Invisible Services, Visible Costs:
Paying For What You Receive
Businesses continue to have ineffective contract visibility on the services being delivered by their ’trusted’ contracted partners. This widespread problem often leads to financial losses and operational inefficiencies. In our day-to-day lives, this situation is most likened to a mechanic charging for a full car service, yet only changing the oil and checking tyre pressure! The mechanic is paid in full, yet the work is far from complete.
Building Maintenance – Overcharged on invoices, shortchanged on services
For building maintenance related contracts, it is critical to manage and oversee service delivery associated with maintenance tasks. Where there is limited visibility on the quality and quantity of this maintenance work, there is ongoing risk of overpaying for services and lost organisational value.
For Facility Management teams, routine maintenance jobs have a defined scope and involve a schedule of activities. These include:
- Critical testing of fire safety systems.
- Testing the automatic doors.
- Regular inspection of HVAC systems.
- Conducting routine electrical safety checks.
- Performing structural inspections.
Usually, these tasks are conducted to meet regulatory or client requirements. However, the traditional invoicing process often overlooks the actual completion and quality of these services. Invoicing is often based upon the contractor delivering the services over an extended period – it does not account for work that remains incomplete and carries over into the next time period. Whilst there are numerous reasons why a contractor may not be able to complete a job, businesses are still paying in full for outcomes yet to be delivered to meet their important compliance requirements.
How Can You Improve Contractor Outcomes & Visibility?
Contractor transparency and visibility over your repairs and maintenance activities ensures your business is paying for work that has been completed in full. This includes peace of mind for critical safety systems, ensuring they are up to date in relations to their functionality and compliance.
The key to full visibility is simple – complete, end to end, accurate data capture and measurement. Verified’s approach to data-driven contractor management significantly reduces the risk of overpayment and non-compliance.
Verified uncovered a case where a company was paying 30% more for the services that were delivered, exposing their employees to serious compliance and safety risks.
Proprietary Verified data collected over two decades shows that where companies are consistently failing to measure contractor activity, and as result overpaying for contractor service delivery. We have even uncovered a case where a company was paying 30% more for the services that were delivered and exposing their employees to serious compliance and safety risks!
By creating an independent, third-party link between all aspects of your facility management workflow (e.g. work order processing, invoicing verification, onsite/offsite visibility), facility management teams and their stakeholders can reduce the risk overpaying the invoice, irrespective of what is delivered.
Improve Your Contractor Visibility For 2024
Verified’s market leading technology provides the critical connection that objectively validates all completed contractor workflow activity. Our advanced system ensures every aspect of your contractor’s work from commencement to completion is thoroughly monitored and authenticated. With Verified, you gain the assurance that every invoice you pay reflects the actual work done, safeguarding your sites, and enhancing operational efficiency.
For further information on how you can drive transparency through contractor engagements to ensure your invoicing matches the work done in the field, call 1300 133 950 or send an email.