Cost Recovery & Invoice Audits

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Whether it be invoicing your customers or paying vendors and suppliers, it is important to make sure that invoices are accurate and comply with the terms of the contracts you have in place.  We often see companies overpaying or being underpaid because they don't have the time necessary to scrutinize every invoice by comparing it to source detail and contract terms.  That is where DBS comes in.  We can analyze your data and perform an audit in a matter of days to determine whether you are owed money from customers or due a refund from vendors.  These discrepancies can add up quickly and could be in the millions. 

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At DBS, we use advanced data analytic software to data mine and identify anomalies (i.e., potential cost recoveries) quickly.  Some of the most common causes we see for overpayments or underbillings are:

• Duplicate invoices or duplicate line-items on an invoice.  

• Billing at rates that are higher than the contracted rates.

• Charging a markup above what is allowable by contract.  

• Charging overtime labor rates for standard-time hours. 

• Unapplied discounts.

• Suppliers charging sales tax on tax exempt items.

• Overbilling labor hours.

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DBS has recovered millions of dollars for our clients.  In a recent audit of a cloud system implementer, we recovered over $120,000 for a client by identifying duplicate and excessive consultant fees and failure by the implementer to apply an agreed upon discount that was triggered by exceeding a specified level of consultant fees.  The recovery amount represented over 3% of the providers total contract value.    

 

We understand that audit activities are not the core strategic objective of companies, but that's where we can help.  The services we provide allow companies to co-source or outsource these activities to enable them to focus on their core business.