Five Ways a Technology-Powered Supplier Statement Review Can Supercharge Your Audit Program
Top-performing procure-to-pay teams rely on supplier statement audits as a time-honored best practice. And they find it’s well worth the effort. According to our APEX Analytix audit experts, the typical statement review can uncover millions in credits that were never applied or refunded. How do credits get missed? Common triggers include merchandise returns and markdowns, canceled orders, rebates, and more and the potential losses can be significant. Think about the thousands of suppliers your company buys from globally, and you’ll have a feel for the potential value a supplier statement audit can deliver. That’s why many companies are adopting new technology-powered statement reviews. Read our white paper to learn more.