RECOVERY AUDITS
RECOVER YOUR PROFITS
Every Time.
Vendor Recovery Audits rely on your company formally
invoking the audit rights clauses contained in your
vendor contracts after the work has been completed
and paid. CPRS identifies the relevant invoices related
to routine run and maintain work or project work and
compares those invoices to the commercial terms
contained in the related contracts. Discrepancies
(findings) are aggregated and presented to vendors
for resolution.
In addition to the direct audit services provided, CPRS can also negotiate discrepancies with your vendors or support your staff in the negotiation to recover overbillings paid to your vendors.
METHODOLOGY EXPLAINED:
- Review occurs after payment and during audit rights period.
- Performed at management level.
- Requires negotiation of findings typically resulting in 50%
retention, sometimes more. - Contractors consider projects to be complete upon completion of the work, not when the audit is performed.
- Typically performed on active or semi-active vendor pool.
- Process improvement is dependent on length of term of audit rights.
Recovers lost money already paid.
OTHER CONTRACTOR BILLING VALIDATION PROCESSES:
» Active Invoice Review
» Cost Summary Review
UNCOVER, RETRIEVE, AND
MINIMIZE OVERPAYMENTS
Let's Chat.
Our CPRS team is ready to roll up our sleeves and work with your team to find answers on your next project.