Retail
Retail
Learn how Cotiviti worked with a major national retailer that was experiencing significant real-time margin loss to deploy intercept alerts that generated $23 million in average annual value.
Zero Hour Alerts™ is Cotiviti’s answer to the most difficult challenge in retail payment accuracy: preventing margin loss prior to a transaction or event. Our web-based Zero Hour Alerts software platform gives retailers the advance warning needed to monitor, prioritize, and proactively resolve payment accuracy issues.
Cotiviti Retail’s original industry research report examines how retail leaders continue to adapt by rolling out new technologies to meet the rapidly shifting preferences and needs of consumers and communities. Read about the recent trends expected to leave a lasting impact on retail, and how 2020 reshaped ideas of future success.
Retailers and commercial enterprises routinely execute thousands of expense contracts for goods and services, but many do not have systematic audit programs in place to realize negotiated value and hold vendors accountable to contract terms. Watch on-demand as Walmart and Cotiviti leaders discuss how a strong contract compliance audit program can drive improved vendor performance through increased accountability.
Cotiviti can apply a combination of proprietary technology, processes, and experienced auditors to your organization’s non-medical spending. Download our checklist and learn several reasons why health plans should implement a contract compliance program for indirect spending on goods and services provided by third parties.
High-performing contract compliance audits can be difficult to execute, but getting them right is vital in an industry with thousands of touchpoints, millions of transactions, and razor-thin margins. Watch this on-demand webinar in which vice president of sales Kevin McSweeney and senior auditor Ryan Barker highlight customer success stories in contract compliance and outline the steps to building an effective program.
A comprehensive recovery audit digs deep into transactional data to unlock hidden value and find financial leakage across a retailer’s vast supplier network. Cotiviti relies on a combination of technology, experienced auditors, and deep domain expertise to deliver a high level of accuracy (low payback rate) and performance (high catch rate) for the largest retailers in North America.
A comprehensive recovery audit digs deep into transactional data to unlock hidden value and find financial leakage across a retailer’s vast supplier network. Cotiviti relies on a combination of technology, experienced auditors, and deep domain expertise to deliver a high level of accuracy (low payback rate) and performance (high catch rate) for the largest retailers in North America.
A large US retailer suspected billing issues for its information technology (IT) staffing agreements. The retailer was utilizing both domestic and offshore resources contracted at different rates. Data access and integrity were chief among the concerns as Cotivit’s auditors worked with the supplier to review compliance. During our investigation, we obtained facility access records to dispute the hours reported by the supplier. We also conducted an offshore site visit to interview management and observe processes tied to the number of hours being billed.
Financial leakage stems from a myriad of gaps in how money is paid to or collected from suppliers across a broad continuum. This paper underlines some of the complexities inherent to this costly reality. We will demonstrate how pacesetters in the retail industry are successfully transforming the auditing process into a strategic business initiative to identify root causes of issues and prevent reoccurrence.
