Accounts Payable Audits

YOU PROBABLY SUFFER FROM

3.5 - 4.5 ERRORS

IN EVERY 10,000 TRANSACTIONS

THE AVERAGE FINANCIAL INFLOW IS

$25,000 - $75,000

PER 100 MILLION AUDITED

PROFECTUS HAVE RECOVERED MORE THAN

$25 MILLION

OF TRANSACTIONAL ERRORS IN THE LAST 12 MONTHS

Profectus are market leaders in detecting and recovering Accounts Payable errors.

  • Profectus achieves higher identification and recovery rate than our competitors by 25%+.
  • Profectus have recovered more than $25 Million in transactional errors over the last 12 months.

Profectus Accounts Payable Audits  help to “plug the gap” and recovered items will go straight to your bottom line.

  • Profectus Audits identify and recover duplicate payments, overpayments, VAT/GST processing errors and aged supplier statement credits.
  • Profectus in house tools can run over 30+ algorithms across tens of millions of line items to identify potential flawed transactions outside the realm of most internal ERP based checks and controls. 
  • Profectus take on the full scope of data ingestion,  analytics, results verification against source documents as well as supplier liaison and recovery of errors using industry standard professionals from kick off to project completion. 

Did you know?

SAP/Oracle/Microsoft Dynamics AX or other similar ERP systems including invoice capture technology will not stop all errors associated with duplicate or overpayments and GST processing errors. 

3.5 to 4.5 errors occur in every 10,000 transactions.

These errors will be recovered by Profectus’ Accounts Payable Audits, increasing the returns to your bottom line.

The average financial inflow is $25,000 to $75,000 per $100 million transactions audited!

Total value of accounts payables analysed per annum by Profectus -
over $150 billion aud

Large Transactional Volume audits made easy.

With our unique software and highly skilled staff, we partner with you to conduct all analysis, verification and supplier liaison.

Choose Profectus’ Accounts Payable Audits as an extension of your internal audit functions (detective control) and improve your business. Audit up to 4 years of historical data, then re-audit in real time, quarterly, six monthly, or annually.

For Supplier Statement auditing, we review statements for credits and debit balances, and run ongoing monthly analyses. Our post-analysis reporting highlights errors and their causes, benchmarking your company performance against equivalent organizations.

You can identify and recover all key transaction errors by combining our Accounts Payable Audits with our Merchandise and Contract Compliance Audits.

Key questions to ask your business

■ Has your finance team, ever had to amend duplicate payment or payment errors?

■ When was your last Accounts Payable Audit?

■ Are you satisfied that your Accounts Payable Audit Controls are adequate?

■ Are you outsourcing any Accounts Payable or Invoice Processing services overseas to a 3rd party? Do you trust they are 100% accurate 100% of the time?