Over the next few months we’ll describe how you can detect and recover duplicate payments to your bottom line; one of the quickest and most effective ways of recovering hard cash to your organisation.
Whilst the actual figure for the volume of duplicates will depends on many factors, it is accepted that between 0.1% and 1% of payments may be duplicated in any given organisation. Doesn’t sound like a lot? Well, what’s your average annual spend? Remember, for every £1m you’ve spent you can expect to have overpaid between £1k and £10k and it soon adds up. What’s more, you should be able to recover payments that are anything up to 6 years old. So if you’re making payments to Vendors of £1m a year, you could be looking to recover £60,000. That’s got to be worth something?
DataConsulting will serialise its Duplicate Payments analysis, explain how the analysis can be developed in ACL, and what you can expect to achieve.