Author: Aanchal Raisinghani

How to Improve Supplier Statement Reconciliation

Supplier statement reconciliation is crucial for businesses that maintain healthy relationships with their suppliers while ensuring proper financial reporting. Effective reconciliation allows companies to verify the accuracy of transactions, resolve discrepancies, and provide timely payments. Let’s explore the various strategies for improving supplier statement reconciliation, helping businesses achieve their processes, and enhancing overall financial efficiency. […]

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Why Claims Management Software is Needed for Businesses: 5 Considerations

Managing recovery audit claims for suppliers and approvers can be a complex process. This is where we use technology to organise and optimise supplier claims. In this blog, we will discuss “Why claims management software?” and how transparency helps with claims management and future error prevention. Key Features Claim management software automates the recovery audit […]

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What Is Revenue Leakage & How To Prevent It

What Is Revenue Leakage? Revenue leakage refers to the loss of potential earnings that a business should have collected but has not. This loss can be caused by various factors, including pricing errors, billing errors, human errors, process inefficiencies, or compliance issues. Understanding and managing revenue leakage is crucial for organisations trying to maximise their […]

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How to Communicate Recovery Audit Findings Effectively to Stakeholders

Recovery audits are an important process that helps businesses identify billing errors and revenue leakage. To maximise recovery and ensure process improvements are implemented, it is crucial to communicate recovery audit findings effectively to Stakeholders. This blog discusses how to communicate recovery audit findings effectively to various business sector Stakeholders. Understanding Recovery Audit in Detail […]

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Uncovering Hidden Profits: The Role of Revenue Leakage Audits

In the business environment, uncovering hidden profits through revenue leakage audits is vital for organisations looking to optimise their financial performance. This blog explores the role of revenue leakage audits, how it occurs, addressing these leaks, and the benefits of implementing a robust audit strategy. Key Features Definition of revenue leakage and its significance. Common […]

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What is Source-to-Pay Process? An Overview on How it Relates Recovery Audits

Nowadays, business operations companies constantly prefer a secure way to optimise their procurement processes. One essential framework that works efficiently in purchasing and supplier management is the source-to-pay (S2P) process. Understanding what the source-to-pay process entails and its relevance to recovery audits can significantly enhance a company’s operational efficiency, cost management, and supplier relationships. This […]

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Contract Compliance Audits: From Reactive To Proactive

Contract compliance audits are vital for organisations that protect their financial interests and optimise supplier relationships. Transitioning from a reactive outlook and managing compliance issues only as they arise to a proactive approach can significantly enhance the effectiveness of these audits. This blog details the importance of contract compliance audits and proactive strategies to help […]

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5 Keys Tips to Improve Operational Efficiency with Contract Compliance Audits

When we see the foundational level of the business environment, organisations are continuously seeking ways to enhance operational efficiency. One effective strategy is contract compliance audits, which ensure that agreements with suppliers and partners are linked properly. For many companies, contract management is key to combining operational efficiency and savings compliance. This blog will analyse […]

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Challenges within Accounts Payable and the Solutions: 10 Tips to Fix It

Efficient accounts payable (AP) management is crucial for any business, as it impacts cash flow, vendor relationships, and overall financial health. This blog provides 10 practical tips to optimise your AP operations and drive better business outcomes. Understanding Accounts Payable in Detail Reviewing accounts payable problems and solutions is critical to a company’s financial management. […]

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