F500 Construction Supplier Transforms Audit Process and Improves Compliance

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"With Oversight, we have a tool to transform our audit process, so our team can redirect their time on value-added tasks to run the business."

Brian Freedman, Director, Asset Protection and Chief Security Officer, HD Supply

 

VIDEO

HD Supply Achieves 100% ROI in less than 6 Months

HD Supply is one of the largest construction suppliers and industrial distributors in North America. The company stopped or recovered $170,000 in duplicate payments within six months of implementing Oversight. Watch their journey.

Overview

Oversight Insights On Demand® enables HD Supply to enforce inventory purchasing protocols and travel & expense policy to match its business profile.

Business Challenge

The Fortune 500 company relied on a manual audit process to monitor compliance and uncover theft, fraud, and profit leakage across the company. Their manual process took a great deal of effort and risk was going undetected.

Solution

HD Supply transformed its audit and risk mitigation process by implementing Oversight Insights On Demand, eliminating the need for the team to spend hours searching for issues. Powerful reporting, dashboard, and integrated case management capabilities enable the team to detect and resolve high-risk cases much more effectively.

Results

Immediately identified potential duplicate procure-to-pay transactions totaling more than $3 million dollars

Stopped or recovered more than $170,000 in duplicate payments within six months of implementing Oversight

Eliminated manual sample audits of invoices and expenses, freeing up staff to focus on more value-added tasks

Provided reporting and dashboard to measure the effectiveness of their auditing efforts

Enabled the company to monitor T&E spending and identify employees who need coaching to stop wasteful or questionable spending

CASE STUDY

Fortune 500 Construction Supplier Transforms Audit Process and Improves Compliance with Oversight Systems.

Read the full story on how HD Supplyy leveraged Oversight Systems to replace manual audits and improve policy compliance in T&E and accounts payables.