Profectus to streamline TfNSW supplier contract management

Transport for NSW has signed an agreement with Profectus Group to help streamline compliance of complex supplier contracts.

TfNSW holds supplier contracts with many organisations for provision of technology, materials and parts, maintenance, cleaning and other services critical to the upkeep, safety and on-time running of the state’s transport network of buses, trains, light rail and ferries.

Under the arrangement, Profectus is responsible for cross-referencing contract terms with invoices to identify instances of undercharging or overcharging.

“Any organisation with multiple suppliers understands how difficult the process of compliance can be, particularly when that process is manual,” said Chris Hutchins, CEO, Profectus Group.

“When the organisation is as large and important as Transport for NSW, stretching across a state and featuring hundreds of complex contracts and agreements ... the task becomes more complex.

“Our role will be to streamline this process and remove the manual nature of the process, while providing the CPO and their team granular visibility over complex contract terms and associated costs.”

Profectus will review historical charges and provide TfNSW with the intelligence to identify undercharging or overcharging as it happens, to help avoid these instances in the future.

The agreement with Profectus includes an initial plan to verify the contract compliance process for 20 of TfNSW’s largest suppliers.

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