Invoice & AP Auditing

Would You Like Me to Save You Tens,

or Even Hundreds of Thousands of Dollars Each Year AND

Dramatically Reduce the Substantial Risk

You and Your Organization Currently Face

Related to Your Accounts Payable

By Personally Auditing Each and Every One of Your Invoices

Prior To Payment, And Doing All of That

…For a Net Gain to You?

From the Desk of 

Gold Country, California

 

Dear Fellow Business Executive,

I’ve built my business by providing high-level, personalized service to folks just like yourself. 

Periodically, I have a small opening in my schedule.  When that happens, I seek out one of the very rare executives who truly understands and appreciates the amount of money at risk of loss, or money that can be saved, through the identification of critical control weaknesses, and the design and implementation of critical Accounts Payable processes and controls, including a robust invoice auditing process.

If you’re that executive, we should talk, because every day that you aren't using these services, you are losing money.

There is no cost to you for this introductory call.  In fact, it will likely pay you dividends.

So, what do I do?

Should we decide to work together, I will personally work with you to develop and implement a plan to reduce your risk and increase your ROI related to Accounts Payable.  Specifically, I will:

  • Assess your current Accounts Payable processes and controls;

  • Develop a plan and processes for mitigating key risks; and

  • Personally audit every invoice prior to payment, to ensure you are paying only legitimate invoices, to the correct vendors, at the right time, for the right amount.

Did you know that -

  • Accounts Payable is generally at the highest risk of fraud within your organization?

  • You are likely losing thousands, tens of thousands, or even hundreds of thousands of dollars per year through your Accounts Payable department?

How confident are you that -

  • The persons reviewing / approving your invoices are conducting thorough reviews and identifying any and all irregularities?

  • Your Accounts Payable staff have the skillset to tell the difference between a legitimate invoice and a very high-quality fraudulent invoice?

  • All of the Accounts Payable key internal controls are in place and operating effectively?

  • You never pay more than is required by your vendor contract, and that you’ve never made any duplicate payments?

  • Your staff knows and understands the red flags of Accounts Payable fraud?  (I can provide you a list to get you started).

Here are just some of the items you’ll need to consider as you increase control over, and reduce your risks related to, your Accounts Payable program.  You’ll want to ensure that:

  • Accounts Payable duties are properly segregated;

  • You closely monitor the activity on your vendor accounts;

  • Your payment terms are clear and properly managed;

  • Your current processes do not contain ‘blind spots’ or weaknesses where vendors can take advantage;

  • You know how to properly identify potential and actual duplicate payments;

  • Your vendors are providing you complete and accurate documentation in addition to their invoices (for example, valid tax identification numbers);

  • Your vendors are providing you complete and accurate supporting documentation with each of their invoices;

  • Your processes and procedures are well-documented, and your team fully understands and abides by those processes;

  • Your review processes are effective and fully implemented;

  • You are properly managing your vendors, their contracts, payments agreements, and numerous other attributes; and

  • You have a highly skilled auditor (not accountant) reviewing each and every invoice prior to payment.

This is just a partial list.  And within this list, there are dozens of other items that must be addressed.  But you get the idea.

So, let’s talk a little bit more about your risks.  What are some of those risks?  Here are just a few.

  • Duplicate payments

  • Collusion

  • Conflicts of interest

  • Internal fraud

  • External fraud

  • Overpayments

  • Late or missed payments

  • Lack of audit trails

  • Unsubstantiated payments

  • Pricing errors

  • Payments prior to approved contracts

If you are that very rare executive who truly understands and appreciates the amount of money at risk of loss, or money that can be saved, through the design and implementation of critical processes, we should talk.

Here’s how it works.  Simply click on the button below and select one of the available slots on my calendar for an introductory call.  If there are no slots available, you’ll be added to the waiting list and I’ll get back to you on a first come first served basis.  If you’re having trouble accessing my calendar, please use our contact form on the contact page.

During the introductory call, I’ll get to know a little bit more about your situation and whether I think I can help.  I’ll learn about what you’ve got, what you’re doing, and what you want to achieve.

You’ll also get to know a bit more about me, and together we’ll decide if it makes sense to proceed with a meeting at your offices.

When we meet at your offices, whether or not we decide to work together, I’ll provide you with a list of key risks, controls, and related information to immediately help you manage your Accounts Payable program.

At no cost to you.

(After doing this for over 31 years, I’ve gotten fairly good at not just helping organizations solve large, long-term challenges in this area, but at quickly assessing situations and providing some immediate feedback that you can use right away).

At the end of our meeting in your offices, one of two things will happen:

  1. You will more fully appreciate and understand the risks you face and have some tools and techniques for addressing those risks but decide you can handle them on your own.
     

  2. You will more fully appreciate and understand the risks you face and ask to become my client so I can personally help you and your organization reduce your risks and increase your related ROI.

If that’s the case, I’m confident we’ll knock it out of the park.

It’s really that simple. No catch.

The worst that can happen is that you have some tools and more information to handle things on your own.  That information, if acted upon, can immediately save you money and reduce your risk.

The best that can happen is we work together to substantially reduce your risks, protect you and the organization from potential negative outcomes, and increase your ROI.

And here’s something even bigger to consider.

What does it cost?

My fee for this specific service is generally a few thousand dollars per month, depending on the scope of the project and services involved.  And that’s usually a drop in the bucket, especially when you consider all of the value that will be delivered.

 

But the reality is that this really doesn’t cost you anything.

Here’s why…

Generally, I save my clients far more money by implementing strategies, processes, and controls, than they pay me in fees. 

Just one, small example - 

When you’re paying me to audit your vendor invoices prior to payment, two things generally happen:

  1. I identify overbilling resulting in actual dollars in your pocket for which you’d otherwise be unaware, and that savings compounds over time; and
     

  2. Over time, since vendors know someone is auditing their invoices, instances of improper billing magically disappear.

As I’m sure you can see, my fees are more like an investment, than a cost – an investment that pays dividends, in both the short and long-term.

So, if you are that very rare executive who truly understands and appreciates the critical nature of the risks of outsourced services and third-party vendor relationships, let’s talk.

Simply click on the button below and select one of the available slots on my calendar.  If there are no slots available, you’ll be added to the waiting list.  If you’re having trouble accessing my calendar, please use our contact form on the contact page.

Obviously, this is an extremely limited opportunity, due to the fact that I rarely have openings in my schedule.  You see, I’m already delivering for other clients, and not only do they rarely let my services end, they are so thrilled with the results that they continue to ask me to help them in many other areas.

And if you needed one more reason to schedule a call with me, here you go.  We are a small, specialized firm by design.  It allows me to do something absolutely none of the large consulting firms can ever do – provide you with personalized service.

When you sign up with one of those other firms, you’ll likely start out by dealing with an ‘account manager’; someone with little experience in the actual services being provided.  Their job is to ‘sell’ you on the services.  Once you are ‘sold’, you may never hear from that person again.

Next, they’ll send out one or two junior staff to deliver the services.  By junior staff I mean someone with less than 10 - 15 years’ experience.  Since they lack experience, (and by experience, I mean the kind of experience you get by being in the field for over 30 years), they’ll often take a ‘template’ approach to your situation.  That is, they’ll try to make your situation fit into their template.  It may or may not.

If anyone promises you that they can deliver what you need, without actually sitting down with you and having a detailed discussion, and without the persons who will actually be doing the work, well…let’s just say that isn’t your ideal situation.

Finally, due to their overhead, their fees tend to be exorbitant.

The bottom line?  I can only work with a few clients at a time, because my clients get me personally.  As much as I might like to work with many other companies, I simply can’t.

So, if you feel like this is right for you and your organization, click on the button below and let’s talk.

Talk soon,