Price Analysis Review
Our Price Analysis Review is a thorough examination of contracted prices with vendors versus actual prices paid by your Accounts Payable Department. This type of review has the potential to identify large errors because purchasing volume drives it. A difference in pennies can accumulate quickly when purchasing volume of a specific item is high. Utilizing our proprietary software (AUDEX), data is accumulated, processed and analyzed to highlight potential opportunities for recovery and/or future saving opportunities. Data is accumulated via a combination of manual (data entry) and electronic (download) protocols.
Key Analysis
- Detailed purchase history
- Deviations to standard pricing
- Industry pricing information
Capabilities
Our Price Analysis Review entails accumulating, processing and analyzing your procurement/contract and payment data with special interest in adding detailed line item credit memo information to the database of purchases. By tracking purchase information for multiple fiscal periods, variations in pricing levels are flagged for further research. If pricing overpayments are discovered, we then present our findings to your vendor with supportive documentation and recover lost profits for you.
Pricing Trends Within a Vendor
We will accumulate contract and disbursement data for selected vendors, to determine and report to our clients on any unusual pricing variations. Deviations in a trend may be indicative of dropped contract price and/or higher than anticipated market pricing.
Pricing Trends Multiple Vendors
Often times the same item/product is purchased from more than one resource. By virtue of cross-referencing vendor purchases by item, regardless of the vendor, pricing variances are frequently uncovered which may provide our clients the opportunity to challenge their vendor’s pricing policies.
Future Savings Opportunities
The simple fact is… better information yields better decisions. As a result of our price analysis, The Trio Company can provide clients with information that may lead to better buying decisions in the future. We will (upon request) provide clients with our “Futures” program and fee structure.
We Recover What is Rightfully Yours™