Large enterprise accounts payable operations manage millions of payments to thousands of vendors.  Changing business conditions and these high volumes mean that 100% payment accuracy is not achievable, even for a/p managers who have implemented the strongest controls.

PRGX’s accounts payable audit service provides accounts payable management with a highly effective control to recapture overpayments that inevitability “slip through the cracks”.

• We audit payments on a historical or real-time basis to discover and recover overpayments from duplicate payments, wrong vendor payments, and missed cash discounts.
• Vendor statements are also solicited and audited for missed credits, unapplied cash and other funds due.

Contract compliance audits can be conducted where warranted.  These audits are most effective where high transaction volumes plus pricing complexities result in discrepancies between the contract terms and corresponding invoicing and payments.

For clients who want “self audit” capabilities, PRGX offers a hosted solution that enables clients to continuously monitor, identify and recover payment errors.

Our solution is straightforward.  After initial planning, client data is extracted, uploaded, and processed.  Payment exception reporting is provided online in a client-friendly interface.  Clients then validate errors, track and monitor their status online, and recover these overpayments from suppliers resulting from:

• Duplicate or erroneous payments
• Missed discounts
• Certain types of pricing errors
• VAT errors

At the conclusion of each accounts payable audit, we also provide clients with formal reporting highlighting root causes of their overpayments and recommendations to prevent them in the future, along with other key trends and insights.