 |
|
 |
|
Click here to
estimate how much money Connolly can recover for you. |
|
|
|
|
Recover More Call 800.530.1013
to learn more. |
|
|
|
|
|
|
 |
 Recovery auditing is a financial best practice recognized by leading companies worldwide as a method for reducing erroneous payments, improving processes, and enhancing performance. Even if an average of 99.9% of all transactions and payments are processed correctly, the small amount of error can quickly add up to a large amount of money. |
|
| What would it take for your organization to generate this amount of revenue? |
|
 |
|
| To directly improve the bottom line, Connolly Consulting will identify and analyze the root cause of financial inefficiencies and recommend changes to reduce future losses. All finance and accounting disclosure practices are reviewed to identify shortcomings that may lead to Sarbanes-Oxley (SOX) compliance issues. Connolly also recommends that firms regularly evaluate their recovery audit provider. As technology and practices change, audit firms must also change to provide the best services to their clients. |
|
| It’s a Fact. |
| Payment errors exist in every organization. Factors that contribute are... |
|
| Large Transaction Volumes |
|
| Complex Pricing Structures |
|
| Multiple Vendors |
|
| • |
|
vendor master file inaccuracies, inadequate controls |
|
|
|
| Business Systems |
|
| • |
|
growth (migration from legacy systems, version upgrades) |
| • |
|
multiple systems that are not fully integrated |
| • |
|
homegrown and customized systems |
| • |
|
inadequate controls |
| • |
|
limited IT support |
|
|
|
|
| Company Mergers / Acquisitions / Downsizing |
|
| Human Resources |
|
| • |
|
employee turnover |
| • |
|
insufficient training |
| • |
|
inadequate staffing levels |
|
|
|
| Process Inefficiencies |
|
| • |
|
lack of standardized procedures |
| • |
|
system limitations or not optimized |
| • |
|
communication breakdown |
| • |
|
“exception” transactions |
|
|
|
|
|
|
|
