Indirect Procurement Audits for Financial Gains

We are currently having some success finding financial opportunities through Indirect category audits (post-invoice, billing, contract, etc.) utilizing 3rd-party audit companies. An example would be a 3rd party audit firm analyzing all Ocean Freight spend for the past 3 years, reviewing billing, fuel charges per the contract, etc. and determining if money is owed to us though identified discrepancies.

We are interested in learning more on:

  • What Indirect Sub-Categories would be eligible for these types of audits? (Ex: Ocean Freight, Office Supplies, etc.)
  • If you have performed these types of audits, what are the typical returns for each sub-category? (Ex: Media Buying: 1-3%, Ocean Freight: 2-4%)
  • What external firms did you use to perform these audits?
  • Do you do these audits internally or through external auditors? What internal programs do you use to support them if you go that route?

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