Cost Recovery Services
We analyze business’ using our three-audit system designed for success and savings.
The ideal scenario is we execute all three of the below core cost recovery services at one time. This will allow us to work with clients with "lower" revenues under one billion dollars in annual revenue.
The AP audit and the sales tax audits are kicked off at the same time (but are two separate projects). They are driven by the requested data-pull from the client's ERP/financial systems.
AP Audits
The AP audit should start identifying recoveries within 45 days, and will continue for up to 4 months. The client is only invoiced from revenue after they have received credits and/or refund checks.
That holds true for AP audits, Sales Tax audits, and supplier contract audits.
Sales Tax Audits
The sales tax audit kicks off at basically the same time as the AP audit, but as they have to file the claims with the state tax agencies, this is a longer process and can take up to 6 months. Both the AP audit and the sales tax audit take very little time and effort from the clients. As mentioned they are basically data driven and as hands off as possible.
After we have the spent data to support the AP audit, we build what we call a supplier rank. This has the list of the suppliers and service providers that are working with the client. We group these suppliers and service providers by category and rank by spend. We also highlight the transaction count. This spend needs to cover the last 2 to 3 years and is itemized by year.
Supplier Contract Audits
We start by reviewing the initial group of suppliers and taking them through our due diligence process. This includes (1) analyzing supplier contracts, (2) discussions with the contract owners and our clients either remotely or at your location, and (3) then we present our findings which may include another wave of recommended candidates. Our goal is to find the best suppliers to meet all of your requirements at an optimal price to help you achieve additional cost savings.
Please contact us if you have any questions.
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