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?

If your company’s Profit Margin is: Every $100,000 prevented or recovered equals:
1% $10,000,000 in sales
3% $3,333,333 in sales
5% $2,000,000 in sales

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:

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.