Vendor Credits

The number of vendors a Fortune 1000 company works with may number in the thousands. Clients and their vendors employ disparate types of accounting systems, many of which fail to communicate successfully. Credits, overpayments, unapplied cash, rebates and duplicate payments owed to our clients may age and will disappear from the automated statements our clients receive from their own accounting systems. The miscommunications these disparate accounting systems cause result in our clients losing hundreds of thousands of dollars owed to them that unknowingly become written off within their own systems — ultimately these lost credits are taken as profits by their vendors.

Unlike traditional Accounts Payable audit companies, our partner reviews the vendor’s receivable records rather than our client’s payable records. As a result, our partner successfully uncovers credits that go undiscovered by traditional AP audit methods. Many clients use our services in conjunction with traditional audit companies since there tends to be little or no overlap in the recovery targets or methods employed by each.

Benefits:

• Recoveries average $1Million for every $1Billion in annual spend each audit year
• Recoveries are the product of unidentified credits on vendors’ books — “new found money”
• Our audit uncovers credits owed that traditional post audit firms’ processes or statement reviews do not
• Clients combine our services with traditional AP audits since overlap efforts are nonexistent
• Our audit processes do not disturb client’s business operations
• Our audit processes do not harm client/vendor relationships — improves communications with vendors
• Recoveries hit client’s books within 6 to 8 weeks