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Sourcing Auditors is a leading auditing advisory company for the IT and BPO Sourcing and Procurement companies. Our services help organizations maximize their contract governance and contract value using uniquely-developed, world-class and a comprehensive Audit Framework™ that focuses on Contract Compliance, Contract Optimization and Contract Continuous Improvement.
Contract Life-cycle comprises three stages – Contract Strategy, Contract Structuring & Negotiation and Contract Governance. Audit Framework™ focuses on the third stage of the contract when the Contract transition period gets over and SLAs set in.
Audit Framework™ comprises three dimensions of Contract Compliance, Contract Optimization and Contract Continuous Improvement are then divided into 18 Audit Areas which further have 192 Audit Segments which in turn comprises 1200+ Audit Parameters the audit exercise will go through in its Reporting and Execution.
Audit Reporting is a systematic and independent examination of contract, data, statements, records, operations, contractual propositions and performances related to particular Contract. At the end of the exercise, our CSAs will present a report with gaps, evaluation and recommendation. The purpose here is not to challenge decision taken earlier but is to give a fair opinion on the adequacy of various sourcing parameters within a contract, to evaluate and improve the effectiveness of risk management, control, and governance processes.
Client companies have an additional option of engaging us in Audit Execution where our CSAs work in partnership with sourcing and procurement team to implement the receommendation proposed by them in Audit Reporting stage to increase contract compliance, optimize value and improve overall sourcing efficiency of the contract.
Ongoing Audit is a subscription based real-time guidance and advice on Contract compliance, Contract optimization and Contract improvement throughout the length of the Contract. This pro-active contract audit service engages in continuous risk detection, identifies contractual non-compliance, prevents value leakage and suggests continuous improvement. Under this arrangement, Single-point of Contact (SPC) at client company keep us informed on all the aspects associated with the Contract under subscription including changes in the Contract. Our CSAs will continue to monitor your Contract on an onging basis for compliance, optimization and continuous improvement providing your SPC with periodic dashboards and will be quick to draw your attention towards any yellow / orange bands to prevent any risks or any potential loss or leakage of contract value. To register our skin in the game, we will insure companies against their full annual subscription value if Sourcing Auditor team ends up not identifying any risks in time or if there is any other leakage occurence.