It’s all in the Invoices…Literally

August 26th, 2015

Does your company review every invoice? Here’s why you need to!

 

Today’s post is by Alyson Usserman, Project Manager at SafeSourcing.

During my time at SafeSourcing, I have reviewed hundreds of invoices and compiled an analysis on each set. While evaluating the invoices you can see what the company charged, when they charged it, and why they charged it. All of these details are normal on an invoice; everyone needs to know where the money is going and why. However, we can also see irregularities between what should be on an invoice and what is actually on the invoice.

Typically, there are no surprises hidden within the invoices, the paper trails make up the commercial world. However, what happens when there are issues? What happens when a company is charging far more than the contract allows?

After an invoice analysis we actually compare each line item back to the contract. What is supposed to be charged versus what is actually charged? If the invoicing analysis doesn’t match the contract, then the discussion about taking it out to market begins.

Sometimes when a company has a fragmented and decentralized system they often leave themselves open to risk, including companies overcharging for a service or good. The company overcharging can also hide the hidden fees within other costs, such as labor rates. Every detail on an invoice or purchase order is worth documenting.

At SafeSourcing we work through all of the details so you don’t have to! For more information on how we can help you with your procurement needs or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.

We look forward to your comments.

 

 

 

If you thought this page is useful to your friend, use this form to send.
Friend Email
Enter your message

Leave a Reply