Finance (Banking)

ADR International recovers payment errors

Background

UK and USA based finance company with two central locations negotiated separate local arranges with spend in excess of £2 billion over a 4 year period. Recent changes within the organisation included a move to a centralized processing environment and systems change.

Aims

• Data analysis identified 300 duplicate payments

• Identified invoice consolidation opportunities

Project

ADR Audit deployed a full Accounts Payable Audit including a full review of major contracts for overhead spend.

ADR identified over-payments and recoveries and implemented future transaction assurance recommendations.

Results

• Recoveries in excess of £1 million

• Eliminated future over-payments and contractual errors