Business Challenge
Internal Audit Group continually found duplicate vendors and payments. Monitoring multiple processes without technology was challgning and ineffective. Procurement policies not applied consistently. $2 billion in annual payables processed.
Solution
Implement Oversight's Payables Solution. Automation of duplicate payment and duplicate vendor audits.
Results
New focus on refinind payment policies. 100% ROI within 4 months through prevention of duplicate payments. zroot cause insights leading to training opportunities. 450 additional duplicate vendors identified after a recent manual clean-up project. Discovery of "split" purchase orders to circumvent ERP controls.
" We saw value right away. Oversight allowed us to easily identify the root cause of issues then helped us develop and implement best practices for our transactional process." -Director, Internal Audit