STATEMENT REVIEWS

Traditionally high amount of emphasis has been laid on AP data to perform recovery audit. It has been the general norm to identify a small percentage of the vendor population to perform the statement review calling for the statement from the vendors. It has been generally understood that the effort involved in this process is high and the recovery arising from this exercise is not commensurate with the effort.

We have developed a robust statement review process covering the complete base of vendors.

With this deep dive process which commences with the vendor contracts to analyzing the invoices and culminating with the vendor statement, we have been able to realize and recover moneys that were hitherto not considered as due and hence not recovered. Our analytics team relies on the latest tools and techniques as well as the rich experience in this area, to uncover as well as recover moneys from these reviews. Some classical scenarios which are identified and moneys recovered are missed credits for material returned, price variance credits, unclaimed discounts and rebates, unprocessed credit memos and payments for cancelled invoice.

Head Office

# 9, 3rd & 4th floor, Yaafa Complex,
Purasawalkam High Road,
Chennai - 600007. INDIA
+91 9176089000

Corporate Office

# 185, 1st Main Rd,
Nehru Nagar, Perungudi,
Chennai, Tamil Nadu - 600096

Regional Office

Emaar The Palm Square, 11th floor,
Office no.F11-010, Golf Course Extension Road, Near Vatika Chowk,
Sector 66, Gurugram - 122101

Services

Continuous Monitoring
Profit Protection and Recovery
Internal Audit Services
Value Outsourcing

support@auditics.com