Duplicate Payments

The Exponential Impact

Duplicate payments occur when a company pays the same invoice twice.  In today’s A/P environment, duplicate payments also include invoice-to-pcard, pcard-to-pcard, and invoice-to-T&E transactions as accounts payable organizations move payment to these more cost-effective, efficient methods. 

The Institute of Internal Auditors estimates an average of .1% of payments are duplicate payments.  This equates to an estimated $1,000,000 in duplicate payments for every $1B in spend.  What does this mean to your company? 

Maximize A/P’s Ability to Capture Duplicate Payments

DataShark A/P easily overcomes the limitations of your ERP system’s controls to empower your A/P department to capture duplicate payments before they are made (or perform more timely recoveries). 
DataShark A/P differentiates itself from other audit software with its unmatched refinement process to remove false positives delivering typically a 50% and higher true duplicate payment hit rate, drastically reducing your resource needs by up to 75% over that needed by typical audit software.  Because of its ability to intelligently refine the candidate list, DataShark A/P is able to run an unlimited number of algorithms against large volumes of data for the most comprehensive analysis in the marketplace. 

DataShark A/P’s Duplicate Payment Features Include:

• Refines the duplicate payment candidate list to remove false positives and deliver a 50% and higher true duplicate payment hit rate. 
• Intelligent refinement learns from your findings – duplicate or not duplicate, to further increase the true duplicate payment hit rate. 
• Uses significantly more algorithms than typical audit software for a deeper, more comprehensive dive on the data. 
• An intuitive and dynamic tracking and recovery module to enable efficient research and recovery efforts providing real-time results.
• Provides detailed root cause analysis reporting with customizable categories to quantify and address breakdowns. 
• Identifies duplicate payments across any number of disparate ERP systems.
• Captures p-card duplicate payments including invoice-to-pcard and p-card-to-pcard.
• Captures T&E duplicate payments including invoice-to-T&E and T&E-to-T&E.
• Identifies duplicate payments within any currency and across multiple currencies. 
• Updates may be taken daily, weekly, monthly, quarterly or yearly based on your needs. 

Next Steps

Read one of our Case Studies to see how other companies have benefited from DataShark A/P and download the DataShark A/P Data Sheet. 

Contact Us for more information or to arrange a demonstration.

Inquire about our Free Trial.   See first-hand how DataShark will benefit your company.