Global 1000: Manufacturing & Retail
Helping Organizations Do More
In today’s business climate many organizations are trying to streamline and reorganize, which often puts a strain on the Accounts Payable staff and processes. It comes as no surprise that Global 1000 companies are at even greater risk of AP errors because of their sheer volume of transactions. Overpayments and missed discounts are common mistakes leading to unnecessary expenses. Business Strategy, Inc. (BSI) provides consulting services and technology tools to optimize our clients’ payment and procurement process to help our clients do more with less. BSI has increased performance and profitability for hundreds of clients across the country by providing profit enhancements, cost savings, and process efficiencies.
Our procure to pay risk assessment approach ensures a complete review of the procurement process. Our communication process throughout the assessment provides immediate feedback and suggestions for process improvements, as well as a comprehensive end-of-job Management Report that includes a best practice and internal controls tool kit. Through our Image Retrieval and Information System (IRIS) our clients have 24-hour a day access to their claim information. IRIS provides instant access to the most current information on claims, supporting documentation, pertinent correspondence, supplier responses, and realized economic benefit.
What We Recover
We identify recovery in several areas of the procure to pay cycle including, but not limited to, pricing, returned product, duplicate payment, escheatment, and cash discounts. Our clients look to us for experience with identifying contract and pricing issues and dealing with suppliers. Using our exclusive Four Way Match™ process, including contract compliance methodology, we recover 52% more dollars than our competitors - adding benefit direct to your bottom line.
Our Unique Strategy
Every client is unique. Each audit is unique. And Business Strategy is unique. Our level of service, our approach, and our philosophy are different from that of other recovery audit firms. When we follow another firm’s audit, our clients are surprised at the level of procedural detail we learn, the new issues that had not been examined in the past, and the value that we deliver.
We conduct a detailed Discovery to ensure comprehension of the transactional flow from procurement through payment. Our seamless data acquisition process, with extracts for traditional ERP systems, allows us to quickly acquire necessary data for the audit. Our customized audit plan is developed by incorporating information learned in Discovery with our industry knowledge. This audit plan provides the road map for our review and an audit tool to provide weekly status updates. Our structured approach requires only limited interaction from our clients, typically 30 minutes per week to communicate status and review claims. IRIS, our online claim administration tool, gives clients real time access to claims and customized reporting.
Combining our industry knowledge and detailed audit plan with the industry’s only 100% accounts payable certified audit teams, we ensure our clients receive the best possible results every time. Upon audit completion, BSI provides a Management Report that details our findings and provides recommendations to improve procure to pay processes and prevent future losses.