Audit Services Identify and Resolve $100K in Pricing Discrepancies
Click Here to download a PDF on how Foodbuy’s Audit Services found $100K in incorrect pricing.
This Member engages with Foodbuy’s Audit Services team for ongoing review of their procurement portfolio. As part of this service, the team reviews every distributor invoice received by the Member and compares it to the Member’s contractual pricing with Foodbuy. A recent audit found issues with a chemical manufacturer’s broadline pricing. Ware-washing program pricing was communicated to the distributor through Electronic Data Interchange. The process was vague, causing discrepancies in invoices for each Member location.
The Foodbuy Audit Services team created a unique audit process that worked simultaneously with the vendor to identify pricing discrepancies. After finding all issues within the last quarter, Foodbuy then partnered with the manufacturer to correct pricing and gain credits on overpayments. The customized auditing process validated the performance of Foodbuy’s auditing tools and ultimately strengthened relationships between this Member and the manufacturer.
- The initial auditing process identified $85K in credits from overpayments due back to the client.
- Ongoing auditing has also found an additional $16K in overpayments.
- Relationships have grown stronger between this Member and the manufacturer.