Our client's revenue stream that is in excess of $600 million annually, comprises of dues that are collected and paid to our client by external private sector organisations. Since 2011, our engagement, which involved analysing data, performing process reviews and investigating the collection and payment of these dues by these organisations, identified significant shortfalls. These were caused by system errors, incorrect calculation of collection and refunds of dues, incorrect payments, incorrect processes and procedures, and incorrect understanding of our client's issued guidelines. Our analytical and investigative work resulted in the successful recovery of the shortfalls as well as penalty interest imposed by our client on some of these organisations.
During our review in 2016, we identified that due to non-compliance with our client's guidelines and legislation, lack of obtaining authorisation and inadequate testing of system changes resulted in a shortfall plus penalty interest of approximately $1 million. This shortfall at one of the external private sector organisation will be recovered by our client during April 2017.
You can read additional case studies about how we’ve helped clients across the private, public and Not For Profit sectors at our Success Stories library.
To find out how Centium may be able to assist your organisation in achieving a positive outcome, please contact any of our Directors for an informal discussion.
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