Procurement Audits

Once a contract has been signed, they often go relatively unmonitored until it’s time to renew. How can you be assured that every single transaction was invoiced properly per the terms and conditions of the contract? Organizations are often at the mercy of the supplier in this regard, and must trust that the supplier both adheres to the contract and does not make any billing mistakes.
We can perform an arrears audit and analysis of your contracts to ensure that your suppliers have adhered to the terms and conditions of your agreements. Occasionally, we will complete an audit and find that the supplier has stayed true to the agreement, and did not commit any mistakes. In that case, it is assuring to know that your supplier has maintained contract compliance. However, more often than not, our audits reveal findings. Whether they did not charge fixed pricing correctly, incorrectly applied discounts, or did not adhere to shipping terms, we’ll uncover these discrepancies and work to reconcile the differences on your behalf.
At Dryden Group
we provide indirect spend auditing services that help you and your company ensure contract compliance and supplier integrity

The Audit Process

  • Supplier Selection: We work with you to determine which suppliers to audit. We can audit suppliers of any size, in any region, and in any category.
  • Data Gathering: We gather all of the necessary information to begin the audits. This starts by reaching out to your procurement team / category managers to acquire the agreements and legal documents. We then reach out directly to the suppliers on your behalf to gather the historical transactional data, pricing details, legal documents, and anything else deemed necessary to complete the audit.
  • Audit Analysis: Our consultants complete a comprehensive audit and analysis. We verify that the prices you paid are consistent with your contract.
  • Presentation of Results: After we complete the audit, we meet with your organization to discuss the results, recovery, and next steps.
  • Reconciliation: We work directly with the supplier to return any overcharges uncovered during the audit.
  • On-going Optimization and Monitoring: After the historical audit has been completed, clients often opt to continue to work with us on an ongoing basis.
Working with us on an ongoing basis will allow you to maximize your contract's value and continuously maintain contract compliance
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