Third party suppliers account for a large element of the expenditure of many businesses, and often they represent major risks as they support key parts of your business value chain. Obtaining direct assurance on your suppliers at the minimum will inform your management of what risks they should be concerned about. At best, this assurance can directly reduce your costs and improve the service you receive. Our services include:
- Control due diligence - Similar in concept to a SAS 70, we will review and test the major controls your supplier operates and report back on where they should improve to protect your interests.
- Contract compliance - Are you receiving the contracted supply and being charged the agreed price? Using forensic tools we can identify where you may have been overcharged. Our typical experience is that recoveries of between 2% and 8% of the contract value can be identified. We will also help you structure your contracts so in future these losses can be reduced.
- Construction audits - A specialist area of contract compliance, large construction projects with a web of suppliers are high risk environments for cost wastage and quality issues. Utilising industry specialists we can perform audits during the project lifecycle that identify issues and recoveries that you can action. If conducted at the close of a project our audits can be used to resolve potential disputes over final settlement.
