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Why Private Equity Firms Love Procurement Audits

White Paper Published By: Auditrax
Published:  Jun 28, 2011
Type:  White Paper
Length:  6 pages

Private equity firms are constantly looking for ways to increase the profitability of portfolio firms to eventually lead to a higher sales price when the time is right. Their portfolio companies look to them as a resource for valuable revenue increasing and cost savings measures. Unbeknownst to many firms, there are actually lost profits locked up in the procurement process as a result of vendor errors, process breakdowns, ERP system migrations, and complex procurement environments. Auditrax provides a unique, risk-free solution that audits the procurement process of clients over a historical period to identify lost profits by exposing the process breakdown, recovering the capital from vendors, and preventing future errors through actionable recommendations. A procurement audit can quickly increase the value of portfolio companies, making them more attractive to potential buyers, and more profitable for their equity group.

Tags : 
accounts payable audit, cash flow, recovery audit, procurement audit, financial audit, audit, accounts payable, business solutions