AUDITMAX® analyzes your data with such intelligence it sharpens the effectiveness of your audit. With increased effectiveness comes increased recoveries. In fact, AUDITMAX has helped us quickly identify and recover overpayments in a myriad of categories including duplicate/erroneous payments, pricing errors, cash/volume, discounts, freight, sales tax errors, and unclaimed property.
AUDITMAX allows us to merge multiple sets of data both internal (payment history, masterfile, purchasing, etc.) and external (P-Card, 3rd party freight payments, etc.) and develop a set of audit tools our audit teams use to identify lost funds. The audit tool also allows our audit teams the ability to create ad-hoc audit reports based on what they encounter in a particular audit.
Using this software, auditors are also able to compare a client’s vendor masterfile to our internal database containing vendors whose practices and invoicing methods have resulted in past claims. AUDITMAX is also used to assist in cleaning a client’s vendor masterfile for duplicate or questionable entries. The scrubbed masterfile is then used in our Vendor Statement Review.
Thousands of audits in a wide range of industries have not only provided us with veteran experience, but also a detailed database of problem vendors. Special attention is given to vendors that are flagged as part of this analysis.