Author: Aanchal Raisinghani

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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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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