ACCOUNTS PAYABLE (AP) AUDIT
Identify and recover payment errors with an Accounts Payable Audit.
From duplicate payments to missed discounts and more, our Accounts Payable experts review your historical AP transactions to identify, remediate, and eliminate erroneous payments.
Organizations turn to FlexTecs when they need a partner who will…
Review historical Accounts Payable transactions to identify and address duplicate payments
Remediate incorrect or overpayments + reclaim under deductions
Conduct a complete review of vendor statements for statement credits
Implement preventative solutions to stop financial leakage at the source
What We Do
Accounts Payable Audit
Duplicate Payment Review
To help improve your operations and processes, we deliver:
Custom reports that outline erroneous payments specific to your environment.
Monthly Input Tax Reports that identify any incorrect postings and refunds.
A root cause analysis that pinpoints the origins of all errors, allowing you to prevent financial leakage at the source.
Statement Review
To ensure the accuracy of your records, our team:
Works with you to review and approve your supplier list and the terms of the statement request and letter.
Fully automates all supplier statement submissions and replies with FlexStatement, our advanced statement tool.
Sends the statement of account request to your suppliers.
Manages supplier communications to ensure compliance.
Reviews statements for open credits.
How we help businesses catch, correct, and prevent financial leakage.
Armed with extensive experience helping siloed organizations become more connected, effective, and efficient, we take a more modern, innovative approach to solving financial problems, combining a human approach with custom-built technology that is 3x faster than the industry’s standard.
Together, we’ll take your business from reactive to proactive.
Catch yesterday and today’s errors.
Identify and understand the root cause behind payment errors.
Our team helps align your suppliers and ensure compliance with agreements regarding product pricing and promotions.
Correct those errors + bring your recovery audit function up-to-date.
Accelerate your recovery audit function to real-time and recover more of what you miss.
Our tools are custom-fit to your unique environment and help you make sense of your transactional data, bridge operational gaps, and streamline the claim production process.
Build processes and technology that prevent tomorrow’s errors.
Build towards true error prevention.
A lot of recovery audit firms talk about “getting their clients to prevention” but we’re the only ones actually doing the work, leveraging the recovery audit process to custom-build technology to make prevention a reality for your business.
Catch errors before they happen with customized, flexible technology:
Immediately eliminate the issue and not allow the claim to occur in the first place
When a mistake has happened, we catch the error within payment terms (i.e. net 30)
Don’t let errors slip through the cracks.
⇨ Catch errors that your current processes or ERP system misses.
⇨ Accelerate and streamline transaction review to drive efficiency and reduce errors.
⇨ Gain visibility into your whole transaction base.
⇨ Get insight into where, why, and how typical errors occur.
⇨ Implement an effective safety net through a more proactive posture.
⇨ Drive operational insight that leads to true error prevention.
Our Promise
Every day, we’re creating, iterating, and disrupting the recovery audit industry to better serve your business.
Secure
Security is paramount to us. We’re constantly investing in the security of our systems.
Team of Experts
Get access to a dedicated team of senior-level auditors who apply their decades of experience to elevate your financial processes.
Visibility
Get real-time status updates on claims we make via our FlexTrack Claim Management Portal.
High Catch Rates
We perform regular self-audits to ensure we’re maximizing efficiency and effectiveness.
In-House Developers
We have in-house developers who are here to ensure our technology works for our clients — not against them.
Low Payback Rates
We protect your existing vendor relationships by validating claims prior to submission.
Blog
What is an Accounts Payable (AP) Audit and How to Prevent Payment Errors
Did you know that even the best ERP systems are NOT designed to detect and flag all errors?
When you’re processing high volumes of data, it’s inevitable that some of it will be inaccurate, so it’s important to evaluate your accounts payable to ensure that your records are free from human errors, data entry errors, and system errors.
Read our blog, What is Accounts Payable (AP) Audit and How to Prevent Payment Errors, to gain insight into where your recovery audit process and partner stand.