DataShark A/P Recovery Audit Software

The Challenge to Capturing Duplicate Payments

Accounts Payable relies on its ERP system, e.g. SAP, PeopleSoft, Oracle, to prevent duplicate payments from being made. These systems use key fields such as invoice #, invoice amount, vendor #, and invoice date to flag a duplicate payment. Unfortunately, these systems will not flag the transaction as a duplicate payment if the data in any of these fields (or other fields used) varies. Variations can easily happen due to issues such as data entry errors, payment to a duplicate vendor, payment to a wrong vendor, or a cross-currency duplicate. Other situations that commonly cause duplicate payments but cannot be detected by an ERP system are when a duplicate invoice is entered into a different system or when payment is made by both invoice and p-card. These errors can cause millions of dollars in lost profits each year.

Prevent and Capture Duplicate Payments

DataShark A/P will capture duplicate payments in the instances your ERP will not due to such issues as a data entry error(s), payment to a duplicate vendor, payment to a wrong vendor, cross-system entry, cross-currency entry, or an invoice-to-pcard duplicate.

Developed for mid to high volume accounts payable environments – 150,000 to millions of invoices annually, and other complex environments – multiple systems (no limit), including pcard and T&E systems, DataShark A/P sets itself apart from other recovery audit software in the marketplace by its robust, comprehensive duplicate payment identification capabilities. Further setting it apart is the delivery of a 50% and higher true duplicate payment hit rate due to Technology Insight’s unique ability to minimize the number of false positives.

With DataShark A/P, your A/P team will be able to prevent duplicate payments, where a recovery audit cannot; recover duplicate payments in a timelier manner than with a recovery audit; and perform a more comprehensive duplicate payment analysis than with standard audit software or internally developed programs. Make a greater impact to your company’s bottom line with DataShark A/P.

DataShark A/P is a highly customizable audit solution that includes:

Comprehensive, robust duplicate payment identification along with an intuitive Research and Recovery tracking module to enable your team to prevent or recover duplicate payments efficiently.
Detailed vendor master file reports that aid you in cleaning and maintaining the vendor master file.
Extensive accounts payable analysis to identify breakdown in business process, operational inefficiencies, and risk.
Fraud detection reports to identify fraudulent vendors and questionable transactions.
No hardware or software to maintain as it is a secure, web-based solution hosted by Technology Insight thereby minimizing your I.T resource needs. Updates included.
Daily, weekly, monthly, quarterly or annual updates based on your needs.

DataShark A/P can be used independently or in conjunction with our Recovery Audit Services

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.