A contract compliance audit identifies invoices you have paid that did not meet contractual pricing terms. Our team of experts reviews per-unit prices charged by suppliers, off-contract spending, contractual obligations to specific clause usage, and billing exceptions to determine if you have paid more than you should and identify any areas to realize savings moving forward.
In short, we maximize recoveries and savings for past, present and future spend.
Stay one step ahead of your vendor agreements with complete visibility and deep contract intelligence. A contract compliance audit helps you author and negotiate smarter contracts while monitoring vendor performance, identifying risks, and unlocking insights to strengthen your supply chain.
We review and evaluate your eligibility for more favorable pricing, confirming that you are claiming all eligible discounts and enhancing your bottom line.
Our team analyzes all rebate amounts and works with your suppliers to recover any additional rebate dollars, ensuring you get the most from your agreements.
We review your master agreement to ensure that it includes a comprehensive contract compliance audit clause, granting you the appropriate information and access duration for a thorough assessment.
Our analysts review language surrounding price changes to ensure that your supplier is providing you with timely notification before increasing your costs, safeguarding you from unforeseen increases.
We will ensure that your supplier is only assessing fees for agreed-upon items and that all superfluous fees (such as pass-through costs) are excluded.
Our client’s technology goods supplier altered prices multiple times during the year, yet failed to consistently update the prices for timely invoicing — resulting in substantial overbilling. The contract stipulated that any price decreases would be reflected on all outstanding deliveries and subsequent orders, but in reality, this practice was neglected.
Additionally, we discovered that the foreign exchange rate used on non-domestic purchases was not consistent with the method detailed in the contract and that purchases for items not on the standards list lacked the stipulated discounts.
Our team recommended process improvements for both the supplier and our client to enhance invoice and invoice verification controls. Additionally, we recommended procedures to streamline the process of updating price changes on both open and future orders.
Our client not only recovered approximately $1.5 million, but they also secured annual savings of around $100,000 through the implementation of a strategic discount structure for non-standard products instead of paying the list price.
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Working for Illumis for 21 years, Brush has been instrumental in the growth of the company. Brush served as Vice President at Illumis before stepping into the role of President / CEO and has been involved in all aspects of the company’s business throughout his career.
Brush’s approach to his role centers on the motto of Illumis, Bright Ideas for Better Profits. Known for his loyalty, team building, and tough but fair expectations, he empowers employees to deliver, therefore fostering a company culture that ensures customers can count on people.