COST SUMMARY REVIEWS
ENSURE ACCURATE PAYMENT
Cost Summary Reviews are typically used in a large project environment when invoice volume is low and contract complexity is high. It is an iterative process of agreeing with your supplier what charges will be on a future invoice before the invoice is generated. This method is most effective in the early stages of a project to identify gray areas in contracts at the inception of a project.
CPRS can support your project controls staff by vetting and validating charges your supplier intends to issue on upcoming invoices. CPRS offers staffing arrangements or full management of billing validation projects to help clients operate efficiently. With our experienced team, clients can benefit from reliable and efficient support without hiring additional personnel. We understand our clients’ unique needs and provide customized solutions to meet them.
We help unlock more value by:
» Identifying discrepancies in accounts payable.
» Investigating and detecting root causes of errors.
» Recovering overpayments, credits and rebates.
» Improving contract compliance and processes.
» Preventing future leakages and fraud.
- Contractor provides detailed support of charges for
review before an invoice is presented for payment.
- Iterative process to resolve discrepancies.
- Typically used in a large project environment.
- Low invoice volume against complex agreements.
- Significant contract knowledge required by the reviewer.
- Minimal impact on P2P cycle time.
- High retention rate of findings.
- No settlement risk.
- Supports real time process improvement.
Prevents the issuance of an inaccurate invoice.
UNLOCKING MORE VALUE AND
PREVENTING FUTURE LEAKAGES
Our CPRS team is ready to roll up our sleeves and work with your team to find answers on your next project.