Mistakes happen in businesses of all sizes for a multitude of reasons ranging from human error, large transaction volumes, insufficient staff training/staff levels, complex pricing, systems not fully integrated, exception transactions and contract misinterpretation to name a few. In today's fast paced environment, it is imperative that you know that your vendors and End user firms are in compliance with your negotiated contract and that you are receiving your revenue in full.
In the Market Data Industry, vendors redistribute data from a significant number of data providers, each with different contracts, policies and pricing schedules. As a result, mistakes can happen and contracts can be misinterpreted. This can result in your business losing profits and your future revenue being at risk.
The solution is a fully customized, all-encompassing audit conducted by Precision Audit Consulting LLC. The entire process is managed by Precision, giving you time to concentrate on other areas of your business. Our comprehensive audit report will include details of vendor products, processes, systems, discrepancies, areas for concern, recommendations and audit findings.
For more details on the audit methodology used, including tests performed, please contact us.