Retailers are seeking proactive solutions to eliminate revenue leakage. Preventing losses before they occur is the most cost-effective way to operate in a procure-to-pay environment. If prevention fails, retailers need nimble solutions to identify and act upon high-risk transactions in the near term rather than 12, 18, or even 24 months after payment. Intervening to prevent overpayments and accelerate recoveries upstream, closer to the transaction date, reduces friction with suppliers, creates positive cash flow, and allows for more accurate financial forecasting.
Cotiviti Retail’s service and delivery model operates in lockstep with clients as their needs change. We approach every audit keenly aware of where our clients are in the process of evolving from a traditional, post-audit world to a more proactive approach that includes prevention and interception closer to the transaction date.
Our Zero Hour Alerts allow clients to intervene with urgency to prevent overpayments and accelerate recovery actions on high-risk transactions in near real time by leveraging Cotiviti’s power and proprietary audit platform. Zero Hour Alerts, in combination with our Alerts Dashboard, provide advance warning of a number of error types including pricing, vendor funds, and duplicate payments.Learn More
Our 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 accelerate error resolution and increase the value of recoveries for our clients by shifting them closer to the transaction. Our experienced auditors deliver a high level of accuracy (low payback rate) and performance (high catch rate) for the largest retailers in North America. We offer conventional recovery auditing as primary or secondary pass, a Cotiviti-hosted audit platform to support internal teams, and outsourcing support. Finally, we are breaking new ground with an Integrated Audit that brings internal and primary teams together to eliminate artificial barriers to acceleration.Learn More
Our contract compliance audit services focus on areas of indirect spend for goods and services such as information technology (IT), business process outsourcing, facilities maintenance, and waste management. A diverse array of industries from manufacturing to energy to hospitality and entertainment relies on our experienced contract compliance audit team to recover lost margin due to non-compliance and strengthen supplier agreements to guard against future losses.Learn More