PMB ATIC

HOW TO MAXIMIZE YOUR PROFIT RECOVERY

Avoid Duplicate Work with a Holistic Approach

Many companies perform accounts payable and sales tax recovery projects independent of each other.
With too many hands in the pot, this method can result in errors, repetitive processes, inefficiencies, and less successful results.

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    What Is An Accounts Payable Audit?

    An accounts payable audit doesn’t just reveal overpayments that you can pursue to recover; it can also be used to identify common errors so you can take proactive measures to prevent them from happening in the future. Learn More

    What Is A Sales & Use Tax Audit?

    A reverse sales and use tax audit is the process of reviewing previous years of purchase data in an effort to find erroneous sales or use tax charges or accruals. Generally, these errors are due to a misapplication of tax laws by the seller or an oversight of an exemption provided by the state. Learn More

    Why Conduct These Audits?

    The benefits of a recovery audit extend far beyond recovered profits. Your business will be able to:

    • Identify broken processes or exposure zones leading to lost funds.
    • Minimize future errors.
    • Safeguard against potential fraud.
    • Analyze purchases prior to your next audit.

    Technology-Insight

    Since 1999, Technology Insight Corporation (TIC) has provided companies with results-oriented services & solutions to effectively manage every aspect of the Purchase-to-Payment data cycle. By combining revolutionary software technologies with practical root-cause analysis, TIC brings an unprecedented level of value to their clients. We understand that millions of dollars are at stake for our clients and are committed to a distinct end result: To reduce, recover and redeploy lost profits.

    About PMBA

    PMBA is a trusted provider of specialty tax services. With over 25 years of experience, PMBA delivers exceptional and innovative services including – but not limited to – Federal and State Tax Advisory Services, Software Implementation, and Asset Recovery. PMBA’s well-rounded team of “Big 4” alumni and tax professionals are dedicated to bringing seamless solutions so businesses can rest assured that their most complex tax challenges are in good hands.

    The Benefits of Shared Services

    By combining AP & Sales Tax Recovery projects into one review, your organization can significantly increase profit yields. Below is a sample of our successful projects from the past five years.

    How It Works: TIC’s DataShark tool into every Recovery Audit performed, will help you to:

    Prevent Errors in A/P

    Detect errors earlier in the Procure-to-Pay process with Technology Insight’s DataShark tool.

    Identify Duplicate Payments

    Run hundreds of algorithms against your data, finding more errors & duplicates than with a standard software solution.

    Recover Lost Funds

    Receive aid during the collection process, allowing you to save resources and escape frustration.

    Discover Open Credits

    Our recovery audit team will retrieve your vendor statements, and analyze them to find open credits, duplicates, and other errors.

    Manage P-Card Transactions

    Ensure that P-Card transactions are up to company standards, as well as Time & Expense reports.

    Clean Vendor Master Files

    Technology Insight will clean your Vendor Master File, ensuring that all standards are met, and eliminating duplicate vendors.

    Fight Against Fraud

    We can serve as another line of defense to tackle the issues of embezzlement and other forms of accounting fraud.

    Access Reports & Metrics

    Analyze your entire company’s spend on a single platform, so you can identify any breakdowns or problem areas in your business.

    Use of PMBA’s Business Asset Recovery Tool (BART):

    Identify Sales Tax Overpayments

    Our database of over 100,000 vendors will help companies identify sales tax errors.

    Identify Use Tax Errors

    Self-accruing tax has a very high error rate, BART will uncover these errors.

    Process Improvements

    BART will identify opportunities to work with vendors to lower future errors.

    Internal Resource Tool

    The results captured in BART are available to the corporate finance team for various reporting purposes.

    Audit Defense Analytics

    The data captured by BART can be used to analyze your purchases prior to your next audit to identify potential exposure zones.

    Demonstrated Success

    AP Recovery Alone

    Client

    • Consumer Electronics Company
    • Freight & Logistics Company
    • Airline
    • Food Services Company
    • Healthcare Company

    Recoveries

    • $3 Million
    • $2 Million
    • $1.7 Million
    • $1.4 Million
    • $1 Million

    AP + Sales Tax Recovery

    Client

    • $6M Technology Manufacturer
    • $500M Fashion Retailer
    • $1B Shoe Retailer
    • $10B Dental Distribution
    • $500M Hospitality Retailer

    AP Recovery

    • $5.5 Million
    • $250K
    • $275K
    • $4.5 Million
    • $250K

    Sales Tax Recovery

    • $1.5 Million
    • $750K
    • $900K
    • $3.2 Million
    • $575K

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    Questions? Contact Us

      By entering your email address, you agree to receive more information from PMBA in accordance with our privacy policy