Whether you’re performing vendor audits for cost recovery, billing corrections, risk management, cost containment, quality control, compliance assurance, or another reason, your goal remains the same: to identify opportunities to address leakages and improve your financial standing.
To help you in those efforts, we’ve examined the auditing outcomes for 10 companies in the energy industry. These audits included line-item analysis of invoices, contracts, commercial terms, payroll, payment transactions, and POs. You can check the numbers out for yourself. It paid off.
What the data in this report will do for you:
- Gain insights into the 4 common category spending areas so you can be more aware of what to look for and uncover costs in your own vendor relationships.
- Read 4 real-life examples of root-cause variance… where you can recover money!
- Learn the vendor categories that yield the greatest recoveries so you can prioritize your vendor audits. We have data on 22 of them!
- Use this trending data to evaluate and adjust your audit program you conduct based on the correlation between number of audits conducted, amount available to recover, and amount actually recovered.
- Learn about the relationship between company size and amount recovered. You’ll be surprised at what you discover.