Australian telecom giant Telstra taps Profectus Group for audit expertise

Profectus Group, a tech-driven services provider of compliance and recovery solutions, has signed an agreement with Telstra to help one of Australia’s largest telecommunications providers to identify instances of overcharging from suppliers. Telstra offers a comprehensive range of communications services and competing in all telecommunications markets.

What does Profectus bring to the partnership?

Telstra offers 18.8 million retail mobile services, 3.8 million retail fixed bundles and standalone data services and 960,000 retail fixed standalone voice services. In addition, it is also one of Australia’s largest employers, with a total workforce exceeding 37,000 people. It relies on suppliers to support its significant retail and wholesale arm, its employees and more.

Profectus’ role will be to audit the invoices of one of its suppliers in the immediate term to help it identify instances of it being overcharged by the supplier, and help it recover finances it is entitled to. In the longer term, Profectus is well positioned to help suppliers identify how errors might have been made and assist them in rectifying those issues for future invoicing.

What does the partnership mean for Prefectus?

Chris Hutchins, Chief Executive Officer at Profectus Group
Chris Hutchins, Chief Executive Officer at Profectus Group

“Telstra’s importance to Australia’s economy can’t be understated and its reach extends beyond its metaphorical four walls and into a supply chain that touches almost every aspect of Australian life,” commented Chris Hutchins, Chief Executive Officer at Profectus Group.

“Errors in invoicing from suppliers happen in every sector across the country, and Telstra is doing its due diligence to ensure that its supply chain is healthy and its stakeholders – from its employees to shareholders and customers – are getting the best deal,” Chris Hutchins said.