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Recovery Audit Solutions

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Focus Area: Purchase to Pay
Publication Date: 08/01/2013

Introduction

PayStream Advisors is developing a market discovery report for accounts payable, internal audit and accounting managers who are seeking information regarding post payment audit, continuous monitoring and protection against duplicate, overpayment, and other payment errors in accounts payable. In the past ten years, technology and automation have enabled a new way to approach recovery audit.

To identify the highest percentage of anomalies and recover the most dollars, it is necessary to investigate both a company’s internal AP data and processes, as well as its suppliers’ AR data and processes.

Audience

Accounts payable managers, internal audit, finance managers, shared services managers, supply chain, vice presidents of finance, chief financial officers, and information technology directors at companies who understand the basic concepts and opportunities around recovery audit and continuous monitoring and are interested in evaluating software and services.  The report is targeted toward individuals who require detailed provider and service information in order to identify and select appropriate software and or service providers.  The report will assume the reader is formulating a strategy for the elimination of overpayments, duplicate payments, and uncollected discounts as well as recover funds that have already been wrongfully disbursed.

Objective

The primary objective of this report is to provide an industry overview and business case for recovery audit solutions (RAS) as well as provide information on 3-5 leading providers.  This report will focus on how technology has created a paradigm shift in the recovery audit space.  Traditional AP recovery audit firms lack the technology that is required to effectively communicate with the mass volumes of suppliers for AR data. An automated, scalable process allows companies to tap into more recovery dollars.

PayStream’s library is a valued source of vendor information for thousands of finance and procurement professionals who are seeking information on technology and service solutions to support their auditing efforts. This report will provide a unique opportunity for solution providers to present their capabilities and points of competitive differentiation.

Report Distribution

PayStream Advisors will market the report through both proprietary and third party channels.  After a press release, which will be distributed to the PayStream database of over 50,000 finance and procurement professionals, the report will be promoted through our website via a complementary download, trade conferences, and speaking appearances.  PayStream Advisors will also host webinars during Q2 and Q3 2012 to promote the report.  These instructional seminars will assist finance and procurement managers in the education process and will include an overview of the benefits of RAS, as well as several case studies of recovery solutions and services in use at domestic corporations.

Report Scope

PayStream Advisors actively researches the financial operations industry to remain abreast of the latest developments, and provides enterprise managers with the information needed to make informed decisions about solutions and strategies such as RAS.  Our industry reports reflect our analysts’ unbiased view of recovery audit innovations, trends and best practices.  Our reports also deliver insights on the providers who are shaping the industry.

PayStream Advisors believes market expansion opportunities for RAS are attractive for commercial and other segments not presently conducting recovery audits or using disbursement audit software.  This report will be aimed at buyers, and examine why they should consider recovery audit solutions and services to improve disbursement controls at their organizations.  For those companies that are familiar with RAS, we believe there is a strong opportunity for many of them to continue their migration from a recovery approach to a preventative or controls framework.  The approaches can be supported by both RAS, risk mitigation consulting, and technology solutions.

Report Sponsorship

Please contact Mark Colwell at 704-405-5983 for sponsorship opportunities.