• Creating Clean Vendor Master Files the First Time

    Everybody has got a space in their life that really needs some organization. Maybe it’s the garage, where tools and boxes balance precariously against every wall, threatening to tumble down each time you scoot the car door open. Or, if you’re lucky, it’s just a junk drawer in the kitchen, bursting at the seams with […]

  • Fraud and Accounts Payable: A Real World Example

    I recently read an article about a woman who stole $57K from her former Massachusetts employer.  While the amount stolen was not millions of dollars, I think the example of HOW she stole the money will be of interest to anyone in accounts payable. This is an excerpt from the article in the UnionLeader (June […]

  • The Fear of Recovery Audits

    Recovery audits, sometimes also referred to as profit recovery engagements or even profit discovery engagements (you have to love marketing’s unique spin), have existed for over 25 years.  The purpose behind this practice is to identify and recover lost monies as a result of business process breakdowns..  These lost profits can be in the form […]

  • Is a Recovery Audit a Sarbanes-Oxley Requirement?

    This question came to my mind after hearing multiple companies state it is a Sarbanes-Oxley requirement that they perform a recovery audit every one, two, or three years. As a company that provides recovery audit services and solutions, you would think this would put a smile on my face. But many years ago I was also an […]

  • Imaging and Duplicate Payments

    We have a client who has been using SAP for many years and has recently implemented a third party imaging and workflow system.  This company was really in need of this system.  The imaging solution uses OCR (optical character recognition) to systematically pull off the invoice number, invoiced date, and amount.  I am a big […]

  • 1099 Reporting and Duplicate Payments

    I recently met with a company who had a business process failure that caused a bunch of duplicate payments. Luckily, the company had identified the issue, actually a couple of their suppliers had told them about the problem, and they were able to identify all of the duplicate payments from the failed business process. So they […]

  • Accounts Payable New Year’s Resolutions

    Happy New Year everyone! This the season to come up with New Year’s resolutions. So it got me thinking about what many accounts payable organizations are doing this coming year. One thing is for sure, there is a lot happing in accounts payable this year. See how many are on your list: Procurement Card Utilization. No accounts payable organization likes […]