Meet Frank. He works in finance for a large retail chain that conducts recovery audits once a year. Around March of the following year he sends transaction data to his recovery audit firm for the prior year. The audit firm processes his data sometime in May. Sixteen months later, auditors finish generating claims that are submitted back to vendors. And guess what, vendors are not too happy about receiving such old claims.
Now a major vendor is pressuring a merchant at Frank’s company to throw out a big claim. The merchant’s in an awkward position because forgiving the claim would appease the vendor but annoy his own finance department, whose money he’s essentially giving away. Because the year is already closed, the recovery doesn’t go to the merchant’s margin; meanwhile the vendor is telling him that the claim may reduce this year’s promotional funds. So Frank decides to get it right sooner with RecoverNow™ from ATG, a recovery audit program that finds and corrects payment errors closer to the transaction than any other.
His first year using RecoverNow, Frank receives a windfall of two year’s recovery. And thereafter, ATG’s pioneering web applications continue to find, validate and recover amounts owing on a recurring monthly basis instead of annually or semi annually. Before, it was difficult and often impossible for Frank to recover old claims from funded vendors. Now that ATG is detecting and correcting errors sooner, he’s boosting recovery for his company by as much as thirty percent. He has also eliminated the possibility of claims being traded away as part of current negotiations.
Frank’s recovered overpayments improve use of cash, while merchants can improve margin by using RecoverNow’s™ re-purposed data for fact-based negotiating. Without old claims to tussle over, both numbers AND relationships improve all around.
How much will YOU gain when you stop overpaying and start getting it right sooner?
Contact ATG for a free consultation, today.