Having previously undertaken a spend recovery audit, this large UK Shared Service Center identified the need for a further project as part of an ongoing process improvement.
For organizations processing large volumes of invoices, conducting an external audit is best practice for recovering historic overcharges, gaining insight into processing efficiency, and uncovering other Procure-to-Pay (P2P) opportunities.
Shared Service Center requirements
Despite having recently conducted an audit with another agency, the client found it necessary to undergo a secondary audit, which needed to encompass:
- A fully outsourced service.
- A secondary audit of previously reviewed data.
- An evidenced track record of successful service provision, particularly demonstrating strong project management skills and reporting procedures, to include:
- Minimal impact on internal staff.
- Regular reporting/communication throughout the project.
- Transparent and collaborative delivery style.
How a Solution was found
Basware undertook a secondary audit which operated on a performance-related fee basis, i.e., ‘no recovery, no fee’ and focused on many core areas of the client’s current processing practices. Regular external reviews were then agreed upon to minimize risks and confirm the benchmark for processing efficiency.
