Accounts
payable reviews can directly affect
the bottom line while also allowing
our clients to gain visibility
and control over their purchasing
process. Errors in the purchasing
process are typically isolated
incidences of human error circumventing
existing controls. Change also
creates opportunity for error:
employee turnover, system change,
mergers, acquisitions, etc. Suppliers/taxing
authorities typically do not disclose
any overpayments made.
Discussion
points to determine the benefit of
performing an AP Review for your company
include:
- What
is the number of transactions
per month?
- What
is the dollar value per month?
- What
are your current safeguards against
errors?
- Is
your payment process manual or
automated?
- Does
your staff handle the collection?
- Do
you review actual invoices?
- Does
the collection and identification
of credits burden you and your
staff?
With
one data extraction A-SALT Group will
review several typical areas of recovery.
Some of these areas include: duplicate
payments, wrong vendor payments, earned
rebates/discounts not utilized or
credited, pricing compliance and sales
tax paid to authorities and vendors.
On
average the typical recovery rate
is between .001 and .0001 of dollars
reviewed, depending on the scope of
the review.
A-SALT
Group’s Accounts Payable Review
Services will:
- Work
with the client’s IT department
on A/P data extraction.
- Review
client systems and A/P procedures.
- Review
the purchasing cycle.
- Assess
the controls currently in place
for purchasing.
- Generate
vendor mailing on client’s
letterhead.
- Identify,
validate and recover any overpayment
opportunities.
- Work
with the client’s vendors
to process credits and recoveries.
- Provide
detailed project analysis and
final report that includes:
- Root
cause analysis for the identified
recoveries.
- Process
improvement recommendations.
A-SALT
Group performs Accounts Payable Reviews
at no risk to our clients. We
don’t get paid until you realize
the identified recoveries!
Accounts
Payable Review