Global Flooring Company Case Study

Business Challenge

Internal Audit Group continually found duplicate vendors and payments. Monitoring multiple processes without technology was challenging 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 refined payment policies. 100% ROI within 4 months through prevention of duplicate payments. Root 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