Accounts Payable Recovery Audit

Get the most out of your financial data. Identify and recover undue payments, correct incorrectly processed VAT, reclaim missed profits and reduce future risks with a data-driven accounts payable recovery audit.

What is an accounts payable recovery audit?

An accounts payable recovery audit helps your organization with identifying and recovering risks and undue payments within all outgoing cash flows.

Do you recognize the following?

The challenge

Do you regularly receive unknown payments from suppliers into your bank account? Are deliveries double-invoiced and are corrections not always processed? Are the margins on projects negative and does it turn out that too much money has been paid? Are you sure that your organization has no double payments due to the large volume of invoices?

Every year, organizations lose millions due to undue payments within outgoing cash flows. Experience has shown that regardless of defined internal procedures, policies and developments within ERP systems, no organization has yet proved to be impeccable.

We identify the following

The risks

There are risks involved within all outgoing payments of an organization.

Based on more than 2,550 successful accounts payable recovery audits, our proprietary platform and its ongoing development, there are now over 450 in-house developed algorithms that structurally identify the following risks:

Double charged invoices
Payments in wrong currencies
Duplicate payments
Incorrect or incorrectly booked VAT
Outstanding balances
Missed discounts
Fraud

Some examples

11 risks that influence the purchase-to-pay process

Purchase invoices received in both hard copy and digitally
A contaminated accounts payable vendor master file
Multiple approvers within the purchase-to-pay process that cause payment delays
Implementation of new financial software ERP
Organizational changes such as mergers, acquisitions and reorganizations
Staff changes within the organization, internal turnover and temporary hiring of third parties
Functional and process changes within the purchase-to-pay process (P2P)
Urgent payments or direct debits
Both pro-forma invoices and final invoices that are paid
Suppliers sending the same invoices multiple times
Lack of knowledge regarding the application of correct VAT rates

End-to-end solution

By using more than 450 in-house developed algorithms within the recovery audit, we analyze your organization’s accounts payable data and identify risks that can be recovered – up to 5% of your total expenditure.

The combination of technology and expertise ensures that our auditors analyze large volumes of data and identify risks quickly and effectively. With minimal effort on your side.

We help your organization to identify and recover risks and undue payments, gain full control over all outgoing cash flows and reduce payment risks within the purchase-to-pay process.

Missed profits from supplier and administrative errors that would otherwise remain hidden can now be used effectively elsewhere in the organization.

´We merkten dat er in een korte tijd druk was ontstaan op onze marges. Zodoende zijn wij in contact getreden met SpendLab. Hun dienstverlening sprak ons erg aan, omdat ze tegen een no cure, no pay principe een opdracht wilde verzorgen. De gepresenteerde- en persoonlijke aanpak heeft ons vervolgens overtuigd om gezamenlijk een traject uit te voeren.´

´SpendLab is de aangewezen partij als je snel efficiencyverbetering wil realiseren. Het bureau is met name sterk in integrale procesoptimalisaties vanuit inkoopperspectief ’. Hands-on, pragmatisch, een hoog kwaliteitsbesef, snel en organisatiesensitief, typeren de cultuur en werkwijze van SpendLab. Een bureau dat precies past bij ons soort bedrijf.´

´SpendLab is een no-nonsense bedrijf dat een tikkeltje eigenzinnig is. SpendLab heeft waargemaakt wat werd beloofd: een sterke verbetering van de performance van haar klant. Binnen ons bedrijf is het bewustzijn gegroeid dat je door goed in te kopen je kosten sterk kunt verlagen en dus je rendement kunt verhogen. SpendLab heeft ons de kracht van inkoop laten zien!´

SpendLab is toegankelijk, denkt met de klant mee en levert goede kwaliteit.

Betrouwbaar en met toegevoegde waarde.

What is in it for your organization?

The benefits

Identification and recovery of undue payments

Correction and recovery of incorrectly processed VAT

Advanced risk detection based on more than 450 algorithms

Full insight into all outgoing cash flows

24/7 access to your own Client Portal

Accounts Payable Recovery Audit

What is an accounts payable recovery audit?

Do you recognize the following?

The challenge

We identify the following

The risks

Some examples

11 risks that influence the purchase-to-pay process

End-to-end solution

What is in it for your organization?

The benefits

Wondering what we can do for your organization?

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Eindhoven & Amsterdam

USA

Miami

Belgium

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Eindhoven & Amsterdam

USA

Miami

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