Executive Insight has been focusing on in-depth analyses of Accounts Payable systems to recover lost funds and to extend these savings into the future by providing the information necessary to prevent future losses.
We are the only AP audit firm that provides a detailed analysis of our findings together with recommendations for implementing procedural changes to help improve the efficiency and accuracy of your accounts payable system.
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I have contracted with Richard to provide AP reviews while I was at two previous companies. Richard consistently found things invoice and tax over-payments that we had missed. We received thousands of dollars back and were able to improve our performance going forward. It was well worth the time and money to invite Executive Insight to review our business activity.
Because of these results, I’ve recommended Executive Insight to other accountants and controllers. I’m sure that I’ll use Richard again in the future and I’m sure that I’ll recommend him to others as well.”
CFO, Burkhart Dental
Our process is centered on the concept of partnership, which involves communication, cooperation, and self-direction. Executive Insight provides an independent review and analysis of your accounts payable system, which allows your staff to continue working without disruption. We begin with an informative meeting in which we meet key members of your staff, answer questions, and learn about your accounts payable system.
We analyze records of closed years to identify recoverable funds, then take responsibility for negotiating the restoration of your lost profits while promoting your company’s professional image.
We work in the background, maintaining an unobtrusive profile while we follow this procedure:
- A detailed review of your closed vendor files
- Identification of potential discoveries
- Documentation of the discovery
- Verification of discovery with your vendor
- Presentation of discovery with all supporting details
- Recovery in the form of a debit memo, credit memo or vendor check
- Invoice generated for Executive Insight’s fee.
After we complete our review and regain overpaid funds, we provide you with an in-depth analysis of your system in a closing meeting. This is where the value-added components of our process are most noticeable. Although the addition of credited funds to your bottom line is beneficial, our customer have enthusiastically endorsed our closing analysis as the highlight of our process.
Our analysis focuses on the whole process, from check writing to filing to software and procedures. As a result we provide you with tools and information necessary to maintain your accounts payable system’s integrity now and in the years to come.
You can find more information here Accounts Payable Recovery Audit and in our FAQ’s or contact us.