We have saved our clients over $1,000,000,000 in Accounts Payable.
Our customers correct internally 5-20 basis points of annual spend as errors that would have gone undetected. This can fluctuate based on ERP, number of data entry people, volume of invoices, and number of AP processing facilities and systems.
We provide back concise reports identifying and documenting every potential error case along with descriptions defining process improvements and system enhancements.
Executive Summary Report – This report summarizes the number and dollar amount of errors by category. Depending on the ERP AP System, 27-48 different error categories exist.
Vendor Detail (Outstanding Error Cases) – This report has each error case outlined with the detail – what caused the error, why, and who was the operator. For example, was the wrong vendor picked, was the invoice keyed incorrectly, was the invoice paid from a secondary AP system.
Vendor Detail (Errors Found and Already Corrected) – This report identifies errors made and corrected. This is a great for process and business improvement information. Accounts payable management can gain visibility to all error transactions within accounts payable and make process corrections or retrain staff.
Fraud Reporting – We analyze all accounts payable master records for suspect behavior.
Deduction Notices – Prebuilt notices are supplied with our review to expedite the deduction process. These deduction notices are customized for your company, and can be forwarded to vendors to advise of the upcoming deduction.