Let’s talk about something that might not sound all that exciting initially but can make a massive difference to your business: audit recovery contractors. The term sounds like a corporate buzzword. But trust me, understanding what these auditors do could save your company thousands—or even millions—of dollars.
So, What's an Audit Recovery Contractor?
An audit recovery contractor is like a treasure hunter for your business. They dig through all the financial transactions between you (the supplier) and the retailers you sell to, looking for money you're owed but never got.
When you sell your products to big retailers, things can get messy. Suppliers deal with so many details—discounts, promotional fees, shipping terms, and more. Mistakes happen. Maybe a retailer overcharged you on a promotion, applied a fee they shouldn't have, or didn't pay you the full amount you're owed.
An audit recovery contractor specializes in finding those errors. They review your financial records, spot trends, and discrepancies, and work to get that money back into your pocket.
Can My Team Handle This?
Good question! Your team might already handle day-to-day finances like invoicing and accounts receivable, but audit recovery is a different ballgame.
Here's why:
Complex Contracts – Retailer contracts are packed with fine print and clauses. Even seasoned finance teams can miss something.
Massive Data – If you're working with multiple retailers, you're dealing with hundreds (or thousands) of transactions. It's easy for errors to slip through the cracks.
Time Constraints – Your team has enough on their plate. They may not have the bandwidth to comb through years of transactions.
How Do Audit Recovery Contractors Work?
The process is pretty straightforward:
Data Collection – You provide the contractor with your records—sales data, invoices, contracts, and retailer communications.
Analysis – They dig deep, looking for discrepancies like overpayments, unapproved deductions, or missed payments.
Recovery—Once they find the errors, they advocate for you and work with the retailer to get your money back.
Reporting – You get a detailed report showing what they found and what they recovered.
Minimizing Deduction - A reputable auditor works with your team to share best practices, improve processes, and decrease deductions over time.
HRG offers a Free assessment. Our team reviews your retailer transactions and identifies discrepancies like unapproved deductions or missed payments—all at no cost to you. With nothing to lose and everything to gain, there’s no better time to ensure you’re not leaving money on the table.
Why Should I Care?
Here's the deal: Every dollar counts. Retailers operate on razor-thin margins, and so do most suppliers. Imagine recovering tens of thousands of dollars that you thought were lost forever. That's money you can reinvest into your business—launching new products, expanding your team, or breathing easier during budget season.
Using an audit recovery contractor shows retailers you're serious about holding them accountable. It's not about being confrontational; it's about making sure the relationship stays fair and transparent.
Is It Worth It?
Absolutely. Think of audit recovery contractors as part of your financial wellness plan. Just like you'd hire an accountant to handle your taxes or a lawyer to review contracts, these pros ensure you don't leave money on the table.
If you're a retail supplier working with big accounts, there's a good chance you're owed something—and you might not even know it.
Final Thoughts
HRG invented and perfected deduction recovery. We've worked with countless suppliers overwhelmed by retail deductions and chargebacks. Our audit recovery services help level the playing field, making sure you get every penny you've earned.
Do you still need help? That's okay! Let's talk. We'd love to answer your questions and show you how much you might miss out on. After all, every little bit counts when it comes to your business.
Over a billion dollars have been recovered for our clients and counting. What are you waiting for?