Revolutionizing Accounts Payable: The Rise of AP Audit Tools in the Next Generation of Recovery Auditing
The Accounts Payable (AP) Recovery Audit industry emerged decades ago to address over-payments, over-charges, and accounting errors in medium and large-sized companies. Due to the high volume of transactions, companies […]
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Maximizing Financial Health: The Crucial Role of AP Recovery Audits for Healthcare Supply Chain Leaders
In the intricate world of healthcare supply chains, where precision and reliability are paramount, the Accounts Payable (AP) process plays a critical role. One often underestimated strategy for enhancing supplier […]
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Unveiling Efficiency: Exploring AP Audit Objectives for Financial Excellence
Over the last three decades, Accounts Payable (AP) Recovery Audits have been a widely known best practice for medium to large size organizations. Depending on the environment, organization and unique […]
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Your Supplier Is Not the Enemy
Critical Supplier Relationships and Audit Guidelines In any Accounts Payable Recovery Audit, a crucial but often abused component is the protection of the critical relationship clients have with their suppliers. […]
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Goods Received Not Invoiced (GRNI) – The Growing Financial Impact
Companies with a large, complex supply chain have many issues to deal with including shipping delays, receiving issues, and inefficiencies within the procure-to-pay process. If you purchase a large volume […]
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Vendor Master Best Practices: Keeping It Clean Mitigates Risk
Importance of the Vendor Master File As businesses change and grow, maintaining a clean vendor master file by using a combination of controls around the setup, maintenance and archiving of […]
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Money Trees Do Exist! Recover Hidden Profits
As organizations in many industries struggle through the pandemic for countless reasons, there are hidden profits, a virtual money tree – in the historical supplier payments that will be lost […]
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Fraud Alert: Banking Information Change Fraud – A Known Scheme with a Twist
Fraudsters are as creative as ever. Recently, I was told a story of fraud that resulted in more than $750,000 being paid to some very resourceful bad guys. You wouldn’t […]
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Accounts Payable Recovery Audits – What Are They and Why Should They Be Considered a Best Practice?
What is an Accounts Payable Recovery Audit? Quite simply, it is a review of your Accounts Payable historical data for the purpose of identifying and recovering funds paid to your […]
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Accounts Payable & Covid-19: Preparing for the Short-term Impacts and Examination of what Lies Beyond
More rapidly than anyone would have imagined, the Coronavirus has placed a greater strain on businesses worldwide more than any other natural phenomenon in recent memory. Before it ends, this […]
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Is an Accounts Payable Recovery Audit a Service or a Commodity?
When shopping for a firm to provide Accounts Payable Recovery Audit services, all too often many organizations treat that practice as though they were buying a commodity. Some organizations believe […]
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Vendor Master Database – The Cornerstone to a Successful Supply Chain
Vendor databases can go by different names depending on your industry and company: Vendor Master, Supplier Master File, Vendor Management Program. Regardless of the name, an accurate and complete vendor […]
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