Our Mission is to empower our customers by expanding their digital horizon
One automated solution for Procurement, Finance and Audit
Profit Recovery as a financial best practice serves to reduce clients’ erroneous payments, improve payment processes, and enhance fiscal performance. However, without a clean vendor master and proper vendor verification the problems add up fast and profits start disappearing. We are here to help! We start at the top of the funnel ensuring your vendor master is clean, verified and up to date! Using industry proven algorithms we discover, validate, and get approvals to recover all the money owed to you while giving 100% transparency ensuring all parties have a top notch experience.
We seek out and help accounts payable departments with errors such as:
High Transaction Volumes
Master data inaccuracies
Vendor Coding Errors
9 STEPS PROCESS
The XPRO Recovery process is completed in 9 steps, keeping you and your team in the loop with zero to very limited time or resource allocation. We designed our system to do the majority of the heavy lifting to take as little effort from you as possible to ensure minimal disruption to your already full schedule.
Our team collaborates with you to obtain your vendor and payment data. We provide scripts and data schemes for most ERP systems to gather your Vendor and AP data sets.
ONBOARDING & VERIFICATION: THE FEATURES
We take the hassle out of vendor onboarding with our vendor management portal. Ask the questions you need to make decisions without the manual, messy paper process. End to end we make managing vendors easy and error free.
No more manual third party checks that consume time and resource. We validate contact information, tax information, insurance certifications, credentials, banking information and diversity information to ensure that the vendor is worthy of your business.
During our post audit review we recover the millions of dollars each year that companies have erroneously paid to suppliers, vendors, and providers. These types of improper payments are endemic to most organizations and can range from .1% to .5% of expenditures
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Every statement. Every communication. Every document. Every approval. Nothing less.
No waiting or asking for updates. Every notation, document, and answer is at your finger tips whenever you need them.
You know where everything stands, at every point through the entire process.
ROOT CAUSE ANALYSIS
We focus on the 'why' because in the end it's what's most important to your controls.
PROFIT RECOVERY OVERVIEW:
Profit Recovery, once known as 'post-audit', is the systematic process of reviewing disbursement transactions and the related supporting data to identify and recover various overpayments to suppliers. Profit Recovery as a financial best practice serves to reduce clients' erroneous payments, improve payment processes, and enhance fiscal performance.
Recovery review involves recouping millions of dollars each year that companies have erroneously paid to suppliers, vendors, and providers. These types of improper payments are endemic to most organizations and can range from .1% to as much as .3% of expenditures.
Daily challenges facing accounts payable departments include such pitfalls as:
• High transaction volumes
• Multiple systems
• Master data inaccuracies
• Product returns
• Keying errors
• Vendor Coding Errors
As a result, costly transactional errors occur such as duplicate payments to suppliers. Our goal is to identify overpayments and open credits from each vendor's accounts receivable statement ledger using our cloud-based profit recovery platform. Once identified, our platform manages the workflow process to validate, approve, and recover overpayments ensuring a transparent relational experience to bring those dollars back to your bottom line without creating conflict with your vendors.