Posted: Mar 10, 2020
Challenge:
A complex pricing structure stipulated in the contract between client and its key vendor. Pricing calculations and invoicing are manual processes that result in a high risk of error or fraud when compounded with high turnover in the period.
Strategy:
Utilized data analytics to reperform the pricing calculation and identifying any errors in the manual process, with the goal of detecting potential over or under billing errors in a 2-year period.
Results:
Our work showed the client that they have been over billed by approximately $150,000 in the 2-year period and ultimately allowed them to recover the amount from their key vendor. Process improvement and contract revision recommendations were implemented to minimize these errors in the future.
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