Process- and technology-driven

Transparent specializes in Accounts Payable Analysis services. Since the company’s creation, we
have focused on developing sophisticated technology and optimizing our processes.


Technology

          

Process
  • Our proprietary data-mining software incorporates the expertise that we have accumulated regarding potential irregularities in outgoing payments. The software searches payment data, applying over 25 different criteria to pinpoint working capital which may have drained away.
     
  • The subsequent process steps require a great deal of manual analysis and verification, as software is in principle incapable of delivering clear results and proof. These process steps match seamlessly with each other thanks to our proprietary suite of software tools, ensuring that 100% of the ERP data is surveyed in detail.
     
  • The results of our analyses are stored in a central database, on which an engine with middleware operates which uncovers information and processes it for our clients. This enables real-time monitoring of the process, the presentation of data and results in all kinds of analysis reports and multifaceted benchmarking. This is a unique proposition in the financial services market.
  
  • Our Accounts Payable Analysis process is fully industry-tailored and standardized. It has been divided into several incremental steps. One team is responsible for the perfect implementation of each step. The aforementioned software tools guarantee full, efficient and effective implementation. Each team supervises only its own process step, whereby quality is guaranteed as the software indicates precisely when a task has been completed.
     
  • As an Accounts Payable Analysis involves identifying rare anomalies, various guarantee mechanisms need to be built into the process. One is the “six eyes principle", according to which the manual processing of data is conducted by three analysts, who work independently of each other.
     
  • The process is designed in such a way that clients don’t have to do a thing.



Transparent: the data-mining company

Our central database, in which the results of all previous analyses are stored, enables us to compose extensive analysis reports and use them to conduct in-depth studies of where accounts payable processes can be improved.

We employ experts in ERP systems and accounts payable processes. They draw up analysis reports and translate them into practical and usable recommendations, tailor-made for our clients.


Here are five tips for optimizing your working capital.
  • Be careful what you enter into your system. A quotation is not an invoice! Make sure
    that you enter the VAT correctly, because that represents 19 percent of the invoice
    value.
  • Companies can often reclaim foreign VAT.
  • Does a supplier offer a payment discount? If so, pay the invoice on time and take
    advantage of that discount!
  • Ensure that the invoices and your bank book entries match correctly. Never enter a total
    sum for a number of invoices together and make sure you pay invoices individually. This
    enables you to check payments easily and reduces the risk of duplicate payments.
  • Be careful about entering invoice copies! Invoice copies are a major source of duplicate
    payments.