Client
Integrated energy company engaged primarily in electric power production and retail distribution operations
Industry
Utilities
Project Timeframe
Over a three-month span
Revenew Services
Performance Improvement, Real-Time Reviews
Project Scope
State utility required third-party review of invoices during and after a major storm event.
Revenew’s Approach
The audits included reviews of the Purchase Orders (POs) and Change Orders (COs) encompassing the audit period of January 2016 through June 2017 as well as invoices submitted against POs and COs along with any other supporting documents.
- Real-time analysis of storm invoices totaling $15.6M
- Reconciliation of errors with contractor to correct invoices
- Daily status reporting of analysis and reconciliations
- Approval of invoices for payment after corrections
Outcomes
- Timely processing of heavy invoice volume
- Regulatory audit showed accuracy rate of invoices at 99.27%
- Delighted customer and appreciative contractors