Why recovery reviews?Change is constant. Business agility in a complex business ecosystem enables companies to continuously adapt and evolve. The initiatives of change drive successful future business outcomes - often change results in inadvertent overpayments.
A few reasons why recovery reviews are necessary:
- Organizational and/or staff changes.
- Multiple supplier and disbursement locations.
- System upgrades.
- Mergers, acquisitions and expansions.
Since change often results in overpayments, the best time to perform a recovery review is as soon as possible (especially since recoveries become more difficult to obtain the more they age).
Typical profit recovery areas:
The profit recovery processAlthough we begin our reviews in Accounts Payable, where payments occur, our professionals also focus on other areas to identify and recover additional opportunities.
Pinpoint powered by Transparent 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.
For more information about how we work and our audit process, please see our Frequently Asked Questions.