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Duplicate Payment Audit

Every large organisation makes duplicate payments to suppliers. Sometimes these are discovered by your finance team. Sometimes (but not very often) your suppliers will return the funds of their own accord. Usually they remain undiscovered and are eventually lost to the supplier in question.

Caatalyst use state of the art in-house forensic software (DATAmine ™) to scan a copy of your historic transaction data to highlight potential duplicate payments and other overpayments (e.g., paid credit notes and incorrect currency disbursements). We usually go back at least 3 or 4 years depending on the availability of reliable data.

Our software produces an extensive suite of reports for our experienced team to focus on. The original reports may contain many thousands of items and it is up to our auditors to determine which items are likely recoveries and should be followed up.

Once we have produced a list of potential overpayments we visit your finance office to double check our findings and gather corroborating evidence where possible (e.g., copy invoices and remittance advices). Caatalyst keep onsite time to a minimum and we pull all relevant documentation ourselves once we have been familiarised with your archive system.

We then have a final list of very likely duplicate payments which we proceed to recover from the relevant suppliers. This work is carried out at our own offices.

Unlike some of our competitors we never send your data to 3rd parties for analysis.

We can merge data from different group accounts payable systems and general ledger/cashbook systems to examine possible recoveries across group companies and organisations.

Caatalyst often work in conjunction with internal audit departments, conducting a double-check on the investigations they may have made in this area. As with all of our Reviews, we ensure that there is minimal disruption to your day-to-day business and accounting activities.