Internal Recovery Audit Development & Support

FlexTecs develops customized solutions for our clients, designed to help them help themselves. Benefits of our solution include reduced external recoveries, at a lower cost, within a faster timeframe.

Benefits of the FlexTecs Internal Team Development and Support Delivery Model

  • Builds an organization’s internal capabilities
  • Continuous, accelerated Internal reviews, close to the transaction (pre-pay and post-pay)
  • Customized audit tools for each unique environment
  • Further acceleration driven by organization’s goals and objectives
  • Audit process on-boarding
  • Extensive training and on-going support
  • Staff augmentation with FlexTecs experts
  • Significant financial and qualitative benefits
  • Additional focus on preventing financial errors before they occur and improving payment accuracy
  • Better alignment between merchandizing, finance, and suppliers
  • 100% review of all suppliers with improved supplier transparency  
  • Time restricted suppliers reviewed within contractual limits
  • Accelerated recoveries improve cash flow with working capital uplift
  • High claim acceptance rate with reduced paybacks improve supplier relations
  • Rapid feedback with Real-Time process and IT improvement recommendations
  • Mitigation of financial discrepancies and margin loss 

FlexTecs works in partnership with companies to deploy our powerful technology, tools, domain experts, and global production support resources to maximize cash recoveries, improve margin retention, and drive error prevention. This is accomplished by engaging in one of two ways.

The first option: FlexTecs will work with the internal audit department on a rolling basis within the current fiscal year, before the data is released to an external post-audit firm, to maximize internal recoveries and error prevention. Some clients choose to utilize our flexible audit tools to fuel the work of their internal teams who are assigned audit recovery functions. Others choose to have the FlexTecs experienced team of audit experts augment their internal staff to fully engage in the review.

An alternative option: FlexTecs will perform an accelerated Primary or Secondary Recovery Audit to provide proof-of-concept related to the effectiveness of our tools and services, with the aim to move the audit to continuous, Real-Time frequency with FlexTecs operating in either an internal or external function.

Regardless of the delivery option chosen, FlexTecs provides actionable insights into the effectiveness and efficiency of our client’s Source-to-Pay process. Outcomes of our work include 

  1. An assessment of current payment processes
  2. Root cause analysis on all claims to help drive future error prevention
  3. Business process and IT system analysis
  4. Collaborative supplier relations 

 

 

 

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1395 South Marietta Parkway. Bldng 500, Suite 202 Marietta,GA 30067

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