Global Mobility programmes are extremely complex in nature, comprising a number of interlinked services, many of which are commonly outsourced to external service providers. Larger programmes may have multiple providers – for instance for destination services, household goods shipping, temporary accommodation, immigration, tax and travel – each of whom will be issuing regular invoices for approval and settlement.
Keeping track of each category of provider spend and ensuring invoices – often in multiple formats, currencies and with a variety of narratives – can be a full-time job in itself, and is rarely a priority given all the other responsibilities global mobility teams hold today.
Interestingly, while many client contracts with service providers include the right of the client to appoint an independent auditor to review all invoices in detail at regular intervals, in practice the right of audit is rarely enforced. This is where Bloom can assist.
The current economic environment which pairs ongoing pressure on the cost effectiveness of mobility programme spend, with a continuing focus on compliance, mean that the undertaking of external independent audits are an opportunity to ensure vendor payments are fully aligned with contractual terms.
Our Programme Audits are designed to review all category spend for a given period to verify that all invoices have been raised in accordance with agreed service or fee scales, and to raise any discrepancies for further investigation.
In our experience, in most mobility programmes where dozens – and sometimes hundreds – of invoices are received on a monthly basis, the external audit can produce financial savings far in excess of the cost of the audit process.