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Balance Reconciliation

Identify differences between (outstanding) balances and unknown balances with suppliers, recover missed profits and prevent future risks within the financial records with our balance reconciliation investigation. 

Do you recognize the following?

The challenge

Balance reconciliation – also known as statement reconciliation – with suppliers is often done manually, is inefficient and time-consuming. With limited technological resources and a large numbers of suppliers, balance reconciliation with suppliers is often neglected and only performed on a handful of suppliers or done reactively when an account is in dispute.

What's going to help

End-to-end solution

Requesting statements is a labor-intensive, but essential part of our comprehensive audit process. SpendLab has developed a data-driven approach that identifies risks in your financial systems and corrects discrepancies between (outstanding) balances and unknown balances.

We take a strategic approach ensuring that a thorough and detailed review is performed in order to maximize profit recovery and identify system weaknesses. During the balance reconciliation, we solicit statements from a client agreed-upon list of suppliers, following up with unresponsive vendors to ensure compliance with our request. We do this in a highly professional manner, respecting the vendor relationship, involving now more than 250,000 suppliers.

We analyze differences between (outstanding) items and recover them for you within the accounts payable recovery audit. All statements are reviewed for open credits, allowing us to recover all available funds and expose risk patterns that could lead to additional recoveries. SpendLab also reviews each missed credit to determine the root cause analysis and provide recommendations to improve internal processes and reduce future profit leakage.

What is in it for your organization?

The benefits

Full insights into all open items

Insights into – and recovery of unknown balances

Improvement of supplier management

Results

Facts & Figures

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Successful projects
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in Customer Satisfaction
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Suppliers approached

Wondering what we can do for your organization?

Sign up for a demo?

Find out all about our services

Schedule a meeting

By submitting the details below, you are requesting a meeting. In this meeting, you will learn how an accounts payable recovery audit ensures that you gain full insight and control over all outgoing cash flows.

We always try to contact you within the next 24 hours.

Find out all about our services

Request a demo

By submitting the details below, you are requesting a meeting. In this meeting, you will learn how an accounts payable recovery audit ensures that you gain full insight and control over all outgoing cash flows.

We always try to contact you within the next 24 hours.

Kom alles te weten

Plan een gesprek in

Door onderstaande gegevens aan te leveren vraagt u een gesprek aan. In dit gesprek komt u alles te weten over hoe een accounts payable recovery audit ervoor zorgt dat u volledig inzicht én controle krijgt over alle uitgaande geldstromen.

Wij zullen uiterlijk binnen 24 uur contact met u opnemen.