Profit from our solutions

Recovery Audits – Disbursement Data – Accounts Payable Audits – Overview

High volumes of disbursements can give rise to a small percentage of overpayments which may remain undiscovered within the disbursement transaction history or accounts payable data.  These overpayments can arise from supplier documentation shortcomings, inputting challenges, system and personnel changes, and the quality of supplier master file data.  Over a number of years, the cumulative amount of a constant low level of overpayments can be significant.

Artesium will use its professionally qualified, experienced staff and its highly developed, exclusive proprietary software to:

  • Identify and arrange the return of these overpayments directly from the supplier by deduction, credit note, cheque or BACS

and provide:

  • Written reports on our findings, together with recommendations for improvements to your processes and controls
  • Confirmation of the accuracy of disbursements
  • Interactive analyses and actionable information on your P2P data

Disbursement data includes accounts payable data, sundry payments and procurement card expenditure.

Recovery Audits – Industry Specific Data – Overview

Artesium has extensive experience of industry specific audits and one-off reviews.  This includes the auditing of data extracted from bespoke disbursement systems and in-house applications in addition to accounts payable modules within ERP systems.

VAT Recovery Audits – Overview

Artesium’s VAT Recovery Audit reviews the disbursement history for unidentified or under-recorded input VAT.  Unidentified or under-recorded input VAT can arise from incorrect inputting, documentation shortcomings, business complexities, VAT rate complexities and other causes.  Artesium’s audits are performed using analyses of the data, reviews of documentation, prior experience of the supplier base and knowledge of the appropriate regulations.  Identified items are checked and agreed with clients and submitted through the clients’ in-house indirect taxes department.

Contract Compliance Audits – Overview

Artesium performs contract compliance audits which review your documentation and data in order to ascertain whether a wide range of suppliers have complied with the financial terms and conditions of their contracts and you have received all financial benefits due under the contracts, including tiered pricing, discounts, rebates, and allowances.

Shared Service Centre Audits – Overview

Artesium’s SSC audit teams specialise in Purchase to Pay recovery audits in multi-currency, multi-division SSC operations.

Artesium’s proprietary software has been specially designed for SSC environments in order to manage both foreign and base currency amounts, and combine and review multiple sources of data either globally or by payment route.

Artesium can also audit legacy system data for review and comparison with post-migration processes and data.

Artesium is experienced in working with SSC management and understands the importance and sensitivity of the relationship between an SSC and its customers, including subsidiaries and divisions.

Artesium can be one of your partners in SSC implementation, operation, innovation and continuous improvement.

P2P Data Analysis – Overview

P2P data analysis is delivered using Artesium’s DAART®, a dynamic, database-driven, web-based reporting tool which provides interactive analyses of your P2P information.

DAART® will provide you with an overview of your P2P data and will report on:

  • transaction and supplier volumes and amounts
  • the quality of your supplier master file data

DAART® is designed to be delivered at periodic intervals to meet your information requirements.

Other Recovery Audit Services

Artesium will proactively identify and recommend any further recovery opportunities.

Commercial Cost Management Consultancy

Artesium can assist with your Strategic Cost Management challenges, including

  • Key Supplier Management and Supplier Rationalisation Programmes
  • Spend Category Management
  • Supplier Negotiations
  • Preparation and Management of Tender Processes
  • Re-engineering of Procurement Systems and Processes