Improving Your Bottom Line and Business Processes with Vendor Management
In today’s economy, companies are trying to do more with less. Finding time to manage your vendors is a difficult task as vendor payments can comprise a considerable amount of overall expenses for your organization. A vendor audit can increase the benefits of working with vendors while controlling your costs. A Stuart Maue vendor management program combines experienced auditors with the latest in technology. We provide you with the assurance that your suppliers are adhering to the terms of your contracts while allowing you to focus on your most important tasks.
What is a Vendor Audit?
A Stuart Maue vendor audit is a review of non-legal invoices and the associated contracts or underlying purchase orders. Each audit is performed by our experienced attorneys and accountant auditors. A vendor audit is designed to meet the specific needs of each client. Often, clients request a comprehensive independent review of contractual agreements and underlying invoices of their outside vendors. The Stuart Maue vendor audit process will identify billing errors and potential recoveries. We house this information in our database and use the data to provide advanced metrics and a series of standard and customized reports. With this information at your fingertips, you can gain a better understanding of your suppliers and select and manage partner relationships with confidence.
Why are Vendor Audits Important?
You work to negotiate the most favorable contract terms in your business, but if contract terms are not verified, you may not receive the benefit of your negotiations. With a Stuart Maue vendor audit, we can assist you with:
Reducing costs immediately by addressing recoveries quickly and accurately
Overpayments and missed deductions need to be addressed quickly as identifying, validating, and retrieving recoveries become increasingly difficult as time passes.
Identifying bottom-line savings
With a supplier audit, Stuart Maue reviews for any overpayments and missed deductions. These items, if not identified, can become significant and may impact a company’s bottom line by identifying recoveries and billing issues that may be problematic in the future.
Metrics and management information to measure vendor performance
With our analytics and reports you have instant insight into your vendor data with easy-to-read graphs, charts, and sortable reports.
Improving relationships with vendors
We understand that you value your relationship with your vendors. We strive to provide you with a clear, fair, and objective analysis of your vendor invoices and related contracts. Stuart Maue can provide you with the expertise necessary to ensure financial accuracy today and assist you in implementing best practices for the future.
For more information about how Stuart Maue’s Vendor Management Services can improve your bottom line, call us at: 1-800-291-9940 or e-mail us at: info@smmj.com
