WHAT WE DO
We produce results where others don't.
We strive to ensure that our services are based on a full understanding of our clients' needs.
Accounts Payable Audits
The key benefits of accounts payable audits include the money that will likely be “found” as well as operational improvements. It is estimated that for every billion dollars of payables there can be a million dollars in over-payments! Whether the money we “find” is significant or relatively small, the non-financial benefits are just as critical to the success of your business.
Operational deficiencies develop over time. It is common for accounts payable departments to experience departmental movement, processes often break down as technology changes, the department grows, or new branches get tied into the system. Sometimes it takes a “fresh set of eyes", or a third party to evaluate how the procure-to-pay function is executed and offer solutions.
SKW provides Accounts Payable recovery audits better than other recovery audit services, ensuring client satisfaction. We are a specialty boutique with a refined process that ensures recoveries where others would find none.
Contract Compliance/Vendor Audits
At SKW & Associates, we are focused on assisting our clients answer the hard questions regarding assumed risk within business relationships presented by key business partners, all the while recovering and saving them money.
We provide a turnkey solution for mitigating risk while maximizing recoveries and future savings. Of course we can customize our deliverable to our clients needs, providing reports and business intelligence on request. Our services include:
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Audit Defense - We manage and resolve contract compliance/vendor audits of our Clients, saving them time and money
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Contract Compliance Audit Portfolio - Partnering with our client, we assist in identifying what vendors should be audited as well as those that should not. This allows for an efficient and productive audit program.
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Audits we perform:
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Internal Vendor Audit - The vendor and often times the internal business unit is not involved; focused on internal data and controls. No contractual audit clause is required.
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Desktop Audit - These audits do not require a site visit to the vendor’s offices. Internal or external data may be utilized.
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Full Vendor Audit - Full review of contracts, site visit with vendor and thorough transactional audit identifying compliance and risks as well as out of compliance spend.
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We take great pride in over delivering through the merging of sophisticated data analysis and our old school practices. We uncover every rock to ensure nothing is left at the audit table.
Expense Management or Real Time Audits
Major Capital projects require significant commitment. Complex agreements with numerous vendors requiring multiple payments can put internal controls in jeopardy and expose your Capital Project to unintended financial risk. Your accounts payable department process thousands of invoices weekly, most without error. Unfortunately, multiple suppliers and various contract terms can lead to suppliers making numerous billing errors that may go undetected.
Invoices audited and reviewed in ‘real time’ can prevent the billing errors from occurring in the first place avoiding having to review several years’ worth of billing errors.
SKW & Associates have developed teams with Contract Compliance and AP recovery experience designed specifically to provide the assurance you need to keep your Capital Projects free of vendor non-compliance risk. We mobilize our team to compliment yours, ensuring all contractual obligations are administered as well as all commercial terms are realized. Based on our team’s vast knowledge and skills, we have developed the most comprehensive, efficient, and minimally disruptive recovery system available.
What to Expect - Financial Impact
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Hard-dollar savings are typically recognized within the first 30 days
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Significant savings in time for clients staff
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Low-risk engagement with minimal budget and resource requirements
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Reduced risk and containment of future costs
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Improved supplier relationships and performance for ongoing and future work
Partnering with SKW & Associates Expense Management team will mitigate the risk of paying vendor's erroneous invoices.