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AP recovery audit

What is an Accounts Payable recovery audit?

Whether it’s overpayments, duplicate payments, incorrect sales tax or payments to the wrong suppliers - Accounts Payable mistakes happen in any organisation processing loads of invoices. These mistakes may seem small at first, but they can heavily affect an organisation's working capital and add up to substantial losses over time. Some companies still invest in AP recovery audits to recoup any overpayments and regain financial losses.

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Invoice fraud detection

Invoice fraud detection: What is it and how can you spot it?

In a time where organisations are transitioning to more digital processes, online data management and cloud-based solutions, the risk of fraud is greater than ever. UK Finance reports that over £1.2 billion was stolen from companies by criminals through fraud in 2022, with £49.5 million through invoice and mandate fraud alone. The report also highlights that 78% of company fraud cases in 2022 originated from online sources.

Read more - Invoice fraud detection: What is it and how can you spot it?

Managing your master vendor file: Everything you must know

What is master vendor management? Master vendor management is the practise of maintaining an accurate master vendor file so your business can have efficiency in their Procure-to-Pay processes and transparency in their vendor data. Good management of your master vendor file ensures your data is accurate, avoiding things like duplicate vendors, inactive vendors and fraudulent vendors.

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AP Audit

How to prepare for your year-end Accounts Payable audit

A year-end financial audit may seem like another daunting task on your to-do list, but it doesn't have to be. Beyond compliance, Accounts Payable audits help uncover financial discrepancies, enhance transparency, and build trust with stakeholders. In this post, you’ll learn about the benefits of carrying out a year-end Accounts Payable audit and the practical steps to take to ensure your audit not only goes smoothly but also acts as a valuable tool for your company.

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Three Top Accounts Payable trends in 2023 that finance teams must know about

Three Top Accounts Payable trends in 2023 that finance teams must know about

It’s that time of year again, and planning for 2023 is top of the agenda for businesses everywhere. But this time, the rules of the game have changed.

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Identifying and fixing common Accounts Payable problems in manufacturing companies: a guide for the finance team

The biggest Accounts Payable issues in manufacturing

There’s a new reality in manufacturing. And to survive it, you’ve got to treat your suppliers like gold. Driving down costs through the supply chain is no longer an option, and paying invoices on time is non-negotiable. Combined, these changes could erode your profit margins and disrupt cash flow.

Read more - The biggest Accounts Payable issues in manufacturing