Given the extremely competitive environment and economic challenges faced by nearly all businesses today, self funding and high ROI initiatives are necessary to survival. Following are some of the benefits of a contingency-fee based A/P Review from Recapture Consulting Inc. (RCI).

 

 

Zero dollar investment and virtually no client time or resources are needed to attain significant returns. It’s not uncommon for RCI clients to receive net refunds and credits totaling hundreds of thousands of dollars. Our contingency-fee structure provides a self funding mechanism to achieve an ROI that will make any CFO pleased.

 

RCI consultants systematically review both electronic and hard copy A/P files with the singular goal of identifying anomalies between the documents supporting a transaction, such as the contract or purchase order (P.O.) and the ensuing invoice and payment.

 

Each engagement concludes with a summary report; itemizing all recoveries by type, vendor and status. The RCI findings report also contains valuable insight and suggestions to help our clients reduce their future exposure to overpayments, and recommended ways to improve their operational efficiency. Many RCI clients have found these deliverables to be very useful supporting documentation in regards to their Sarbanes-Oxley 404 compliance.

 

Following are the primary RCI Accounts Payable Review procedures:

 

Identify & Analyze: RCI consultants systematically compare the source documents that relate to each transaction with the invoice and payment. Our goal, of course, is to identify inconsistencies that indicate potential overpayments.

 

Verify & Document: Recapture consultants initiate their own internal verification to confirm potential overpayments. Once verification is obtained, the prospective overpayment is presented to the vendor for confirmation. The client is invoiced only after the vendor has acknowledged and confirmed an overpayment. Therefore the client is completely relieved of the burden of confirming overpayments.

 

Recovery/Collection: Often the most challenging phase- our engagement is not complete until our client has received complete reimbursement from the vendor or taxing authority. This means we are completely responsible for all collections until our client has use of funds.

 

Educate: The final engagement report also includes observations as well as detailed recommendations for changes in policies, practices and controls to reduce your exposure to future overpayments.

 

To learn more or receive information email: info@recaptureconsulting.com