5 Reasons Why a Recovery Audit Should Be at the Top of Your To-Do List — Illumis Global recovery audit services and business intelligence in finance

Five Reasons Why a Recovery Audit Should Be at the Top of Your To-Do List

In a year of transition, uncertainty, and change, the security of your accounts payable can’t be left up to chance. There’s never been a more necessary time to audit.

 

Be Proactive, Effective, and Return Profits.

 

1) Time is Money

While projects, initiatives, and implementations are getting postponed, a recovery audit shouldn’t. It can identify errors in supplier invoices while ensuring controls are working or identify where they may not be working as designed due to the work-from-home conditions. Recovery audits can be performed with a team of specialized professionals with little investment on the client side. 

 

2) Increase Profitability

Every bit of profit counts right now. A recovery audit brings surprising returns while helping your operations identify every potential opportunity for gains while reducing risks of lost profits. Find ‘hidden treasure’ in your accounts and make sure nothing is left behind. 

We refer to funds left at the supplier level as ‘hidden treasure’ because that is essentially what we’re looking at: credits and profits that are buried but worth unearthing. These funds may have been moved to suspended accounts, paid under different vendor ID’s, or could be in the form of rebates and discounts taken. 

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Tony Brush

President / CEO

Working for Illumis for 21 years, Brush has been instrumental in the growth of the company. Brush served as Vice President at Illumis before stepping into the role of President / CEO and has been involved in all aspects of the company’s business throughout his career.

 

Brush’s approach to his role centers on the motto of Illumis, Bright Ideas for Better Profits. Known for his loyalty, team building, and tough but fair expectations, he empowers employees to deliver, therefore fostering a company culture that ensures customers can count on people.