SIM Powered Recovery Will Take Your Recovery to the Next Level!

Every
year,
corporations
are
at
risk
of
losing
significant
dollars
due
to
transactional
errors
such
as:
over
payments,
duplicate
payments,
missed
rebates,
missed
discounts,
lost
credits,
and
fraud.

The
money
is
lost
with
no
chance
to
reclaim
it
unless
a
recovery
audit
is
performed
.

Most
recovery
audit
service
providers
claim
on
their
websites
and
marketing
material
that
they
can
recover
between
$500,000
and
$1M
per
every
$1B
that
a
company
spends
on
an
annual
basis.
Even
under
the
most
conservative
estimates,
this
problem
is
costing
mid-sized
and
large
companies
millions
of
dollars
every
year.
Unfortunately,
the
recovery
audit
industry
relies
heavily
on
manual
processes
which
focus
almost
entirely
on
a
client’s
historical
transactional
records.
Manual
processes
are
time-consuming,
inconsistent,
expensive,
and
focus
too
heavily
on
client
records.
The
methodologies,
while
they
do
add
value,
leave
a
large
portion
of
the
recovery
opportunity
unexplored.

Over
the
last
several
years,
some
service
providers
have
developed
technology-enabled
recovery
processes
that
are
accurate,
complete
and
deliver
claims
in
real-time.
Even
more
recently,
some
recovery
solutions
have
seen
the
incorporation
of
a
supplier
information
management
(SIM)
application
and
have
drastically
improved
audit
results.
The
combination
of
recovery
audit
technology
and
SIM
drives
more
supplier
compliance,
significantly
out-recovers
manual
recovery
methodologies
and
improves
the
organization’s
working
capital
situation
as
a
result
of
the
recovery
process.

In addition, even
when
delivered
separately
from
any
recovery
product,
SIM
is
a
powerful
tool
that
offers
significant
benefits
to
a
financial
organization
by
driving
lower
costs,
streamlining
supplier
on-boarding,
reducing
working
capital,
improving
strategic
supplier
management
and
decreasing
payment
fraud.

To find out how SIM-Powered Recovery can improve your recovey results by a factor of 3, 5, or even 9, and maximize your return, download the latest Sourcing Innovation Illumination, sponsored by Lavante on Taking Capital Recovery to the Next Level. When you find out how you can save hundreds of thousands while recovering millions, you won’t be disappointed!

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