Duplicate Payments Recovery Audit
Accounts Payable inaccuracies inevitably occur due to a variety of reasons. These include human error, system changes, staff turnover or even just the sheer volume of invoices being processed. Most organizations have now introduced intelligent Accounts Payable software systems to prevent duplicate or incorrect payments occurring. Some even perform in-house reviews of their Accounts Payable data to check for these errors. However, this will only go so far.
Audit Partnership’s Duplicate Payments Recovery Audit will analyses your full purchase ledger using fuzzy matching logic across over 50 unique algorithms to identify any potential overpayments and will recover these funds directly to you. Using a combination of bespoke, in-house developed software and expertly trained auditors, Audit Partnership offer an unrivalled level of coverage with no cherry picking, in order to identify and recover all errors that exist.
As part of our true partnership approach, we also provide industry-leading management information and reporting to give full transparency and root cause analysis information, along with recommendations and training to reduce the number of errors being made in the future. We provide a no risk, end-to-end recovery audit solution that delivers maximum recoveries, in a completely non-intrusive way.
Our expert team of auditors will identify, investigate and recover:
- Duplicate payments/overcharges
- Incorrect payments/payments to the wrong vendors
- Credits processed as invoices
- Invoice overpayments.
There are a number of benefits to performing this audit including:
- Additional monies to your bottom line
- Minimizing future leakage of profit
- Removing the burden from Accounts Payable, allowing them to focus on current issues
- Identify improvement areas for processes and training needs for employees.