Clients are Paramount
We are focused on developing a true partnership with our clients. Every account payable audit is customized to meet your needs and maximize your results.
Dollars and Sense
Our audits are guaranteed to yield 30% more. We have two objectives – to maximize recoveries and provide valuable root cause analysis and recommendations.
Data confidentiality and privacy is a critical component of our audit process. That is why we have invested in earning the SOC-2 certification. Your data is safe.
Our international accounts payable audit experience extends across the globe. We communicate with your suppliers in their local language and business practices.
Comprehensive Audits – Valuable Results
In 1972, Broniec Associates pioneered the contingency-based accounts payable audit industry.
Our process applies a three-step approach designed to identify and recover overpayments to vendors and suppliers. The combination of our technology, a traditional audit approach of analyzing documentation, and a thorough review of vendor statements makes for the most effective and efficient audit possible. Our contingency-based audit is a no risk way of assessing your purchase-to-pay process, while recovering overpaid dollars due your organization, and receiving root cause analysis and meaningful feedback.
”“We know you are being incredibly thorough when you find overpayments as little as $50! Year after year you bring savings and add value, and do it with no risk to us. That’s why we’re having you back this year for another Broniec Audit.”MK$2B Media Company
Our goal of building long-term partnerships, has resulted in a client base that encompasses many of the world’s largest companies.
Data Entry Errors
The objective of our audit is to mitigate the risk left unaddressed by our clients’ internal controls.
Due to the inherent limitations of programmed automated controls combined with the inevitability of human error, Broniec Associates performs additional analysis to identify duplicate and erroneous payments. We design queries to detect potential duplicates that Oracle, SAP and other software systems would not have identified. For a typical audit, we create and review reports based on 25 proprietary queries. Additionally, we perform a thorough reconciliation of vendor statements to ensure a comprehensive audit and maximum recovery of funds.
Redundant Vendor Accounts
As consultants committed to improving your entire procurement to payment process, we apply more than automated scripts to identify redundant accounts.
We start by asking about your vendor setup process and the controls you have implemented to prevent duplicate accounts. Parent/child relationships? Payment block procedures? What criteria should be used to identify the record to keep and the record to block? Where they exist, we fill in the knowledge gaps. Instead of providing long lists of duplicate names and duplicate addresses, we identify and resolve issues that are contributing to overpayments, missed discounts and overlooked volume rebates.