Why would you add one more project to a list of major operational and system changes? Sonya Winters, Associate Director, P2P of Takeda Pharmaceuticals, knew why. Recover working capital with minimal resources required.
In this presentation, Sonya and apexanalytix audit director Geoff May discuss how a recovery audit, performed in a way that minimizes disruption to the procure-to-pay organization, can add value in recovering cash and identifying ways to close those control gaps.
With two audit cycles complete, and a new global audit for Takeda beginning, the company is making sure that overpayments are recovered in a timely manner. Both Takeda and their suppliers benefit from prompt correction of overpayments, reducing the need to go back to past financial periods that have been closed, or risking that money on a supplier’s books is uncollectable due to bankruptcy, discontinuance of the relationship, or arbitrary application of credits to unapproved invoices.
Highlights of the session include:
