Most public and private sector organizations depend on third-party relationships to meet their goals. These multifaceted relationships are governed by contracts, which can be extremely complex and often times poorly designed and managed.

A lack of third-party vendor contract management processes and controls can lead to organizational risks resulting in brand or reputational damage and the loss of revenue.

We understand the complexities of vendor relationships, including: complex contractual agreements that may not be compliant with regulatory obligations, limited ability to assess large data sets to analyze, test and identify exceptions or management and oversight controls to adequately monitor adherence to contractual obligations.

Other common challenges surrounding third-party contractual relationships include:

Material and equipment vendors
Contract manufacturers
Third-party logistics providers
Business process outsource providers
Application service providers
Lease hold management
Major construction projects (especially with large labour components)

Find out how KPMG's expertise can help you and your company

Submit RFP

How we can help

KPMG’s contract compliance services enables organizations across a wide range of industries the ability to analyze their contractual obligations with third parties, drawing on our multidisciplinary strengths from diverse disciplines – auditing, accounting, information risk management, among others. Our teams help to identify potential financial misreporting to ensure compliance in contractual relationships with business partners, resulting in potential collections or savings with significant return on investment.

Equipped with advanced data and analytics capabilities, our solutions involve tested technologies and machine learning that efficiently navigate the complexities of contract terms and conditions in today’s digital environment.

Vendor and supplier reviews

Manage your vendor relationships by assessing compliance with various provisions of purchase agreements across the supply chain.

Long-term service reviews

Conduct Long-term Service Agreements (LTSA) reviews for various sectors including for renewables and transportation and identify key risk areas.

Accounts payable overpayment analysis and recovery

Improve your accounts-payable analysis and analyze transactions and identify potential overpayments, duplicate payments, and opportunities for risk mitigation.

Regulatory reporting and compliance of licensees

Ensure that third parties (including licensees and contractors) are in compliance with their obligations (e.g. reporting and regulatory requirements).

Project management clauses review

Assess whether your project management team and contractor are complying with key clauses related to project management.

Explore more

handshake

The journey to proactive risk management and sustainable business growth.

Learn more

account_balance

Providing strategic sourcing of internal audit, continuous auditing/monitoring, ERM, governance, and regulatory compliance.

Learn more

biotech

KPMG in Canada's forensic services team can help you monitor, detect, assess and respond to risks accordingly to protect your company’s reputation.

Learn more

Key benefits

Organizations that perform contract compliance can optimize relationships with other entities to improve business processes, maximize revenue, manage costs, address risks, strengthen relationships, and boost performance.