An automated, customizable process for contract invoice data analysis
Deloitte’s CRC (Contract Risk & Compliance) services provide an approach to understanding and identifying potential solutions for the risks in extended business relationships.
CRC services can be leveraged by our clients as they undertake to structure, monitor, and strengthen contractual relationships with other businesses to maximize revenue, manage costs, address risks, and boost performance.
Companies pay out millions of dollars through various types of contractual arrangements. Yet the contracts underpinning these arrangements can be vague, misinterpreted, or inadequately monitored.
In addition, manual invoice analyses for contract compliance can be tedious, time-consuming, and performed on a sample basis only. With so much value at stake, companies need to consider potential risks, such as:
- Erroneous contractor charges not in compliance with the contract (e.g., labor charges, material charges, overhead allocations)
- Duplicate charges (e.g., material charges, labor charges, billing of both per diem/meal allowance)
- Excessive contractor time charges
- Inadequate monitoring of contractor charges