F-200 Utility Company

Business Challenge

Duplicate and erroneous payments requiring the services of an external recovery auditor reached unacceptable volumes. A/P team overwhelmed by manual research of potential duplicates and errors. Budget constraints prohibited additions to headcount. Higher than necessary cost of both internal and external audits due to continued audit findings.

Solution

Oversight for Payables Automation of duplicate payment audit and Distribution of exceptions managed through automated workflow.

Benefits

ROI: $3 - $5 million in less than 2 months. $1.5 million increase in cash flow. 99.9% fewer payment errors. Zero audit findings in A/P in the two years following Oversight go-live.

“When we compare how much time we spent on implementing Oversight and what we can identify by using it, we believe it pays for itself in the first six weeks of every year.” - Director of Accounting Services