Services And Technology

Get All The Potential

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

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

Read More
Funding

Accounts Payable Recovery Audit

Besides bringing in recovered money to your bottom line from duplicates, statement credits and debit balances, an accounts payable recovery audit can tell you which controls are working, where the gaps are and how you can fix them.

Learn more >

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 with an unclaimed property recovery audit.

Learn more >

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.

Learn more >

Duplicate Payments

Overpayment Prevention

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

Learn more >

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.

SupplierMgmt_
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 250M+ 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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