Our Supplier Payment Reviews reveal more, to recover more

Our Supplier Payment Reviews reveal more, to recover more...

Accounts payable departments process hundreds of thousands of invoices annually, most without error. Unfortunately, supplier billing practices, incomplete or inaccurate invoices and challenges with ERP controls contribute to duplicate payments, overpayments and other errors. While the number of occurrences is small on a percentage basis, the aggregate loss can be significant. Revenew’s unique methodology enables us to explore and recover transaction and contract losses – consistently delivering greater detection and recovery than can be achieved in-house or by other firms.

Revenew specializes in companies with complex A/P systems. Our founders have considerable experience working as accounts payable managers for large Fortune 100 companies. Based on their “insider” knowledge of a corporation’s structure, we developed the most comprehensive, efficient and minimally-intrusive recovery system available.

Our proprietary software and methodology contribute to the unparalleled results that we’re able to achieve. We developed our VERIPRO software and continually customize it to address client transaction types and vendor bases. While most firms run 10 to 15 reports on your data, our programs perform over 40 tests, with 70 root cause analyses.

We reviewed over 2,395,000 invoices and contacted 25,376 vendors – for just one client.

 

Our Supplier Payment Reviews Methodology

Collect invoices and vendor statements.

  • Analyze the materials for errors and missing items.
  • Recover funds from duplicate or erroneous payments, overcharges/overpayments, returned items, unclaimed credits and rebates.
  • Reduce duplicate payments, lost checks and fraud potential.
  • Assess vendor master practices – objectively and non-intrusively.
  • Validate with 100% claim validation and benchmarking.
  • Improve and recommend process solutions to prevent future losses and preserve revenue.