Can you be confident that your vendors aren't being paid twice for services rendered?
It is our experience that there are very few businesses that haven't experienced this problem at least once.
Escalating pressure on staff numbers and cost cuts often result in increased risks. Most systems will identify a duplicated invoice on a common vendor if the number is consistent. But what happens if it goes to a different vendor, or additional zero's creep in?
External Auditors rarely focus on this potential problem (individual values are usually below their focus level).
That's where Resources for Profit can help. We conduct a comprehensive analysis for you, not only saving your employee's time, but delivering immediate benefits direct to your bottom line quickly, on a no risk basis.
That is, no benefit - no fee!
We do this by completing a thorough review of payments for the last three or four years, focusing on:
- Double payments
- Credits not taken up
- GST input errors
We are proven. We are trusted.
We have worked with a wide range of clients, of various sizes, across a variety of industries in order to identify potential recovery of mislaid funds:
- Working with an Entertainment client, repeating the audit process every two years; has proved much more cost effective than the company having to bring on additional staff
- Worked with a client within the Service industry to secure recoveries in the hundreds of thousands and identify improvements in processes to ensure common mistakes are not repeated
- Worked with a major brand within the Food industry to conduct a full process overview and identify opportunities for the refund of mislaid expenses
- Worked with a major brand within the I.T Industry (service and equipment) to conduct a full process overview and identify opportunities for the refund of mislaid expenses
In addition to achieving these cost savings, each client was rewarded with a more streamlined approach to their Account Payable process.
Payment errors are an inevitable business risk. Can you be sure your organisation does not duplicate vendor payments? Leave it to us. Let our team of experts work through your current processes and determine what will work best for you.
BENEFITS
Working with Resources for Profit will deliver you significant advantages and benefits:
| Features | Advantages | Benefits |
|---|---|---|
| We conduct a comprehensive audit of the costs incurred by your existing services for the past three to four years and the vendor payments associated with these services. | This enables you to develop an understanding of existing expenditure levels quickly and easily and allows for the identification of where potential problems are occurring. | Recovery of 'lost' revenue without risk. |
| Report on potential systems weakness. | One step ahead of the traditional external audit. | Opportunity to fix potential system weaknesses. |
| Comprehensive review of systems, with comparisons to market. | You are provided with an external view, based on broad market experience. | Insight into best practice. |
| There is no cost to your business (for the audit) unless recoveries are identified. | There is no profit risk to your business. This means you pay only for results! | You pay a portion of recoveries only. You are guaranteed a return on your investment. |
| Resources for Profit do the work for you. | You need not rely on your staff to check and chase. | Ensures that you are receiving the appropriate services without committing staff resources. |
