Accounts Payable Recovery

Today’s business environment must be filled with constant change in order for companies to adapt and evolve. Technology and process improvements often lead to increased profits and reduced workload. However, these changes may also lead to unacceptable downsides in certain business groups such as accounts payable and cash management. Overpayments and unidentified credits can eat away at the savings from these changes.

Examples of business factors that may require an Accounts Payable Recovery Review:

  • Organizational and/or staff changes
  • Multiple supplier and disbursement locations
  • System upgrades
  • Mergers, acquisitions and expansions

Many companies believe that they have the necessary policies and procedures in place to catch any errors. They believe their best practices have been implemented, so there is no need for a review. However, consider all the reasons overpayments occur such as:

  • Duplicate payments
  • Wrong supplier payments
  • Unnecessary escheatment
  • Unprocessed credits
  • Currency errors
  • Contract compliance reviews
  • Unissued rebates
  • Uncredited returns
  • Sales & use tax overcharges

Our Process

Although we begin our reviews in Accounts Payable where payments occur, our professionals also focus on other areas to identify and recover additional opportunities. Our team identifies both transaction & contractual errors including duplicate payments, pricing errors, missed rebates or discounts, sales and use tax, invoicing errors & supplier overcharges.

Depending on factors such as your company’s size, number of suppliers, the scope of the audit and ease of source document access, we can normally complete the profit recovery process review between 3 to 6 months.