Eliminate Duplicate Payments
Duplicate payments occur for a variety of reasons, including human keying errors, inconsistencies in the vendor master file and payments from non-original invoices such as faxes or emails. Industry surveys reveal these issues are common to any organization that processes a large number of invoices.
The good news is that you can detect duplicate payments immediately, and fix them before they become a drain on your profits.
Gold Prairie™ provides a continuous monitoring control for pinpointing duplicate payments in real time. Rather than waiting months or years for an audit to uncover these errors, you can catch duplicates during the payment process and stop them before they go out the door.
Take Full Control over your Payments
With Gold Prairie, you'll enjoy the following benefits:
- Immediate and Future Savings. Gold Prairie generates immediate savings by enabling internal staff to recover existing duplicate payments at a fraction of the cost of an outside recovery audit service. And by preventing future duplicate payments and addressing their root causes, you can rely on continued savings year after year.
- Improved Financial Controls. Although outside recovery audit firms provide a safety net for catching duplicates, they don't fix the problem. As a continuous monitoring control, Gold Prairie enables you to address the source of payment errors.
- Insights into Root Causes. Gold Prairie tracks the reasons why duplicate payments occur, helping you identify and understand their root causes.
- Increased Profitability. Gold Prairie enables your staff to prevent duplicate payments from being made. By recovering your money immediately, you'll eliminate the time-related cost of recouping lost capital. You'll also eliminate the risk of not being able to collect from inactive vendors or companies that have gone out of business.
Interested in eliminating duplicates from your organization? Please contact us and we'll be glad to provide a free demonstration and show you how Gold Prairie can to strengthen your internal controls.