1. Why should I have TA review our accounts payable invoices?

2. Why can't we do our own review?

3. What does it cost?

4. What about supplier problems that are already known?

5. What about the confidentiality of our records?

6. How much of my staffs time will be tied up by this review?

7. How much money do we recover?

8. How long does a typical review take?

 

1. Why should I have TA review our accounts payable invoices?

Most of the companies we speak to think this way, at least until the first progress meeting. Ask your accounts payable manager or supervisor if their staff have ever uncovered a duplicate payment, or had a supplier return an overpayment. Our experience has shown these examples to be just the tip of the iceberg. We are specialists in identifying and recovering these funds.



2. Why can't we do our own review?

Usually such reviews have already been carried out by your AP manager, internal audit department, and external auditors. You could of course repeat the exercise, but that would be both expensive and unproductive, as it would only realistically be able to test sample transactions. Additionally your staff would be taken away from current responsibilities. Transaction Analysts have developed powerful data analysis tools that enable us to quickly examine every single transaction passing through your accounts payable ledgers, irrespective of the size of your company. Overpayments are consistently discovered and recovered, so your profits and cash flows improve.



3. What does it cost?

Transaction Analysts works on a contingency fee basis. We will only receive a percentage of the claims we actually collect on your behalf. There is no retainer, no out-of-pocket expenses, no hidden fees.
If Transaction Analysts does not recover any money for your company - you owe nothing! NO WIN, NO FEE. Additionally, we only invoice you AFTER you have banked the money that we recover.



4. What about supplier problems that are already known?

Every company from time to time experiences supplier problems, or encounters delicate relationships. Transaction Analysts work on the principle that your supplier relationship is key to your business.
We do not contact any supplier without first obtaining your approval. If you have a valid business reason for not wanting to pursue a particular claim, we will take it off our active file. Our reviews specifically set aside time for regular meetings to address these very issues. This guarantees that you are kept informed at each stage of the recovery process.



5. What about the confidentiality of our records?

ALL data and documents provided to Transaction Analysts for our review are kept strictly confidential. We do not remove any paper documents from your premises, and ALL copies of electronic data are returned to you at the conclusion of our review.



6. How much of my staffs time will be tied up by this review?

You are probably thinking? Every time the auditors are here, all they keep doing is asking for invoices, photocopies, ledgers etc? We guarantee to keep to a minimum the disruption to your staff. We do all the work, including pulling invoices and photocopying. We encourage brief, bi-weekly meetings to keep you and your key staff members informed of the review's progress. Other staff members may be asked the occasional question for verification purposes, otherwise NONE of their time is required for our field work.



7. How much money do we recover?

- Major Contractor, systematic overcharging identified on temporary labour contract. £492,000 recovered.
- Contract pricing of data /telecoms equipment. £1.4m claimed £860,000 recovered.
- Major High Street Name £1,250,000 recovered on rating liability review.
- Media Company, IT maintenance contract rebate £62,000 recovered.
- Travel Agent, invoice paid by subsidiary and parent company £41,600 recovered.
- Fashion Retailer, incorrect posting of VAT to bought ledger £276,000 recovered from Custom & Excise.



8. How long does a typical review take?

Depending on a number of factors such as the size of the organisation, the extent of your property portfolio, volume of transactions etc. a review can take anything from 4 weeks to 6 months.