Significant direct cost savings and controls through thorough audit & validation of invoices by the experts
Assurance services and technology capability that goes beyond regular ERP and finance processes
Managing multiple supplier invoices is time consuming, difficult, often manual or poorly managed by today’s ERP systems. One thing is certainly true – it’s an important thing for companies to do properly, but generally not a good use of our customers’ precious time.
Clients often don’t check their supplier invoices to a standard that identifies ongoing discrepancies, differences, pricing errors, services not requisitioned and other audit and compliance problems. Infoactiv has the systems, expertise and bandwidth to assist customers with this important validation activity.
In our experience clients can save between 5-15% on their bills through the adoption of this type of ancillary service. It is cost effective, easy to activate (no integration needed), cloud based and produces great results, not just for validation of bills and savings but important analysis, modelling, data management and reporting.
Ford is a great example of a company that has saved several million dollars through successful credit claims from supplier invoice discrepancies simply through the Assurance service we provide. Ford flagged ‘Premium Freight’ as an area of concern, with costs increasing and an inability to properly account for, allocate and control its use.
By validating their logistics suppliers and providing the resources and expertise, we have caught charges that would have been paid through standard financial processing methods.
Our next step was to change the process of committing cost and engaging vendors for services, with automation and controls that aligned with Sarbanes-Oxley obligations of the company. We enhanced this area by designing, implementing and managing an online freight requisition portal for all non-standard, premium freight, without the need for any IT integration (designed and live within 6 weeks). This system controls the request, approval and allocation of service requests for all premium logistics expenditure. They are also able to better allocate cost centre budget expenditure and usage patterns, manage chain of responsibility concerns and proof of service delivery.
Freight is one example only! – any services procured by your organisation can be validated through this service. We ensure you get charged the right amount, each time, with relevant checks, evidence and process discipline.
It pays to improve your assurance processes and has direct bottom line benefits.
Save significant dollars (direct savings on expenditure)
Improved supplier relationships
Chain of responsibility and closed loop audit processes via independent and industry savvy auditor
Cloud technology – no integration required!