2010-12-01
Large private building materials company
We helped two companies in the UK construction industry identify £1000s of payments made twice
Analysis of three years of payment data identified a significant quantity of duplicate payments.Based on recommendations, the client is looking to enhance their business processes, as they continue to recover funds.
As the Head of Internal Audit put it:
“… total amount refunded to date is just over 100k, and hopefully will continue to increase.”
Sceptical that there were any duplicate payments, analysis of the client’s 800,000 invoices over ten years of data identified 1,500 possible duplicates with a potential recovery of £7m.
Analysis of 3% of the population confirmed that £30k were duplicates. This money is in the recovery pipeline.
Wednesday, December 1, 2010
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