Engaging with PCR on an audit is very easy and straightforward. With limited engagement from your staff (typically an upfront interview with your team and then the designation of a point person for help with vendor contacts), we can be up and running the entire claims process. PCR works on a contingency basis and invoices based on a percentage of funds we find for you. From historical purchases to current contracts, payables and returns we’ll audit not only the transactions within your supply chain but also craft recommendations on how to improve your processes going forward. When you partner with PCR you get not only financial gain, but also procedural improvements… and you get all with no risk.
Evaluate contractual payments towards purchase agreements and assess and payment inconsistencies
Verify that vendors have not been paid more than once for a product or service, or that multiple vendors have not invoiced you for the same thing
Review your payment terms to determine if all unique vendor terms have been properly entered and honored
Research product returns to ensure that you have received proper credit on all unused and returned items per the purchase terms
Review vendor contracts and manufacturer agreements to ensure all rebates and allowances have been honored
Evaluate both accruals and sales tax payments to determine their validity and accuracy
Prepare a work flow analysis of your current procurement process to identify any additional areas where funds could be missed, adding them to the overall audit plan
Provide a detailed list of predetermined file layouts, assisting in extracting data for auditing purposes
Identify and implement efficiencies in your procurement and payment processes that increase profits (without external assistance) ongoing
Pursue claims against current and non-current vendors until payment is received
Create a document that combines best practices and a detailed review of the major audit areas promoting internal processes improvement. Training for the staff involved in implementing our recommendations is also included