Accounts Payable Recovery Audit

Recover Lost Profit and Prevent Future Errors

Your supplier base exposes you to a variety of risks. Overcharges and errors in your accounts payable processes can have a substantial impact on your bottom line. Despite technological advances and proper controls, these errors can still slip through the cracks. We can help you reach wider, dig deeper and act faster to uncover and recover lost profit that even the most sophisticated solutions couldn’t get to before.

See What You’ve Been Missing™

A Customized Solution to Fit Your Needs

One-size-fits-all audit programs target rapid payback by finding basic errors only. Our customized solution goes far deeper by identifying and recovering lost profit to pinpoint gaps in business processes and systems that create errors. Our combination of advanced audit technology and proven experience delivers the most comprehensive audit available, enabling you to improve profitability now and in the future.

What is Accounts Payable Recovery Audit?
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What is Accounts Payable Recovery Audit?

What is the goal of a PRGX accounts payable recovery audit? Standard accounts payable audits address common errors in procurement and accounts payable processes, which can result in as much as 5% to 10% of profit being lost.  John Heighway, PRGX VP of Business Development for UK and Europe, dives into the PRGX accounts payable recovery audit solution. Watch the video to learn more today!

Face These Challenges Head-On

Invoicing Errors

Despite advanced supplier invoice processing systems, inadvertent errors lead to overpayments, under-deductions and ultimately, profit loss. We help you identify and correct these risks while recovering lost profit from:

  • Duplicate payments
  • Overpayments
  • Unused statement credits
  • Processing errors

Complicated Internal Processes

Intricate, broken business processes, personnel turnover, siloed functions and human error can cause leaks in your source-to-pay system. We identify gaps in business processes and offer actionable insights to prevent reoccurrences.

PRGX Solution Suite

Recovery Audit

PRGX Leads the Industry in Recovery Overpayments

Overpayments are inevitable for most transaction-intensive companies – but finding them, recovering them and keeping them from happening again delivers real value to your bottom line. For 50 years we’ve mastered Recovery Audit and continue to be a global leader, recovering more than $1.2 billion annually for our clients.

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Retail Merchandise Audit

Recover Money Quickly

Thousands of vendors, tens of thousands of items in inventory and millions of transactions – with countless moving parts – create an environment that’s effective at hiding things such as unapplied discounts and under-deductions. Our Retail Merchandise Audit solution identifies gaps in processes and systems to prevent future errors, all while helping you recover money quickly. That’s why we’re trusted by 75% of the world’s largest retailers.

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Contract Compliance

Realize Maximum Contract Value

With the significant number of third parties you manage, making sure they fully deliver on contracted terms can be a huge task. Our Contract Compliance Audit services help ensure that your contracts are thorough and effective and that all third parties are performing and invoicing to your negotiated agreements.

Our services cover:

  • Price variance
  • Labor rates and per diems
  • Equipment and materials
  • Mark-ups and multipliers
  • Pass-throughs
  • Profit and overhead

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Advanced Analytics

More Data, More Expertise, More Value

Every day that your source-to-pay cycle isn’t optimized is a missed opportunity to find the resources you need to invest in and grow your business.  Our Advanced Analytics combine industry-leading consulting and data expertise with robust tools to rapidly uncover insight and take action to deliver bottom-line results.

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Technology-Enabled Platform

Protecting highly sensitive client data

We utilize a unique technology triad, comprised of our Verigon® Solution Suite, Epiphany Data Foundation™, and Panoptic™ Compliance Audit Platform, that enables our specialized teams to efficiently and securely perform a variety of audits – to help you uncover value in your processes. Our proprietary platform, the Verigon® Solution Suite, rapidly takes in huge volumes of transaction data from accounting, ERP, procurement and other systems. Once captured and streamlined, data is housed in our Epiphany Data Foundation™- the foundation of our recovery audit, contract compliance and advanced analytics solutions. At the same time, enjoy complete visibility into the audit process and fund recovery via our Panoptic™ Compliance Audit Platform.

To help keep our client data secure, our technology maintains the privacy, integrity and controlled use of confidential information, including personally identifiable information through a combination of hardware, software and physical security, coupled with strong internal data security processes, procedures and controls that meet or exceed relevant laws, regulations and industry best practices.

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