Why the Source & Procure Cost Recovery Solution?
A traditional recovery audit is both costly and time consuming.
Source & Procure understand the impact to the client and cost implications of traditional recovery audit, which is why we have launched a unique technology based solution that will allow you to speed up the recovery process, keep costs low and most importantly give you, for the first time, control of the process.
Innovate & Automate
Source & Procure’s Accounts Payable Cost Recovery solution is a duplicate and overpayment recovery tool that allows you to make your own recoveries and much more.
Duplicate and overpayments are a fact of life. The sheer volume of transactions being processed by companies together with complex organisational structures and frequent management changes make this statement inevitable. Source & Procure can provide you with the tools and the support needed to prevent duplicates from occurring. Our service operates alongside your accounts payable teams and is both non-intrusive and low impact in terms of demands on your in house resource.
- Online Access Anywhere – collaborative working is simple from any PC connected to the Internet.
- Sophisticated Duplicate Analysis Engine – ensures that ANY potential duplicates are flagged for recovery.
- Recovery Process Tool – allows contact with suppliers, recovery process recording and recovered amounts to be updated within the system.
- Reason Why Reporting – discover why duplicates are being made, in-house keying errors, supplier invoicing errors and erradicate them.
- Recovery Process Monitoring – a snapshot of where you are with the recovery in real time.
- AP Management Reporting – analysis of Supplier invoicing volume and value reports, plus much more.
- Supplier Master Clean-up – will assist in the cleanup of your Supplier/Vendor Master file.
- Continuous Monitoring – upload your current AP data prior to payment and Source & Procure’s Cost Recovery will check for potential duplicates BEFORE you pay them.
Data Requirements
Historical Data Files
We need these in an agreed structure. Historical invoice data is typically managed for the last four years, or as agreed.
Current Data File (optional for continuous monitoring)
This has the same structure as the Invoice History File and contains data for the previous 14 months from the current date.
Data uploading
We provide a secure ftp server and a simple web interface for uploading data.
Solution Overview
Homepage
Key Duplicate Checks
Summary Details of Suspect Transactions
Transaction and Payment Systems Link with AP Database
Credit Notes Frequently Posted as Invoices
Recovery Progress Tracking through Graphic Reports
Comprehensive Management Reporting
Reason Code Analysis by Value & Number
If you have questions or need more information, don’t hesitate to contact us.
