Although the Duplicate disbursements number and size is normally less than compliance or pricing errors this form of overpayment is generally feared by accounts payable management as the duty is on them to warrant that these errors do not occur by using recovery audit software.

How Do They Happen?

ERP or Accounting platforms should have the controls in place to highlight, track or catch duplicate payments overpayments. Yet, the likelihood of human error means none of the packages are sophisticated enough to prevent more than about 70% occurrence. The Institute of Management and Administration acknowledges that “Completely eliminating duplicate payments using recovery audit software may be an impossible dream”..

Third Party Solution
If you need to purchase a system to maintain this process, then there are a number of key features that need to be considered in order to ensure the optimum fit. These include:
-Low Cost of ownership - No costly or time consuming training or installation costs as our recovery audit software is designed intended to work straightaway.
-Operation - It can be established and run to find overpayments in under an hour. It can be used just before your payment run and prevent expensive recovery costs.
-Advanced Processing - make certain the software includes the most up to date and industry strength algorithms and pattern matching techniques.
-Increase Management- Puts you in charge of your accounts payable audit process and enables you to do this both rapidly and cost effectively.
-Prevention - The solution allows you to pre-process your upcoming payments so you should never pay a duplicate invoice again.
-Ease of Use- Anyone in your Accounts Payable group can us it and you don’t need a degree in auditing. No re-training costs required necessary.
-Improve Processes - The duplicate payment report clearly shows you the reason for the duplicate and allows you to improve your processes to prevent it happening.

FISCAL Technologies is the only company to focus only on recovery audit software detection software. We empower Accounts Payable controllers and have analysed client data from all the major financial systems and in 100% of cases we have discovered accidental duplicate payments that they were ingnorant of saved each many thousands of pounds. We offer a no expense overpayment health check and checklist to all qualifying organisations.

Please visit - www.fiscaltechnologies.com

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... paying out £50,000 or more in duplicate payments per year..How Do They Occur?ERP or Accounting systems should have the controls in place to flag, track or catch duplicate payments overpayments. Yet, the probability of human error means none of the packages are sophisticated enough to prevent more than about 65% occurrence. The Institute of Management and Administration concludes that "Completely eliminating duplicate payments using recovery audit software may be an impossible dream".. Third Party Solution If you need to purchase a system to maintain this process, then there are a number of key factors that need to be considered in order to ensure the optimum fit. These include: -Low Cost of ownership - No expensive or time consuming training or installation costs as our recovery audit software is...

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