What we do

All companies want to use their working capital to the full. You can increase the cash at your disposal by applying for bank loans or by extending your suppliers’ terms of payment. Yet there are other methods of obtaining extra working capital, such as auditing your own financial administration.

An Accounts Payable Analysis can boost your cash position and help you to increase your net earnings by as much as 1%. Past analyses have shown that up to 1‰ of the purchase value is paid to suppliers in error and often incorrectly remains in suppliers’ bank accounts. There may also be missed opportunities for reclaiming VAT.

There are numerous causes for undue payments. These may affect both your organisation and that of your suppliers. Do the following points look familiar to you?





 

 


 		  
Causes
  • Back office automation
  • Mergers, acquisitions, restructuring
  • Implementation of scanning module
  • Staff turnover
  • Understaffing of the accounts payable administration
  • Inattentiveness, time pressure of employees
  • The setting up of a Shared Service Centre
  • Outsourcing
  • Fraudulent suppliers
   Consequences
  • Duplicate and/or erroneous incoming invoices
  • Credit notes, not drawn up or drawn up incorrectly
  • Missed payment discounts
  • Contamination of supplier data
  • Payment in an incorrect currency
  • Manual rush payments
  • Not reclaimed foreign VAT
  • VAT booked as costs
  • Automatic collection and payment of invoice
  • Advanced payment and down payments of invoices

Even if you believe that your accounts payable administration is fully in order, an Accounts Payable Analysis can give surprising results. Perfection can only be achieved at astronomically high costs. However, an Accounts Payable Analysis costs nothing, and always delivers something. Would you like to find out more?