Recovery Audit for Finance Professionals
Money gets lost. It’s a cost of doing business. We’re all human. Systems aren’t foolproof, errors get missed and lost money adds up.
Our experts have the tools, tech and know-how to dive into the data, recover any lost money, and help maintain your professional reputation. No money found? No fee.
“Finance professionals who are looking for savings opportunities or insights to drive process efficiencies should consider Barcanet." Gartner
(Psssst! If you've not heard of a Recovery Audit before, we'd encourage you to read this article...)
Features of our Recovery Audit service
- We do all the heavy lifting quickly, discreetly and focussed on you
- Proprietary software employs sophisticated algorithms to uncover errors
- Statement service finds unallocated cash or outstanding credits not applied
- We report system and process flaws to improve your operational efficiency
- Prevent future leakage by helping you fix issues so they don't repeat themselves
- Flexible invoicing and payments to meet your business requirements
The benefits of working with us
- Experienced, UK based audit specialists
- Expertise across multiple categories and audit types
- We work in harmony with your business - we're collaborative, reliable and discreet
- Minimise your time but remain in control
- Demonstrate the finance team is being transparent to the business
- No Win No Fee - we put our money where our mouth is
Why trust us?
There are lots of reasons. But we like to let our customers and results do the talking...
Completed projects (and counting)
Months average ROI
Savings & efficiencies obtained
Happy customers
Months average project duration
A few things our clients say about us.
The team at Barcanet are friendly, upfront and transparent. Using insights from our wide range of data sources, they spotted payment errors which has saved us lota of money. We would definitely recommend Barcanet - they get the job done without fuss.
Having heard of his past tech successes, I've recently been fortunate to work directly with Ian. Not just as a client, but a partner. He took the time to understand the business. Within six months created an action plan to drive £1m of savings and provide solutions for tighter control.
We use Barcanet to simplify our data, analyse costs and unearth insights. The Barcanet team is especially useful at collecting and manipulating together the different formats of data.
£2.6m in savings and recoveries from AP Recovery Audit
Problem
Our client, operating in 16 countries with over 1,300 stores since 1970, faced challenges with their finance department. They moved the function into head office, undertook a system change and had an over-reliance on spreadsheets. The company's CFO wanted to investigate further, but their task was complicated by systems that didn't communicate with each other and data held in silos throughout the organisation.
Solution
We have successfully implemented two phases of AP Recovery Audits, dealing with historical transactions and subsequent system migration. Moreover, we have completed two thorough supplier statement reviews across production and non-production suppliers.
Results
Our interventions led to over £2.6m in savings and recovered spend, along with the updating and cleansing of the supplier master file. Furthermore, our analysis provided the leadership team with valuable insights, such as identifying bottlenecks and areas where manual intervention were causing inefficiencies and delays in the company's processes. We continue to provide financial and operational value to this customer.
