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ACCOUNTS PAYABLE RECOVERY AUDITS – WHAT ARE THEY AND WHY SHOULD THEY BE CONSIDERED A BEST PRACTICE?
WHAT IS AN ACCOUNTS PAYABLE RECOVERY AUDIT?
Quite simply, it is a review of your Accounts Payable historical data for the purpose of identifying and recovering funds paid to your vendors and suppliers resulting from overpayments and under-deductions.
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Accounts Payable: Benchmarking your KPIs
Do a quick litmus test on your current Accounts Payable (AP) processes: How many FTEs in Accounts Payable?How many invoices do you process per annum? This provides you with the number of invoices processed per FTE per annum.According to analysts, high performing AP departments outperform all others and process 27,097 invoices per FTE, per annum…
ACCOUNTS PAYABLE RECOVERY AUDITS – WHAT ARE THEY AND WHY SHOULD THEY BE CONSIDERED A BEST PRACTICE?
WHAT IS AN ACCOUNTS PAYABLE RECOVERY AUDIT? Quite simply, it is a review of your Accounts Payable historical data for the purpose of identifying and recovering funds paid to your vendors and suppliers resulting from overpayments and under-deductions. The reasons for these erroneous payments are numerous and areas of recovery can include duplicate or wrong…
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