PCMG - Professional Cost Management Group Ltd

 

The ever growing complexity of the Telecom and Utility markets means that significant overcharges are now commonplace. As costs continue to rise well above the rate of inflation, so there is a growing need to safeguard profits by identifying and recovering overpayments and driving ongoing costs out wherever possible. This is where we excel: every year, we help our customers to realise millions of pounds in savings and refunds. PCMG offers you the ability to take advantage of our expertise on a risk-free basis. Our initial recovery services have no up-front costs – all fees are performance related, so any payment we receive is generated entirely out of the savings that we help you to secure. Your refunds can then drop straight to your bottom-line and/or can be used to generate significant ongoing savings with our Optimisation services.

Accounts PayableBack

Corporate Governance and robust internal control are critical to the success of any organisation. Businesses continue to invest in technology, people and often external consultants to help drive compliance.

In our experience, 99.9% of payable and receivable transactions are processed accurately – that 0.1% is lost profit. Individually, these errors may be small, collectively they can add up to many millions of pounds.

Recovery Audit
Even today’s sophisticated payables and receivables systems do not identify every payment error we see. Whether it is multiple entry invoicing, credit notes not applied, payments in foreign currency or simply to the wrong supplier our Accounts Payable Recovery Audit is a methodical process of reviewing all your disbursement transactions. Utilising proprietary software and highly experienced audit teams some of the common payment errors we identify include:
 

  • Duplicate Payments

  • Payments to Wrong Suppliers

  • VAT Treated Incorrectly

  • Foreign Currency Payments

  • Missed Discounts and Allowances

  • Credits Not Applied

  • Credits Paid As Invoices

  • Incorrect Unit Pricing

  • Temorary Staff Costs 
     

We also determine why these errors occurred and provide recommendations for our clients to reduce these going forward. Often this can be simply removing duplicate entries from the Vendor Master File through to a wide-ranging review of the entire procure-to-pay process.

Click here to download the PCMG Accounts Payable Services Overview data sheet.

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