Throughout our years in business, we’ve determined the key characteristics that set a great recovery audit apart from an ineffective one. Our Illumis Global analysts implement each of these components in our own process to ensure you’re seeing max returns in addition to the valuable insights your organization needs to move forward.
Before your next recovery audit, look for the following in your chosen firm:
The common practice of requesting a statement through letter or email is inefficient and ineffective more than 75% of the time. That’s the reason our analysts pick up the phone and have live discussions with your suppliers. We’ve found that real people get real results. A recovery auditing team must understand the different cultures, terminology, and nuances of a diverse supplier base to truly be effective. We don’t just speak your language, we speak your suppliers’ languages, too. (Our multilingual analysts speak 12 languages and counting!)
Before the audit, make sure the team goes the extra mile to speak to real people.
Our approach to recovery audits is simple. It’s designed for you with your goals in mind. Your organization should always feel prioritized during a recovery audit with open lines of communication between your team and the recovery auditing firm. Because we work with over 160 of the Fortune 1000, we know how important this is. It’s not just big business, it’s your business.
Look for trusted professionals that take the time to get to know you and your operations.
Claims are an essential piece of your organization’s recovery audit. Avoid working with firms that put the burden on you and your team to sort through and identify legitimate versus illegitimate claims. To save time and resources, our Illumis Global analysts identify a claim and then work with your supplier to complete the verification process bringing you claims that you can count on. We get the supplier to sign off on refunds and credits. Refunds are then processed, and credits are sent to our web portal so our clients can easily track and apply credits against future payments. All the invoices and claims from the current review can be viewed through the portal in real time so you can manage the audit right at your desk, wherever that may be.
Research how good the firm’s claims are and what kind of stress/burden that will put on your team. Work with a company with a validated and streamlined claims processing system.
Technology along with human discovery, common sense, and curiosity ensure better results than anyone thought possible. After live communication to suppliers, our team continues to dive deep using the best AI technology developed from and for our recovery audits. The tool we’ve created, Knowledge Exchange, allows us to look across all your suppliers and transactions, mapping and recording application habits, contacts, and previous recoveries.
Knowledge Exchange isn’t just a database and audit workflow tool. Built into its core is flexibility, allowing us to merge information from multiple systems to give us a concise view into and across all of your data. This ultimately allows us to uniquely analyze, compare, identify, research, communicate, and recover.
Ensure your recovery audit delivers all the insights you need to improve operations with responsive tools, cutting-edge technology, and seasoned professionals to make the results truly powerful.
There’s so much valuable information that comes from a recovery audit, but it’s hard to put it to use without the right presentations.
After an audit, you are going to want all the insights about your audit, your claims, and your AP data at your fingertips. That’s why we developed our reporting tools to provide you the flexibility to customize the reports when and how you want them. Whether an executive-level report is required or you want to drill down into the weeds, audit visibility is available by year, quarter, month, business unit, location, type, or root cause…simple to use with powerful results.
Look for customizable reporting that easily tells you what happened, when it happened, and why it happened.
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.