Retailers Use Forensic Auditors to Claim Over £200m Each Year from Their Suppliers – 50% of Which Are Spurious.
For over 30 years Britain’s retailers have understood that mistakes do happen so have employed the services of Forensic Auditors to identify these mistakes and recover the money lost in the procure to pay cycle.
Salitix helps retail suppliers to defend against retailer claims and crucially, identify the errors in the sale to pay cycle.
The UK’s largest retailers issue claims in excess of £200m to their suppliers each year.
By the time these claims are raised (normally 2 or 3 years after the activity) the staff involved in the original negotiations either cannot recall or locate the relevant documentation, or have since left the business.
Many suppliers often pay claims erroneously as they undertake a simple ‘sense check’ and if the claim is ‘about right’ and provided they have the accruals in the balance sheet, then they settle the claims.
This is where Salitix comes in.
Our auditors can review up to the last six years of historic claims made by your retail clients – and on average can recover between 40 to 60 percent of the value settled.
The UK’s largest suppliers pay well in excess of £200m each year to their retailer customers for historic promotional activities.
When we undertake a sales audit one of our routines is to reconcile the funding paid to the stock sold to your customers. This often reveals errors that result in significant claim amounts due in the suppliers favour.
Collating, extracting and processing data is time consuming and complicated process for your staff.
This is one of the reasons why the retailers employ forensic auditors to conduct their claim reviews.
When Salitix conduct a sales audit, we work with you to identify and extract various types of data in order to ensure we have a successful outcome.
A typical review will uncover the following overcharges made by the retailers:
A sales audit is the key tool to defending audit claims and identifying unknown overpayments to the retailers that can be off-set against current claims received.
For completeness, we often conduct a purchase audit for our clients.
The area we cover are :
The UK’s largest retailers issue claims in excess of £200m to their suppliers each year.
By the time these claims are raised (normally 2 or 3 years after the activity) the staff involved in the original negotiations either cannot recall or locate the relevant documentation, or have since left the business.
Many suppliers often pay claims erroneously as they undertake a simple ‘sense check’ and if the claim is ‘about right’ and provided they have the accruals in the balance sheet, then they settle the claims.
This is where Salitix comes in.
Our auditors can review up to the last six years of historic claims made by your retail clients – and on average can recover between 40 to 60 percent of the value settled.
The UK’s largest suppliers pay well in excess of £200m each year to their retailer customers for historic promotional activities.
When we undertake a sales audit one of our routines is to reconcile the funding paid to the stock sold to your customers. This often reveals errors that result in significant claim amounts due in the suppliers favour.
Collating, extracting and processing data is time consuming and complicated process for your staff.
This is one of the reasons why the retailers employ forensic auditors to conduct their claim reviews.
When Salitix conduct a sales audit, we work with you to identify and extract various types of data in order to ensure we have a successful outcome.
A typical review will uncover the following overcharges made by the retailers:
A sales audit is the key tool to defending audit claims and identifying unknown overpayments to the retailers that can be off-set against current claims received.
For completeness, we often conduct a purchase audit for our clients.
The area we cover are :
The UK’s largest retailers issue claims in excess of £200m to their suppliers each year.
By the time these claims are raised (normally 2 or 3 years after the activity) the staff involved in the original negotiations either cannot recall or locate the relevant documentation, or have since left the business.
Many suppliers often pay claims erroneously as they undertake a simple ‘sense check’ and if the claim is ‘about right’ and provided they have the accruals in the balance sheet, then they settle the claims.
This is where Salitix comes in.
Our auditors can review up to the last six years of historic claims made by your retail clients – and on average can recover between 40 to 60 percent of the value settled.
The UK’s largest suppliers pay well in excess of £200m each year to their retailer customers for historic promotional activities.
When we undertake a sales audit one of our routines is to reconcile the funding paid to the stock sold to your customers. This often reveals errors that result in significant claim amounts due in the suppliers favour.
Collating, extracting and processing data is time consuming and complicated process for your staff.
This is one of the reasons why the retailers employ forensic auditors to conduct their claim reviews.
When Salitix conduct a sales audit, we work with you to identify and extract various types of data in order to ensure we have a successful outcome.
A typical review will uncover the following overcharges made by the retailers:
A sales audit is the key tool to defending audit claims and identifying unknown overpayments to the retailers that can be off-set against current claims received.
For completeness, we often conduct a purchase audit for our clients.
The area we cover are :
We are the experts in sales auditing and defending the Goods For Resale (GFR) audit claims you receive from Retailers.
Our management team are the experts in supplier recover audit and claim defence. We literally invented the industry.
We understand the mindset of the forensic auditors and retailers.
This means we can:
In our experience, many suppliers pay because they simply don’t have the time, skills or collated, historic data to defend them.
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Telephone: +44 (0)1554 775 599