Case Studies

How Capture™ Saved Over £4 Million in Payment Errors

Executive Summary

Audit Partnership’s Capture™ software has successfully helped a large organisation process over 500,000 invoices annually to prevent over £4 million in payment errors. By providing customised reporting and helping with data changes through the client’s ERP implementation, Audit Partnership enabled the client to reduce risks and optimise financial operations. This case study outlines how Audit Partnership’s expertise and Capture™ delivered clear insights and significant benefits to the organisation’s cash flow and working capital.

Objective

The primary objective was to prevent payment errors and improve the working capital of the organisation by the implementation of Audit Partnerships Capture™ Software. The client was also looking for support through the ERP system change and help improving the AP team’s knowledge of such software to ensure a more efficient use.

Audit Partnership’s Service

Audit Partnership won a competitive tender to provide its Capture™ software, a revenue leakage protection tool designed to prevent payment errors and ensure financial accuracy. This replaced the incumbent provider of similar software.
The software was customised to the organisation’s unique needs, offering customised reporting and data changes that provided greater insights into the organisation’s financial processes.
From the outset, the client commented on how much easier the software was to use, which resulted in significant time savings. Audit Partnership also provided several training sessions, which, along with the customisations, ensured the team were comfortable with the use of the software.
Midway through the contract, the organisation changed its ERP system. This change created several internal issues, including difficulties in pulling necessary data fields, which were crucial for the proper functioning of the Capture™ software.
In response, Audit Partnership’s team worked closely with the client’s IT department, providing essential support to address the ERP change. Our extensive knowledge of ERP systems and integration best practices allowed us to guide the client through the necessary adjustments, ensuring the seamless flow of data into Capture™. This collaboration not only addressed the immediate challenges but also improved the overall functionality of the reporting system.

Highlights on Capture™

£4 Million in Payment Errors Prevented: Since the implementation of Capture™, the client has successfully identified over £4 million in payment errors, which could have otherwise impacted their cash flow and working capital.
ERP Integration and Risk Reduction: The ERP change introduced significant challenges to the client’s internal operations, but with the support of Audit Partnership, the necessary adjustments were made to ensure the critical data fields were pulled and processed within CaptureTM. This was at no additional cost, as this forms part of Audit Partnership’s high level of customer service.
Customised Reporting: One of the key benefits of Capture™ was its ability to provide customised reporting. The software’s flexibility allowed the organisation to tailor data fields and reporting structures according to their needs, ensuring that financial insights were both comprehensive and actionable. This customisation led to clearer insights, enabling better decision-making and more accurate financial forecasting.
Improved Cash Flow and Working Capital: By identifying and preventing payment discrepancies, Capture™ has provided the client with a significant boost to their cash flow and working capital. The prevention of overpayments and the reduction of payment errors allowed the organisation to optimise its financial resources, enhancing its ability to reinvest and grow.

Conclusion

Through the implementation of Capture™, Audit Partnership has successfully helped a large organisation overcome significant challenges related to payment errors, ERP changes, and financial reporting. The collaborative efforts between Audit Partnership and the client have helped strengthen its financial controls and build a more robust financial system.

The financial benefits were enormous, with over a 30-times return on investment, which highlights the value that Capture provides for its users.