Recovery Auditing

/Tag:Recovery Auditing

How is Recovery Auditing Just Like Halloween?

It is that time of year again... Halloween! In just a couple weeks, millions of children between the ages of 3 and 13 (and well beyond) will be dressing up as their favorite monster or princess or who-knows-what and scouring their respective neighborhoods to maximize their candy accumulation. During my youth, my friends and I [...]

By | October 13th, 2016|Categories: Recovery Audit|Tags: , , |0 Comments

Great Blog Post on AP Now & Tomorrow

You can count on Mary Schaeffer to make complex things simple and to make simple things profound. She posted a great article on her blog this week related to Credit Memos and why so many credit memos go unrealized.  This is a nice discussion adding a little more oomph into her one-woman crusade for making the [...]

Profit Recovery & Easter?

What do Profit Recovery Firms and The Easter Bunny have in common? When I was young on Easter morning my parents used to hide plastic eggs around the house with little surprises in them. Some eggs had candy. Some eggs contained dental floss in them (I didn’t care for those eggs so much) and some [...]

Vendor Statement Audit – A Best Practice for AP Departments (Part 2 of 2)

In part one of this blog we discussed how the traditional approach to vendor statement auditing recovers only up to $100,000 per every $1B audited annual whereas a proper statement audit should recover 5-10X that amount.  In this blog I would like to discuss how and why Lavante is able to hit those much higher numbers. Lavante [...]

Vendor Statement Audit – A Best Practice for AP Departments (Part 1 of 2)

Since the beginning of the recovery audit industry, traditional firms have focused their attention on client AP data to perform recovery reviews.  Statement auditing (the practice of collecting and reviewing supplier AR records) required a different process than a client-side review.  Due to manual labor and outreach requirements, traditional firms review only a small subset [...]

Supplier statement audit can provide important insights before your next sourcing decision

With the increasing pressures on the profit margins, the efficiency of the procure-to-pay (P2P) processes has been under intense scrutiny within an enterprise.  Typically, Procurement and Finance organizations manage various aspects of P2P processes.  Thus, for a successful execution of the entire P2P process, each organization needs to understand the actions and motivations of the [...]

Recovery Auditing Misconception #4

Recovery Auditing Misconception #4:   I don't have the time or resources to support this process The Short Answer: It takes very little of your time or resources to support a Lavante recovery audit.  All you need do is send a basic vendor file and dedicate one employee for typically an hour per week. How is [...]

Recovery Auditing Misconception #3 of 4

Recovery Auditing Misconception #3:  Profit Recovery is not a current Priority and I can afford to wait. The Short Answer You may not be aware of it, but credits age and disappear over time. Once gone, they can’t be recovered. Our results show that delaying Lavante’s review could cost your company $62,500 per month for every [...]

Lavante Recovery+ Leads the Way in On-demand, Automated Recovery Processes

This blog provides an overview of Lavante's latest solution release - Lavante Recovery+ which enhances Lavante's existing recovery solution, adding greater visibility, interactivity, and connections to suppliers, giving users new controls and ability to manage the recovery process.

Lavante Expands Customers, Adds Innovations in Technology, and Experiences Revenue Growth in 2011

It’s been an incredible time at Lavante over the last year, and the excitement continues into 2012.  I covered some of the advances Lavante made last year in a short video segment, but I wanted to talk about a few other areas, namely around our technology advances and the benefits our customers say that Lavante [...]