Accounts Payable
IntegrityMax Strategic AP Analysis and Profit Recovery Initiative
Our Accounts Payable Recovery Auditing program utilizes our proprietary software "IntegrityMax" to perform a thorough examination of your past disbursements to verify the accuracy of every transaction. This, in conjunction with the Analysis and Identification phase of the audit allows us to:
- Analyze your vendor master file. We check all address fields for completeness and accuracy, and utilize algorithms and fuzzy logic to identify similarities in address fields that would not be captured in a straight duplication search.
- Analyze your paid invoice file. Using our proprietary process, which includes use of algorithms and fuzzy logic, we identify duplicate payments that do not show in your A/P system's reports. This can be the result of duplicate vendor entries, splits, human error, and other problems that prevent duplicates from showing in a four-way match.
- Identify all vendors having debit balances. We will assemble a complete documentation package to include relevant source documentation and verification from your vendor in support of the respective debit balances and recover funds owed due to overpayments or under deductions.
- Perform a detailed analysis and positive confirmation procedures on invoices aged greater than one hundred twenty (120) days. The detailed analysis and confirmation procedures will focus on legally reducing these liabilities by proving that they are not due (owed) to the Client's vendors.
- Assist Clients in identifying procedures to aid in catching duplicate payments before sending a check or processing an EFT. A useful management report is created that focuses on daily and weekly procedures to alleviate identifiable errors.
ProfitDirect operates nationwide. Our Accounts Payable Recovery Audit Program is highly scalable and produces outstanding results for companies with a single location, multiple locations, multiple accounting systems, multiple subsidiaries; and are local, national, or international in scope.
ProfitDirect's Accounts Payable Recovery Audit Program operates on a "pay-for-performance" basis. We are only paid a percentage of actual documented recoveries.