Turnaround/Outage/Infield Construction Audits

Our Turnaround/Outage/Infield Construction Audits deliver assurance of contract compliance with hard-dollar cost recovery.

 

Revenew’s in-depth Turnaround / Outage / Infield Construction Audits deliver contract compliance, cost validation, reporting, cost avoidance and recovery for our clients. We ensure that costs are properly incurred, identified and allocated. We provide greater transparency into reporting and cost control. Prime contractor and sub- contractor contracts and billing practices are tested and evaluated to industry best practices. Field testing and observations occur in a real-time environment. High-risk and high-dollar activities are subject to stop-and-go or intermittent audit and review throughout the construction period.

• Improved transparency into cost and budget calculations and assessments

• Hard-dollar recovery of prime and sub-contractor overcharges

• Real-time audits reveal detrimental practices and replace with best practices

OUR AUDIT PROCESS

We conduct a thorough review of all expenditures with an individual review of contract terms and conditions on selected agreements with key suppliers and contractors. This includes line-item analysis and review of invoices, monetary transactions, purchase orders and related documents, validation of price/volume and confirmation that contract provisions have been accurately translated. Thereafter, cost reduction and contract improvement opportunities are identified and presented, along with identification and recovery of over-payments and business concessions that translate to prospective savings.


Revenew’s audit programs ensure that our clients are accurately charged and receive their full entitlements under established supplier agreements.

“The success has been enormous. In less than three years, Revenew helped us to recover $17 million gross!”

 

Audited Activities

  • Fit Tests
  • Drug Tests
  • DOT Certification
  • Testing to determine I-9 Status
  • Per Diem
  • Lay Down Sites
  • Storage Yards
  • Moving Equipment on/off Site
  • Hourly Rates
  • Hours Invoiced
  • Job Reclassification Frequency
  • Shift Differential
  • ST/OT/DT Calculations
  • Holiday Pay
  • Administrative/Overhead Resources
  • Home Office Support
  • Small Tools & Equipment Reimbursement Consumables
  • Weights & Measures
  • Fuel Escalation & Delivery
  • Taxes
  • Hours Authorized/Timesheet
  • Materials Billed
  • Rates & Markups
  • On Site High Rescue
  • Inspection Services
  • Scaffolding Services
  • Pile/Foundation Services
  • Rigging

 

Our Supplier Payment Reviews reveal more, to recover more

Our Supplier Payment Reviews reveal more, to recover more...

Accounts payable departments process hundreds of thousands of invoices annually, most without error. Unfortunately, supplier billing practices, incomplete or inaccurate invoices and challenges with ERP controls contribute to duplicate payments, overpayments and other errors. While the number of occurrences is small on a percentage basis, the aggregate loss can be significant. Revenew’s unique methodology enables us to explore and recover transaction and contract losses – consistently delivering greater detection and recovery than can be achieved in-house or by other firms.

Revenew specializes in companies with complex A/P systems. Our founders have considerable experience working as accounts payable managers for large Fortune 100 companies. Based on their “insider” knowledge of a corporation’s structure, we developed the most comprehensive, efficient and minimally-intrusive recovery system available.

Our proprietary software and methodology contribute to the unparalleled results that we’re able to achieve. We developed our VERIPRO software and continually customize it to address client transaction types and vendor bases. While most firms run 10 to 15 reports on your data, our programs perform over 40 tests, with 70 root cause analyses.

We reviewed over 2,395,000 invoices and contacted 25,376 vendors – for just one client.

 

Our Supplier Payment Reviews Methodology

Collect invoices and vendor statements.

  • Analyze the materials for errors and missing items.
  • Recover funds from duplicate or erroneous payments, overcharges/overpayments, returned items, unclaimed credits and rebates.
  • Reduce duplicate payments, lost checks and fraud potential.
  • Assess vendor master practices – objectively and non-intrusively.
  • Validate with 100% claim validation and benchmarking.
  • Improve and recommend process solutions to prevent future losses and preserve revenue.

Master Limited Partnership (MLP) Pipeline Audits

Our MLP Pipeline Audits deliver assurance of contract compliance with hard-dollar cost recovery.

 

Revenew’s in-depth Master Limited Partnership (MLP) Pipeline CAPEX and Operating Audits deliver contract compliance, cost validation, reporting, cost avoidance and recovery for our clients. We ensure that costs are properly incurred, identified and allocated to the owners by the MLP operators as we provide greater transparency into operator reporting and cost control. Prime contractor and subcontractor contracts and billing practices are tested and evaluated to industry best practices. Field testing and observations occur in a real-time environment. High-risk and high-dollar activities are subject to stop-and-go or intermittent audit and review throughout the construction period.


• Improved transparency into MLP cost and budget calculations and assessments

• Hard-dollar recovery of prime and sub-contractor overcharges

• Real-time audits reveal detrimental practices and replace with best practices

OUR AUDIT PROCESS

We conduct a thorough review of all expenditures with an individual review of contract terms and conditions on selected agreements with key suppliers and contractors. This includes line-item analysis and review of invoices, monetary transactions, purchase orders and related documents, validation of price/volume and confirmation that contract provisions have been accurately translated. Thereafter, cost reduction and contract improvement opportunities are identified and presented, along with identification and recovery of over-payments and business concessions that translate to prospective savings.

Revenew’s audit programs ensure that our clients are accurately charged and receive their full entitlements under established supplier agreements.

“The success has been enormous. In less than three years, Revenew helped us to recover $17 million gross!”

 

Audited Activities

  • Siting and route plan
  • ROW acquisitions
  • Pipe acquisition and delivery
  • Mobilization
  • Contractor equipment
  • Third party equipment
  • Small tools and consumables
  • Mats
  • Fuel practices
  • Change order management
  • Security and fire watch
  • Daily analysis
  • Safety inspection
  • QA/QC
  • Welding certifications
  • Administration
  • Inspectors
  • Crew engineers
  • Pipe yard
  • Clearing crew
  • Ditching and blasting
  • Land agents
  • Archeologists
  • Animal wranglers
  • Placement crews
  • HDD contractors
  • Grading crews
  • Reclamation crews
  • Scrap
  • Demobilization
  • Final reclamation
  • Pumping stations

Revenew’s Cost Recovery and Cost Containment services produce hard-dollar results for our clients – specific, tangible and often quite substantial. Please contact us today at 281-276-4500 or info@revenew.net to learn more. You have everything to gain.

Contract Compliance Audit Service

Our Contract Compliance Audit programs deliver much more than significant financial gains.

Revenew’s Contract Compliance Audit programs ensure that contracts are adhered to – with improved results. This allows our clients to dedicate additional time and resources to negotiate and implement their contracts. Following execution, limited time, resources and information are available to confirm that an agreement’s commercial terms are accurately translated into billing and payment transactions. Errors are difficult to identify unless a detailed line-item analysis of contracts, invoices, payment transactions and purchase orders is conducted.

An audit can encompass a number of leading expense categories such as outsourced services, staff augmentation, contractors/construction, engineering, third-party labor, technology, equipment, software, raw materials, environmental services, maintenance, auto/truck fleet, security services, and much more.

OUR AUDIT PROCESS

We conduct a thorough review of all expenditures with an individual review of contract terms and conditions on selected agreements with key suppliers and contractors. This includes line-item analysis and review of invoices, monetary transactions, purchase orders and related documents, validation of price/volume and confirmation that contract provisions have been accurately translated. Thereafter, cost reduction and contract improvement opportunities are identified and presented, along with identification and recovery of over-payments and business concessions that translate to prospective savings.

Revenew’s Contract Compliance Audits ensure that our clients are accurately charged and receive their full entitlements under established supplier agreements.

Revenew’s Cost Recovery and Cost Containment services produce hard-dollar results for our clients – specific, tangible and often quite substantial. Please contact us today at 281-276-4500 or info@revenew.net to learn more. You have everything to gain.

 

Disaster Response Team from Revenew

It’s difficult to predict when disasters such as floods, hurricanes, industrial spills and  will occur. And no matter how well your company has planned its crisis response protocol, the work environment is often chaotic once disaster strikes – and a coordinated, timely response is critical to ensuring your costs are controlled.

Revenew’s Disaster Response team can mobilize to arrive at your site within 48 hours of an event’s conclusion with a team of highly-experienced review resources. We help to mitigate damage, restore order and ultimately reduce negative impact – to your customers, your suppliers and to your bottom line.

In many cases, state regulatory agencies will require that you provide an audit of storm service invoices when certain spend thresholds are reached, to ensure ratepayers are charged properly. We interact with all of the national storm service providers on a regular basis and will be productive in review and dispute resolution from day one.

OUR DISASTER RESPONSE TEAM

Our team members have been trained to work in a wide range of IT and data platforms and are very familiar with contract design and industry norms. They are also highly-motivated and self-sufficient, which minimizes any training or monitoring needed from our clients.

A designated disaster administration and audit expert works on-site with your leadership to develop strategies and metrics which immediately maximize efficiencies and build a foundation for support during future events.

PROTECTING YOUR BOTTOM LINE

Your suppliers and contractors are also thrown into action and often work double shifts to bring in people, materials and equipment from multiple locations as they meet your immediate needs. The ability to monitor and pay their invoices becomes more difficult due to the increased volume and inability to follow protocol in extreme conditions. Revenew’s team will ensure that process controls and pricing agreements are strictly adhered to, with detailed real-time analysis of disbursements provided.

Many times your employees will have experienced their own losses and require time off. Revenew’s support will allow them to take time needed to manage personal loss and return even more quickly to their normal work activities.

Revenew’s Disaster Response services provide valuable invoice management, auditing and processing support during times of crisis. Please contact us today at 281-276-4530 or info@revenew.net to learn more. You have everything to gain.