Post payment audits are a process where your accounts payables are reviewed for things like over payments, ignored discounts and missed vendor credits. Overall it is a process that will eventually get your money back, but there are a few problems with the process.
The Problems
Of course, once the horse is out of the barn, it is a lot harder to get them back in and it is also true with payments. Once you make the payment, it can be hard to get your money back, especially when the argument is for discounts or credits that your team missed. The processing time can be lengthy. You will also have to:
- Deal with the audit and dedicate time to it
- Pay for the audit services that take a bite out of any profits you realize
- Wait for months to get your money back
The fact is post payment audits are reactive which is never a good way to do business. They are structured to clean up the mess, not to prevent the mess from continuing.
How You Can Be Proactive
Once you know better, you do better. Once you realize that there was a lot of money left behind because of credits and discounts that were missed, you have to be proactive and have a solution that prevents this sort of issue moving forward. We have the solution. Our solution is a proactive solution, that is cost effective. The Belmero’s Supplier Returns-Credits Managed Service ensures that you do not miss out on any discounts or credits that you are entitled to. The savings can be tremendous. Contact us to learn more about The Belmero’s Supplier Returns-Credits Managed Service and our other services. Your business will be better for it!
