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Accounts Payable Recovery Audit

With an accounts payable recovery audit from Honkamp Krueger, you can recover overpaid funds, missed rebate opportunities and other recoveries, putting more money back into your bottom line. HK promises professional, courteous service to you and your vendors, a client-first contingency pricing program, and a hassle-free, seamless process that puts the work in our hands.


Accounts Payable Recovery Audit

What if you could recover thousands or tens of thousands of dollars for your organization using data already available to you?

If your organization is managing complex and discount-driven vendor contracts and relationships, you could be leaving money on the table through rebate programs,
buy-more-save-more opportunities and overpaid funds. The good news is, these dollars can be recovered with help from your existing accounts payable (AP) data and vendor master file through an accounts payable recovery audit with Honkamp Krueger & Co., P.C. (HK).

Through an accounts payable recovery audit, HK researches, identifies and recovers these overpaid funds or missed rebate and recovery opportunities on your behalf, putting more money back into your bottom line. Our team of professionals has vast experience assisting organizations of all sizes comb through their vendor contracts for potential incentives, rebates and pricing inconsistencies which can cost companies big in the long run. Through advanced technology, we have the ability to seamlessly integrate and analyze large volumes of data from disparate systems, allowing us to perform comprehensive accounts payable recovery audits that return more to you in a shorter period of time.

During your accounts payable recovery audit, HK considers:
  • Contract compliance – HK’s team of highly-experienced auditors will research your vendor contracts to identify any missed discounts, rebates, incorrect pricing or other incentives you could be missing out on and then help you recover those dollars.
  • Payment duplication – Your AP will be thoroughly vetted for any duplicate payments, overpayments or payments to the wrong vendors to ensure your dollars are accounted for and recovered when possible.
  • Statement credits – Through this process, HK will seek to uncover any open credits not captured through data assessments to recover any missed opportunities.
Following the audit, HK provides:
  • Vendor master file cleanup – Through an analysis of the master file, HK will use detailed reporting to identify duplicate vendors and provide a process for cleaning and maintenance of the vendor master file moving forward.
  • Web-based audit management – Our secure, web-based portal, allows you to view your results and manage your recovery opportunities anytime, anywhere. This intuitive technology gives you the data at your fingertips with technology that syncs to your AP system.
  • Root cause analysis – This detailed analysis offers opportunities for proactive management and planning to help prevent future lost profits. HK can also help you develop and negotiate favorable contracts for the future.
  • Future migration path – Following the initial audit, HK provides two options for continuing recovery efforts moving forward:
    1. HK can assist you and your AP function with establishing an internal reporting system and process to identify and recover future opportunities on your own.
    2. Through an established reporting procedure between your AP system and our program, you can securely send us your monthly reports, and we can perform the recovery process on your behalf.
You will experience:
  • Professional, courteous service
    We know good communication is the key to good vendor relationships. HK handles your recovery audit with the utmost professionalism and treats you and your vendors with the highest level of courtesy and respect.
  • Client-first contingency pricing
    We don’t get paid unless you do. This process is designed to help you recover lost funds, and HK only receives compensation for recovered opportunities.
  • Hassle-free, seamless process
    100% of your review can be done securely offsite, if desired. This allows your team and AP department to continue operations without the stress or disruption from a third-party. Additionally, through our secure extraction programs, we can seamlessly integrate with any AP system you currently use.

To get started with your accounts payable recovery audit and get on track to recovering your dollars, contact HK at 888-556-0123 or fill out our form.

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