Accounts Payable Recovery Audit

Companies lose millions of dollars each year due to transactional errors

Accounts Payable departments face daily challenges, including high transaction volumes, multiple systems , master data decay, product returns, and keying errors that result in costly transactional errors with suppliers. Some of these challenges result in duplicate payments being made to one or more vendors. In cases when a supplier recognizes the error, an open credit is posted in the supplier’s Accounts Receivable ledger, available for the customer to recover and take back to their bottom line. The annual value of these duplicates payments and credits represent millions of dollars in recovery for most Fortune 1000 companies.

The PRGX Recovery™ Solution

PRGX Recovery enables companies to maximize audit recoveries and supplier insights. The PRGX Recovery on-demand application and services automate many auditing processes including supplier solicitation, collecting Accounts Receivable data, discovering credits, identifying potential duplicates, and getting supplier agreement on recoveries.  PRGX Recovery delivers a complete suite of performance reports and best practice recommendations for reducing recoveries.

Why PRGX Recovery?

Vendor Abrasion

Supplier Compliance

Automation, prioritization, and escalation for optimized result

Ongoing Communication

Ongoing Communication

Maximize supplier participation

Operational Flexibility

Operational Flexibility

Automation and flexible services support different cost and business models

Low Impact on Client Resources

Low Impact on Client Resources

Performed offsite with minimal client support

PRGX Recovery Features

Automated Supplier Outreach

PRGX Recovery supports communication workflow to maximize supplier participation and compliance.  Communication include initial and ongoing requests for Supplier Accounts Receivable data, as well as follow-up requests for non-compliant suppliers. PRGX supports automated outreach by email and fax, as well as mail and phone outreach.

Document Collection and Management

PRGX Recovery electronically archives all incoming supplier Accounts Receivable data and supporting transactional documentation for client for use in the auditing process.  Supporting documents are always available for clients on the PRGX Recovery application as corresponding claims are delivered.

Experienced Auditor Teams

The experienced PRGX S2P Audit Team focuses on the day to day communications with clients and suppliers

Duplicate Payment Auditing

PRGX has almost 50 years of experience developing and deploying advanced duplicate payment algorithms to maximize client recovery

Vendor Statement Auditing

PRGX auditors review all supplier Accounts Receivable documents for potential credits and communicate directly with suppliers to secure written verification of all claims.

Client Visibility

Clients have 24×7 access to the PRGX Recovery application.  From their dashboard, clients can see the status of the audit, review claims, check supplier statuses, and communicate with PRGX auditors about the status of claims and suppliers.

Updated Supplier Accounts Receivable Contact Details

PRGX Recovery delivers updated supplier Accounts Receivable contact data as well as updated parent/subsidiary reports and supplier compliance tracking.

Integrated Real-Time Reporting

PRGX Recovery provides companies with a suite of up-to-the-minute reports on suppliers and recoveries for root cause analysis.

PRGX Supplier Network

PRGX continues to build and leverage our supplier network of over three million supplier entities to maintain and enhance the quality of supplier information across all clients.

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