Cutting through volume and complexity.
With so much variability in vendor contracts that differ vastly from industry to industry, it can be difficult for companies to keep track of whether these vendors are in compliance with the contract terms. Organizations must also ensure that vendors are regularly meeting performance requirements, and not overcharging for their work.
BDO’s contract compliance services are equipped to serve virtually any company that engages vendors and suppliers through contractual agreements. Our contract compliance professionals are well versed in the interpretation and analysis of contract provisions, and our credentials are based on broad industry knowledge and experience. We speak the language unique to certain sectors, such as oil and gas, financial services, the motion picture industry, television, video, licensed merchandise, music, software, construction and franchising.
Our solutions are tailored to the specifics of each contract and the individual situation of each of the contracted parties. Focusing on the pertinent contractual provisions, understanding our clients’ concerns, and collaborating effectively and efficiently are the key elements that enable us to add value for our clients.
We comb through the details to identify instances when clients have overpaid – typically recovering funds that are at least 2-3% of the contract’s total value – and hold vendors accountable when they fail to meet performance requirements. In cases where contracts present enormous volume and complexity, our professionals leverage deep experience and broad resources in data analytics. In many cases, our teams are able to automate the process in order to find the required information quickly and efficiently.