Why choose an Auditrax review over those done by other A/P audit firms? Quite simply – The Human Factor
Our professional recovery auditors are experienced in identifying a variety of overpayment errors. Through forensic analysis and foremost auditing techniques, we provide a more accurate review of procure-to-pay transactions than the vast majority of other firms, at highly competitive, contingency-based rates.
The A/P audit industry has gravitated toward a “hands off” remote statement review for its customers, which typically yields a quick, but less than maximal, recovery without major effort. While we use the statement review as part of our complete process, those claims historically lead to only 15% of Auditrax recoveries. The remaining 85% come from the on-site, hands-on procedures, and broader scope that constitutes our Procure-to-Pay Audit Package.
So what are the crucial differences between a general A/P audit and our Procure-to-Pay audit? Among them, reviews of over 20 areas to ensure all overpayments are identified, a comprehensive analysis of the electronic data download, and a “box audit” (or individual e-invoice audit) which yields far more information than the electronic analysis alone. Taken as a whole, it’s not hard to see how our process often yields 5-10 times the average recovered revenue compared with that of other firms.