Supplier Statement Reviews
Our statement review service can be used to provide you with assurance that there are no significant invoices or credit notes due for payment or recovery which have not been either accounted for or recovered.
The Benefits
There are 3 main benefits from the review:
1. Invoices liabilities not due
We can use the Statements obtained to prove that significant invoices outstanding are no longer considered outstanding by the Supplier and therefore can be cleared, directly impacting on both profit and liability.
2. Credit notes untaken
We can confirm that Credit notes still outstanding on your ledgers remain on Supplier statements. We then request appropriate refunds from Suppliers generating an immediate Cash benefit.
3. Credit Notes never processed
We can potentially identify Credit Notes outstanding on your Suppliers' Statements that have never been received/accounted for by you. This has a direct impact on Profit and will be used to recover a Cash refund from the Supplier.
The Process
We liaise with each Client to establish the appropriate levels for review to maximise benefits whilst minimising any potential Supplier issues.
We believe this service needs to be complementary to the business, and therefore targeted statement requests can be focused on meeting additional Client requirements at the same time can provide mutual benefits.