Freelandt Caldwell Reilly LLP

Cost Recovery

Jul 17, 2013
AS BUSINESSES AND ORGANIZATIONS GROW, THEY BECOME MORE COMPLEX AND AMIDST THIS COMPLEXITY EXIST SEVERAL SYSTEMS TO ASSIST IN THE ADMINISTRATION OF A COMPANY’S WORKING CAPITAL. BUT WHAT HAPPENS WHEN THE SYSTEMS IMPLEMENTED BY MANAGEMENT ARE NOT 100% ACCURATE OR EFFICIENT?
 
Industry averages suggest that companies loose 0.1% or more of their total spending as a result of accumulated inaccuracies and oversights within their transactional systems.
 
For many of our clients, the most significant occurrence of these losses is attributable to inconsistencies in accounts payable and the disbursement of payments. Small inaccuracies in invoice posting and payment add up over time and eventually represent significant amounts of lost profit.
 
To improve these processes, FCR has partnered with ITC Recovery to provide organizations with cost recovery services. ITC works with companies to identify inefficiencies in transactional systems and provides comprehensive and thorough cost recovery analysis of purchasing and accounts payable systems to identify recovery and savings opportunities.
 
Recovery analysis focuses on the following categories:
 
 Duplicate payment analysis  Pricing error analysis
 Cash and volume discounts and rebates     Financial statement analysis
 Credits on returned goods  Equipment lease analysis
 Return policy analysis  Contract compliance analysis 

Source: http://fcrca.com/services_items/cost-recovery/