The Secret Of How To Stop the Lost money caused by Poor audit Values and Develop the Payment Methods in Your Accounts tools
Although the Duplicate disbursements numberand size is normally less than compliance or pricing errors this sort of overpayment is largely feared by accounts payable management as the duty is on them to warrant that these errors do not ensueby using recovery audit software.
How Do They Occur?
ERP or Accounting systems should have the controls in place to highlight, track or catch duplicate payments overpayments. Yet, the likelihood of human error means none of the packages are sophisticated enough to prevent more than about 65% occurrence. The Institute of Management and Administration agrees that “Completely eliminating duplicate payments using recovery audit software may be an impossible dream”..
External Support
If you need to purchase a system to maintain this process, then there are a number of key features that need to be considered in order to ensure the optimum fit. These include:
-Low Cost of ownership - No expensive or time consuming training or installation costs as our recovery audit software is designed intended to work straightaway.
-Process - It can be set up and run to recover overpayments in under an hour. It can be used just before your payment run and avert expensive recovery costs.
-Superior Analysis - Ensure the software includes the most up to date and industry strength formulas and pattern matching techniques.
-More Control- Puts you in charge of your accounts payable audit process and enables you to do this both quickly and cost effectively.
-Avoidance - The system allows you to pre-process your upcoming payments so you should never pay a duplicate invoice again.
-Ease of Use- Anyone in your Accounts Payable team can us it and you don’t need a degree in auditing. No re-training costs required necessary.
-Improve Processes - The cost recovery report clearly shows you the reason for the duplicate and enables you to improve your processes to prevent it happening.
FISCAL Technologies is the only company to specialise in recovery audit software detection solutions. We empower Accounts Payable managers and have analysed client data from all the major financial systems and in 100% of cases we have discovered accidental duplicate payments that they were ingnorant of saved each many thousands of dollars. We offer a no expense overpayment health check and reportto all qualifying organisations.
Please visit - www.fiscaltechnologies.com