Originally appeared in CFO Dive: August 13, 2020
Overpayments in the source-to-pay (S2P) cycle are almost inevitable in large organizations with a high volume of invoices. That’s why CFOs are increasingly adding recovery audits to the process. While they may have once been seen as witch hunts, today the audits are considered a natural fit for a healthy S2P cycle.
Technology is helping to fuel the trend. Big data is improving procurement and accounts-payable efficiency, making recovery audits better able to root out and rectify errors — and to do so sensitively.