Accounts Payable Analysis
Accounts Payable Analysis is the specialist review of financial data which examines the historical financial relationship our client has with its suppliers, and is used for reducing erroneous payments, improving processes, and enhancing performance. Clients receive actionable recommendations to ensure outstanding overpayments are claimed in full and further losses reduced.
Profectus uses proprietary methodologies, analytical procedures and reporting tools to examine our clients’ financial data to identify a wide range of transaction errors such as;
- duplicate payments
- GST errors
- pricing and discount anomalies
- potentially fraudulent patterns
- data quality issues.
These findings are then verified against source documentation and missed credits are presented for approval, and overpayments recovered. Profectus undertakes all tasks to ensure there is minimal impact on your business, and the services are unobtrusive to day-to-day operations.
Benefits of the analysis include:
- identifies, validates and recovers misappropriated funds resulting from erroneous transactions
- provides valuable audit reporting on over-payments and purchasing processes
- provides suggested system and procedural improvements to mitigate future inaccuracies
- delivers immediate cash savings, and potential financial inflows to add to current year net profit
- reduces costs, improves operational performance and ensures compliance
- ensures minimal impact on your business
- highly experienced delivery teams, unique processes and powerful technology deliver immediate, measurable results
- provides a comprehensive range of statistical reports which can complement your internal reporting functions, and are tailored to communicate findings based on specific needs and requirements
- Profectus offers success based or fee for service options
- low touch delivery model to ensure minimum impact on your business (6 days over a 6 month project).