A Comprehensive Approach
Tackling both electronic and paper systems, we perform an extensive review of your accounts payable systems.
We review purchase orders, receivings, invoices and many other documents that support the payment process.
Once the lost dollars are back in your hands, we present you with a extensive management report that details the process and our findings. This empowers you and your team to implement improved accounts payable procedures
Profit Recovery with No Cash Outlay
We take pride in maximizing your returns. In fact, we are so confident in our abilities that we stake both our reputation and our compensation on our performance.
First, we get to know your business. We sit down with the Chief Financial Officer, Controller, Accounts Payable Manager or other designated person to get a complete understanding of the scope of the audit work that is required.
We then present an action plan that outlines the recommended processes, a schedule of when the work will be carried out and the percentage of the recovered funds that compensates us for our efforts. Normally, this percentage is approximately 35 to 40 percent for primary audits and 45 to 50 percent for secondary audits. Of course, every case is different so percentages will vary.
A Spare Hundred Thousand Dollars
The amount we are able to recover depends on several factors. These factors include: the types of errors particular to your industry sector, the amount of gross annual sales, and the types of agreements you have with your vendors and suppliers concerning discounts, allowances and returns.
Returns vary - in some very large companies we have acheived recoveries in the millions of dollars. Typically, we experience accounts payable recoveries ranging from tens of thousands to hundreds of thousands of dollars.
No matter what size business, the amount of money we are able to recover falls somewhere between .005% to .01% of your gross income.