In Their Own Words: SC&H Group
SC&H Group’s Contract Compliance Audit Services team partners with Fortune 1 to Fortune 500 companies across all industries to develop mature and sustainable contract compliance audit programs. As highly skilled, extensively experienced Certified Public Accountants, Certified Internal Auditors, and Certified Fraud Examiners, we perform thorough examinations of third-party contracts to identify opportunities to enhance transparency and accountability, capitalize on savings opportunities, recover lost profits, mitigate risks, and optimize ROI.
Complex contracts are difficult to manage with purchase orders. Organizations invest significant time and resources to find trusted partners to provide value-added services. Contract non-compliance that goes undetected, especially over longer periods of time, can drastically harm profit margins and lead to sub-optimal business outcomes. Even a fraction of a percent of profit lost to overspend, inefficient or manual processes, lack of value for money, or fraud can amount to millions of dollars. Leveraging experience and risk awareness, we can generate big refunds and elevate transparency, which enhances earnings and improves trust in third-party relationships.
• Supplier Contract Audits – Direct and Indirect Spend Categories
• Third-Party Risk Management
• Construction Audits
• Shutdown and Turnaround Audits
• Accounts Payable Recovery Audits
• Royalty and Licensing Audits
• Form I-9 Verification
• Forensic Data Analysis and Data Mining
• Contract Management
At SC&H, we utilize a proven, scalable approach that focuses on collaboration, developing a customized business case, and helping stakeholders socialize the program across the enterprise to obtain company-wide support for the initiative. We’re able to help prioritize high value opportunities and provide industry and indirect and direct spend-category specific recommendations to improve business processes, strengthen contract language, and produce additional ongoing benefits:
• Better measure contract effectiveness
• Improve profitability
• Verify supplier charge accuracy
• Promote stakeholder alignment
• Enhance governance through transparency
• Optimize business processes
Companies that partner with SC&H Group to implement an enterprise-wide contract compliance audit program will typically see a return on investment of more than 200 percent.
About SC&H Group
SC&H Group is a nationally recognized management consulting, audit, and tax firm serving clients across the globe. As a diversified consultancy and professional services firm with expertise in 11 practices, our offerings span enterprise technology, risk management, and cybersecurity to data analytics, wealth management, and accounting. With more than 340 employees, we help individuals and organizations prepare, innovate, and evolve their business and financial needs in this complex and highly competitive landscape.