Did you know what percentage of your organisation’s annual spend is lost in duplicate payments each year? During the process from purchase to payment, all sorts of errors can occur, and all these add up. The best solution is to implement recovery audit software that will detect all unnecessary payments as well as other kinds of fraud and invoicing errors. Deploy an effective accounts payable audit programme, at a low cost of ownership, as soon as possible to make instant cost efficiencies.

Out of the many issues that can occur when processing payments, duplicate payments are the most costly. Medium and large organisations are at substantial risk of paying their supplier invoices twice. To increase the detection and prevention of these errors, it’s not necessary to employ an expensive Recovery Auditor. By empowering your own Accounts payable team with the right software, you will be able to improve internal processes without paying auditor fees.

Do you need to spend any money at all controlling your financial transactions? Recovery audit software providers can give you an answer. Most offer a free AP health check to qualifying organisations, which provides evidence of any compliance issues or fraud within your system with a partial analysis over several days. You can then move forward with the assurance that there is a sound business case for installing this software.

Obtaining a health-check as soon as possible will also save you money. The chance of recovering duplicate payments decreases each month as suppliers go out of business, get bought or merge. The older the invoice, the more it costs to recover. Act on any inconsistencies sooner rather than later. This is simple with audit software, which is easy to use and providers offer free online training for your staff. Each programme will be specifically tailored to your organisation’s needs.

To optimise profitability, and protect your business from fraud and error, turn to recovery audit software. Additional benefits are the improvement of your current AP systems. Duplicate payments will become a thing of the past with an accounts payable audit system in place to process all your payment data and shield your valuable working capital.

Please visit http://www.fiscaltechnologies.com/ for further information about this topic.

http://www.fiscaltechnologies.com/

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