Download Our E-book:
“A Playbook for Successful Recovery Audits”
Effective management of the source-to-pay (S2P) cycle is vital to keeping costs in check. It starts with finding suitable suppliers of goods and services, then moves into an intensive phase where contracts are hammered out. In the past, the cycle would have concluded when invoices were paid. But to keep S2P profitable, businesses need to add an additional step.
Recovery audits are now an essential part of the process. While they might have been seen as witch hunts in the past, businesses have realized they fit naturally into a healthy S2P cycle. By using technology like big data to improve procurement and accounts payable efficiency, recovery audits can sensitively root out and rectify errors of overpayment that are almost inevitable in large organizations with a high volume of payment transactions.
This e-book will outline six core factors that contribute to success, and a real-world example demonstrating the value a comprehensive recovery audit can deliver.