Author: Aanchal Raisinghani

Key Strategies to Minimise Supplier Friction

Business is not just about generating a good profit, but also about maintaining effective supplier relationships. If you are a large enterprise, you should be aware of supplier management, including the roles and purposes of each organisation. The challenges and disputes that occasionally arise between businesses and their suppliers can significantly disrupt operational efficiency, lead […]

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Learning Contract Renegotiation Process : Step – by – Step Guide

The term contract renegotiation helps them deal with unexpected problems and find a better deal that fits the current situation of their business relationship. If you know the basics and approach renegotiation wisely, you can boost your chances of a good result in contract renegotiation. This complete guide provides a step-by-step approach to help business […]

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How to Prepare for First Contract Compliance Audit: Key Tips & Checklists

Preparing for your first contract compliance audit can be difficult, but with the right strategies in place, the process can be smooth and efficient. However, not all contract compliance audits are the same. In this blog, you’ll find the most essential tips and checklists on how to prepare for first Contract Compliance audits effectively, ensuring […]

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Common Supplier Payment Challenges & its Solutions

Managing supplier payments is crucial for ensuring smooth operations, strong cash flow, and healthy supplier relationships. However, businesses often face various challenges that can complicate this process. From this blog, we will discover the 5 common supplier payment challenges and offer the right solutions to help organisations manage their payment processes. Key Features Understanding supplier […]

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What are Common AP Fraud Prevention and Mitigation Strategies?

Accounts Payable (AP) fraud is a significant threat to organisations of all sizes, causing financial losses and damaging supplier relationships. Analysing the various types of AP fraud and implementing effective prevention and mitigation strategies are vital steps in protecting an organisation’s financial integrity. Here, you’ll learn about some common types of AP fraud prevention and […]

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What is a Retail Merchandise Recovery Audit?

A retail merchandise recovery audit is a process where a specialist third-party recovery audit provider audits all your supplier agreements and transactions to identify billing errors and recover lost revenue. Let’s learn about what a retail merchandise recovery audit is in detail. What is a Retail Merchandise Recovery Audit? A retail merchandise audit is a […]

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Duplicate Payments Audit in Accounts Payable: Its Importance & Challenges

Duplicate payments inaccounts payable can lead to significant financial losses for businesses, impacting cash flow and overall profitability. Ensuring the accuracy and efficiency of financial transactions through Duplicate Payments Audit in Accounts Payable is a top priority. This blog delivers the importance of conducting recovery audits to identify and rectify duplicate payments Key Takeaways Duplicate […]

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Why Accounts Payable Recovery Audit Software is Essential for Business

Recovery audit software helps businesses recover money lost to Accounts Payable (AP) billing errors and duplicate payments, monitor fraudulent activity, and cleanse supplier master data to avoid future errors. It analyses past and current transactions to find revenue leakages that could be costing your business money. What is accounts payable recovery audit software? Recovery audit […]

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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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