Download PDF by Richard B. Lanza: Cost recovery : turning your accounts payable department

By Richard B. Lanza

ISBN-10: 0470322381

ISBN-13: 9780470322383

  • Cost restoration: Turning Your debts Payable division right into a revenue Center exhibits how you can determine a company's hidden monetary assets.
  • It presents instruments to aid agencies generate funds recoveries, cease revenue leaks, circulation clear of regulate matters, and paintings in the direction of approach improvements.
  • The e-book indicates the right way to comprise revenue restoration know-how, and the way to pair a firm with a restoration specialist most suitable to the company's must in achieving final analysis results.
  • The e-book discusses how one can make the most of loose prone provided by means of expense restoration specialists, utilizing of most sensible money-saving proves advancements, and the way to create a plan to maximise improving technology.

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Sample text

January/February 2008. 4. Steven C. Rollins and Richard B. : J. Ross Publishing, 2005). 5. Ibid. 6. Ibid. 7. Ibid. 8. : Committee of Sponsoring Organizations of the Treadway Commission, 1992)6. Chapter = c02 Date: June 22, 2009 Time: 11:11 am CHAPTER 2 Overcoming Obstacles to Getting Recovery Started Overcoming Obstacles to a “No Brainer” Service Paul Simon sings the song “Something so Right” in which he simply can’t get used to something being so perfect as being in love with someone so he expects things to break down because there must be some hidden issue.

Has the vendor returned mistaken overpayments to the company? Is the vendor charging the negotiated pricing and is it consistent with the marketplace? Are vendor inventories becoming obsolete? Does the vendor provide actual goods and services to the company or is it a fraudulent billing scheme? The following reports can flush out any vendors that aren’t providing anything to the company and are, in essence, shells. ) ■ ■ ■ ■ Check blank address information. Filtering or sorting a vendor master file by address, phone number, bank account details, and tax ID can reveal shell vendors.

Cash recovery can help a department find the reason for increasing funds to themselves. For example, the author has seen how a massive savings in the accounts payable area after a recovery audit led to system improvements, more trained employees, and process enhancements. Without the upfront savings, the company is unaware of the impact and the benefit of improving operations. This can be said for many departments within the company (that is, freight, telecom, health insurance, and so on). Reason 3: Allows Internal Audit to Gain Free Control and Technology Experience Recovery audit procedures are mostly internal control reviews.

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Cost recovery : turning your accounts payable department into a profit center by Richard B. Lanza


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