Accounts Payable Audit Software versus Transparent Accounts Payable Analysis |
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Software suppliers regularly promise that payments made in error are detected before they occur. Is that really the case? Transparent identifies undue payments by comparing transactions which have different supplier numbers, different invoice numbers and different invoice dates. Can software do that too? |
| Property | Software | AP Audit by Transparent |
Explanation |
| Identify simple claims | V | V | Software is indeed capable of tracking down the simplest and most unambiguous errors. |
| Identify complex claims | X | V | Transparent applies over 25 search criteria. |
| Statements | X | V | Transparent has a specialist team which contacts suppliers around the world 24/7. |
| AP Dashboard | (V) | V | The Transparent Accounts Payable Analysis Dashboard offers secure, online access to client data and shows how the analysis process is progressing. |
| AP Analysis Reports | (V) | V | We know from experience which analysis reports are most valuable to our clients. We also provide client-specific explanations and recommendations. |
| Analysis of claims | X | V | We know how to interpret potential claims in the data-mining software output. No two ERP systems are the same, so whatever a software supplier may promise: software can also produce garbage. |
| Collection of claims | X | V | We have specialist teams trained to retrieve money from suppliers while maintaining good relationships with them. |
| Benchmarking | X | V | We provide benchmarks for our clients for comparing their results with their peers, users of the same ERP software, companies with similar revenues etc. |
| Real-time Benchmark | X | V | The benchmark is constantly updated. |
| Workload | Software | AP Audit byTransparent |
| Manual extraction of ERP data required | + | - |
| Installation/implementation of software required | - | + |
| Manpower for use of software | - | + |
| Manpower for interpreting potential claims | - | + |
| Manpower for collecting claims | - | + |
| Manpower for importing data/exporting analysis reports | - | + |
| No cure, no pay | - | + |
