Insights unlocking value, in every part of your business
In an industry as complex and interconnected as today’s retail environment, there’s really no such thing as a single source of value when it comes to your quest for performance improvement. It’s true that audit and recovery applied to a siloed information set – supplier transactions, for example – can yield significant results. However, if you don’t take a more expansive view of where value might hide, you could be leaving money on the table.
Connolly sees audit and recovery as a strategic necessity that encompasses your whole business, requiring specialized skills to meet varying requirements and a tailored approach that aligns with your specific needs. That’s why we’ve developed collaborative expertise and best practices across a broad range of areas.
In all we do, accuracy and openness are prime objectives. Each opportunity found is carefully and thoroughly documented, and we pursue recovery with our signature transparency, diligence and professionalism that produces the best results for our clients.
Connolly is renowned for our thoughtful approach to payment recovery. We treat your suppliers and vendors with respect, protecting your sensitive business relationships.
Merchandise and Expense Accounts Payable – Myriad interrelated interactions form the core of your business – supplier agreements, purchase orders, manufacturer givebacks, advertising support, merchandise returns and promotion timing. Connolly carefully scrutinizes every aspect of these complex data streams, employing innovative best practices developed over decades of experience with the retail industry. We examine every bit of data to uncover patterns and incongruities – the subtle links of cause and effect that ripple throughout your operations.
Contract compliance – The logistics of running your business involve an array of relationships separate from your supply chain, yet equally complex. Everything from building maintenance to office supplies is governed by a contractual obligation with a service provider or vendor. Working closely with you to understand the specificity of your business, our dedicated team matches services rendered to agreements – whether the promised service was performed fully, on time and according to financial obligation – to find and pursue any discrepancies.
Activation – Sales of merchandise that depend on a third-party service component, such as cell phones, have a unique place in the retail environment. Connolly has deep expertise in this complex ecosystem of specialty suppliers and the particular nature of activation-based commissions. This experience enables us to recover lost profits and clarify potential contract ambiguities, resulting in reduced future errors.
Pharmacy – The management of pharmaceutical procurement and sales adds a layer of complexity and regulatory risk to your operations. You need to safeguard, properly track and document the movement of these products, carefully handling returns, recalls and, when necessary, destruction or disposal. Our retail specialists are intimately familiar with this part of the business and its susceptibility to price fluctuations linked to the government-regulated Rx market.
Freight – In the fast-paced retail industry, making sure merchandise moves efficiently, arrives on time and is undamaged is a critical business requirement. Connolly supply chain professionals use proven methods to audit the movement of goods throughout your supply chain, ensuring compliance with your published guidelines regarding use of approved carriers, charges and delivery schedules, building a defensible case for recovery in the case of deviations from the agreement.
Statements – Invoicing errors and duplicate payments are another source of lost profit. Connolly’s specialized team steps in to review and cross-check supplier and vendor statements, with the ability to reliably detect variances that can produce corrections in your favor.
The value of knowledge
Your ability to optimize your business – to increase efficiency, drive down costs and maximize profitability – pivots on knowledge. Insight into your performance, a view of trends and understanding of best practices all contribute to continuous improvement – driving toward flawless execution across the entire enterprise.
Connolly employs analytics to generate insight about your operations, sharing knowledge in a variety of ways designed to advance your business strategy. We benchmark your performance against industry peers and give you transparent, real-time insight into our audit findings. In the course of our work, we also gain an understanding of your operations and how they compare with best practices – findings that we pass along to give you the information you need to support business decisions and make lasting improvements.
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