Eagle Associates recovery service is a comprehensive, state of the art manual and computerized review of your firm’s AP and purchasing operations. Our thorough and comprehensive review provides management with an effective way to recapture overpayments that slip through the cracks.

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Reasons for errors (PDF)        Frequently Asked Questions (PDF)

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Typical breakdown of claims identified by Eagle Associates based on information compiled from completed audits

In the world of Accounts Payable, millions, even billions of dollars are lost each year. Why? Because industry processes so many invoices each day to thousands of vendors, the impact of a .1% error margin is substantial.

It’s estimated that for every billion dollars of payables there can be a million dollars in overpayments. Even for accounts payable managers who have implemented the strongest controls, changing business conditions and these high volumes mean that 100% payment accuracy is not achievable.

That’s where we come in. We understand how lost profits occur. Whether it’s human error, computer error, vendor error, contract noncompliance or simple miscommunication, we’ll find the sources so lost profits are recovered and returned to the bottom line.

Our service provides a detailed analysis of your system designed to meet the specific requirements and characteristics of your institution’s operations. A highly trained systems analyst and auditor will be assigned to your project to lead the analysis. We run standard checks and comparisons that allow us to identify discrepancies that are commonly found in the audit process. We also develop and perform additional analysis on the data specifically tailored to your sites operations which allows us to analyze virtually every aspect of your operation. We review the accuracy of your invoice to purchase order processing and contracts.

This allows us to determine if invoice terms are being matched to purchase order terms/contract terms and paid accurately. Reviews are performed on discounts, duplicate payments, freight, insurance charges, overpayments, pricing discrepancies between invoices and purchase orders and/or invoices and contracts, receiving discrepancies, tax, missed credits, unapplied cash and other funds due.

At the conclusion of each audit engagement, we submit a thorough management report listing our observations, highlighting the causes of overpayments, providing recommendations to prevent them in the future, and outlining suggestions for improving the overall systems procedures, control and efficiency. Our objective is a long term partnership with each client.