Recovery Audits are designed with one goal in mind: to reduce, recover, and redeploy lost profits. Our use of technology-focused software combined with personalized refinement is what differentiates us from other solutions. By incorporating TIC’s DataShark tool into every Recovery Audit performed, clients will reap the benefits of complete transparency, quicker recovery, and access to ongoing updates.
Underlying Technology Insight’s Recovery Audit Services is a foundation of the most advanced technology in the industry, which powers our ability to work with large volumes of data from individual or multiple, disparate systems. It is this that sets us apart from other service providers, since we efficiently perform a deeper, more comprehensive analysis of your data. This means increased recoveries within a shorter time frame. Technology Insight will start to deliver returns within 30 days.
Recovery Audit Services Include:
- Identification and recovery of duplicate payments , payments to wrong vendors, and overpayments.
- Statement reviews for the identification of open credits not captured through data assessment.
- Contract compliance reviews to identify recoveries due to causes such as missed discounts, rebates, or incentives; and incorrect pricing, amongst others.
- Vendor master file analysis and detailed reporting to aid in the cleaning and management of the vendor master file, including duplicate vendor identification.
- Web-based audit management – Technology Insight presents its recovery results in an intuitive, secure, web-based portal to reduce management needs on your side.
- Detailed root cause analysis and management reporting to aid in minimizing future lost profits and process breakdown.
What Sets Us Apart
- Professionalism & Respect – Technology Insight guarantees your recovery audit will be performed with the highest degree of professionalism and respect in communications with both you and your vendors.
- A contingency fee based structure. Technology Insight is paid a percentage on the money we recover. If we do not recover anything, we do not get paid.
- Migration path to enable our customers to prevent, identify, and recover their own duplicate payments – we identify, you recover, with DataShark A/P for a flat fee, if desired.
- 100% off-site review to minimize the disruption to your staff and strain on your Accounts Payable department.
- Extraction programs for major accounts payable systems such as SAP, Oracle, PeopleSoft, and detailed extraction directions for other systems to ensure minimal use of I.T. resources.
Recovery Audit Services many be used independently or in conjunction with our DataShark A/P solution.