iqpc singapore 2009
Post on 21-Oct-2014
564 views
DESCRIPTION
Recovery Audit & Transaction AssuranceTRANSCRIPT
PRG Schultz Asia & PacificTransaction Assurance & Audit Recovery
ServicesIQPC Shared Services 8-9 September 2009
2
What is a Recovery Audit ?
Financial Best Practice recognized by leading companies world wide as a method for:
1. Reducing erroneous payments
2. Improving internal processes
3. Enhancing bottom-line results
3
Recovery / Transaction Audit
Methodical process of :
Reviewing disbursement txns and supporting data
Identification of overpayments
Recovery of otherwise lost profits / resources
Identification of Root Causes
Provision of Actionable Recommendations
Recovery Audit is a cost effective way to ensure Procurement and AP departments are collaborating for maximum accuracy – Business Health Check!
4
Why use an External Transaction Assurance Service provider?
Incremental Return on Assurance Investment
Incremental Cost of Assurance Investment
Your Systems, Procedures, Controls, Management and Internal
Audit get you to here.PRG finds and recovers the rest!
Degrees of Accuracy
99.5% 99.8% 99.9% 99.95% 99.999%
$$
There is a point at which degrees of accuracy becomes uneconomical… this is where organizations can leverage PRG's experience.
5
Complex Transactional Environment
Small errors can cost companies more than 1/10 of 1% of annual sales - $1M in recoveries per $1B in sales
Why Recovery Opportunities Persist?
Multiple contact points & systems
Increased business demands and limitation
on resources
IT constraints and priorities
Organizational Change
Complex Pricing Arrangements
Increased Transaction Volumes
6
Scope of a Transaction Assurance Review
PRG Schultz analyses your complete procure to pay transaction cycle.
7
Recovery through to Corrective Action Support
Our correction action support approach is comprised of a 6-step process that encompasses both our recovery audit and retail consulting offerings.
● Error Detection
● Root Cause Analysis & Insights
● High-Level Recommendations
● Solution Development
● Solution Implementation
● Continuous Monitoring
Our clients all have different priorities…as a whole all want to maximize Our clients all have different priorities…as a whole all want to maximize recoveries but not at the expense of process improvement…..recoveries but not at the expense of process improvement…..
8
Deliverables : Status & Management Reports
Status Reporting– Regular updates on audit status
Management Reports– Full breakdown of audit findings
– Recovery Audit Results
– Process Improvement Recommendations
Status Reporting and Engagement Management Report
9
Deliverables : Benchmark Analysis
Visibility into largest claims
database
Query by claim category, industry,
and audit year
Identify new recovery and process
improvement opportunities
Define Best Practice targets
Benchmarking provides insights into your business
10
Disbursement Analysis Reporting
Deliverables : Disbursement Analysis Reports
Tool used to identifies process improvement opportunities
Suite of analytical reports that provide a deeper insight into your business
These reports provide insight into:Supplier SpendCash ManagementTransaction Processing MetricsGrief Transactions Vendor Master File Maintenance
11
Electronic Fraud Analysis Report - EFAR
12
Fraud Detection & Analysis
PRG Schultz has developed the Electronic Fraud Analysis Tool (EFAR) to assist businesses in their fraud protection and identification efforts.
The EFAR is a sophisticated and in depth analysis of your accounts payable, procurement and payroll data files.
The EFAR aids in the detection of fraud by looking at conditions which are directly attributed to dishonest of fraudulent activity.
Key tests conducted by PRGS include –
Vendor & Employee AnomaliesVendor & Employee Anomalies Vendor Transaction Spikes & IncreaseVendor Transaction Spikes & Increase Non Compliant ABN & Deregistered Business EntitiesNon Compliant ABN & Deregistered Business Entities Authorisation Level AnalysisAuthorisation Level Analysis Bank Account / Address comparisons between suppliers & Bank Account / Address comparisons between suppliers &
employeesemployees
SpendGuardian
• View all contracts• Contracts Dashboard• Monitor Contract Compliance• Monitor Maverick Spend• Linked to Spend Analysis
• Supplier Benchmarking• Supplier Performance• Profiling (SME/Diversity)• Parent-Child Relationships• Supplier Fragmentation
• Duplicate Payments• Pricing Fluctuations• Identify Missed Discounts• Rebate Analysis• Fraud Reports
• Spend Visibility at transaction level• View Global Spend • Savings Analysis• Variance Analysis• Fragmentation of Spend
SPEND ANALYSIS - SpendGuardian
FRAGMENTED SPEND ANALYSIS ACROSS THE ENTERPRISE
P-CARDSLEGACY
SYSERP E-PROC
Impending Obstacles
Data is captured cleansed and categorised
•Multiple coding structures•Multiple data formats•Inconsistent/Inaccurate Data
•Corporate Reporting•Sourcing Visibility•Procurement Compliance•Supplier Relationship Mgt
Spend Data can be leveraged to provide insight into
15
Who are PRG-Schultz ?
World’s largest Transaction Assurance / Recovery Audit firm
Public Company (NASADAQ: PRGX)
30 years of industry experience
Our global experience includes industry experts, process improvement consultants, buyers and merchandisers,
Pioneers of Recovery Audit in Asia Pacific Core Service Includes:
– Recovery Auditing
– Transaction Assurance & Process Improvement
– Forensic Analysis
– Spend Analytics
16
AustraliaArgentinaBelgiumBrazilCanadaChinaChileColombiaCosta RicaCzech RepublicDenmarkFranceGermanyHong KongIrelandItalyMalaysiaMexicoNew ZealandNorwayPolandPorto RicoPortugalSingaporeSouth AfricaSpainSwedenSwitzerlandTaiwanThailandThe NetherlandsUnited KingdomUnited States
Corporate HeadquartersAtlanta, Georgia
Pacific Region Offices: Sydney, Melbourne,
Auckland
Servicing Clients across 30 Countries
Reviewed over 20 Billion Transactions
Recover Globally $5mill USD per day
Global Coverage – More Categories Across More Industries
17
Why Choose PRG?
Industry Leadership - Serve largest companies across the globe
Cutting Edge Technology – high capacity, robust security, evolving audit toolsets.
Proven Expertise – in a broad range of retail and commercial businesses
Superior Service – delivering highest level of client and vendor satisfaction
We work as part of your team providing independent transaction assurance service
We work constantly on approval – total transparency, flexible engagement
PRG earns its fee on a contingency basis – so if we make no recoveries – NO FEE