Duplicate Payment Audit
Duplicate payments & price variances are just two of the main issues that plague accounts payable departments, which costs companies both time and money.
This issue alone can account for 1% or more of a company's annual spend. This isn't too difficult to understand when you consider most employees focus tends to be on the immediate requirements of the business. Therefore very little time is spent reviewing paid invoices and purchase contracts for closed fiscal years to determine whether monies were overpaid.
Lexona uses both in-house and industry standard software to align our search criteria to our clients' industries, accounting platforms, and data file formats. This enables us to find overpayment errors, including duplicate payments, payments to incorrect vendors, and missed discounts.
It also enables us to identify instances of potential fraud.