Service Solutions

Accounts Payable Solutions - BKD’s Four-step Approach

Phase One:  Inceptive Analysis

Together we meet with your MIS contact, eliciting system data and downloading select information to BKD’s proprietary ProfitrapTM software. Vendor contracts and agreements are studied. Offsite testing identifies potential duplicate payments, pricing overcharges and other remittances inconsistent with vendor contracts.

Phase Two:  On-site Review

We meet with your accounts payable staff and purchasing director, confirming departmental policies. Select hard copy and imaged records are reviewed to verify potential overpayments identified in phase one. You are apprised of our findings, and approved credit memos/claims for refund are presented for input to your accounts payable system. Finally, you receive critical improvement recommendations, if applicable.

Phase Three:  Recovery

Final analysis of unresolved discrepancies arising from Phase Two is conducted. We prepare vendor correspondence for your approval. Claims are documented and submitted—BKD’s subsequent vendor communications resolve later inquiries.

Phase Four:  Management Reporting

You receive BKD’s report summarizing how overpayments occurred, along with specific suggestions involving accounts payable policies and procedures.

During all phases of the review process, your team’s time, along with maintaining positive vendor relationships is a top priority.

For More Information

Contact your BKD advisor or: