Profit Recovery Audits

Increase your bottom line by recovering overpayments and underdeductions.

There are Profit Dollars belonging to you just awaiting our advisory services:

• Credit for Returned Goods (items returned without credit)
• Deposits (unrecorded down payments/unnecessary cash deposit)
• Duplicate Payments (invoice is submitted for payment twice)
• Excess Freight (freight charges on invoices are higher)
• Invoice Overcharges (invoice price billed by vendors is higher)
• Invoice Overpayments (data entry errors: invoice was for $7K, but entered as $8K)
• Missed Cash Discounts (paid invoices on time to earn price discount)
• Sales Tax Paid in Error (paying taxes on non-taxable purchases)
• Slamming & Cramming (erroneous telecommunication charges)
• Use/Fuel Tax (Federal/State Taxes charged and paid in error)
• Vendor Database Management (improving the validity and reliability)
• Revised Federal Excise Tax Laws (to be discussed)

10 reasons to choose IOMA’s Advisory Services to perform your paid invoices audit:

1. Experience and Depth
   Our consultant’s in-depth database of industry-wide exceptions is based upon over 13 years of previous experience. Industries we've worked in include automotive, healthcare, government agencies, public utilities, parts manufacturers, and more. We have auditing experience with over 7,000 suppliers.
2. Informative Final Audit Report
   IOMA consultants provide a customized final audit report that identifies internal control and vendor database weaknesses. We explain how the system weaknesses occurred and recommend courses of action to prevent exceptions from reoccurring.
3. Specialized Software to Identify Duplicate Payments, Invoice Overpayments and Overcharges
   IOMA consultants have proprietary, tested software to identify Duplicate Payments, Overpayments and Overcharges.
4. Our Thorough, Systematic Process Means More Recoveries for Your Organization
   Our tracking of repetitive findings allows us to identify additional avenues for recovery and ensures a more comprehensive audit.
5. Prior Success in Recovering P.O./Pricing Exceptions
   We have a proven record of obtaining large recoveries for erroneously processed purchase orders/invoices based upon an analysis of pre-established contract prices. We also ensure that all promotional allowances and rebates have been maximized.
6. Important: We Promote Improved Vendor Relations!!
   We understand how critical your vendor relationships are to your operations. We will never recommend a client "short-pay" a vendor without a vendor's full agreement. We want to help you avoid unresolved vendor disputes after the audit has been completed, and nurture better vendor relationships.
7. Every Audit Site Team is Supervised by a Certified Public Accountant
   We will provide ongoing communication which includes on site review and regular phone, e-mail or fax updates from the designated supervisor. Plus, we can communicate directly to your internal auditors, in their language.
8. Client Savings is our #1 Priority
   Our goal is to maximize client profitability. We do a financial review to help our clients recover and save money.