Profectus’ role will be to audit the invoices of Telstra’s suppliers in the immediate term to help it identify instances of it being overcharged and help it recover finances it is entitled to.

In the longer term, Profectus will help suppliers identify how errors might have been made and assist them in rectifying those issues for future invoicing.

“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,” said Profectus Group CEO Chris Hutchins.

“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.”

Telstra provides 18.8 million retail mobile services, 3.8 million retail fixed bundles and standalone data services and 960,000 retail fixed standalone voice services.

It is also one of Australia’s largest employers with a total workforce exceeding 37,000 people.