Spend Recovery – BravoSolution webinar today!

BravoSolution are running a webinar TODAY at 1pm to talk about spend recovery audits. It will be of  interest to public sector folk in particular as the audits can be accessed via Bravo’s agreement with the Government Procurement Service.

These audits look through your accounts payable data and identify duplicate payments and the like. My personal experience of such audits is that they are a real easy win for procurement – well worth considering. If they don’t find anything, then fine, you know your processes are robust. If they do, then you get some money back!

Here’s what Bravo say about the topic :

 “Analysis by the Cabinet Office shows that if all government departments, agencies and non-departmental public bodies undertake these (Spend Recovery) audits we will be able to recover £100 million. So by December 2013 everyone will have to do this. It’s low risk, with high potential rewards.” Francis Maude, Minister of the Cabinet Office, Feb 2012

FACT: Duplicate payments happen. Even some of the most complex and sophisticated finance functions in the world, with strict and well resourced control processes, make erroneous duplicate payments.

A Spend Recovery audit provides a mechanism to help organisations recover such overpayments.

You can register here – free of course.

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