Catalyst Circle

  • AUDIT…

    Flextecs gains insight into areas of leakage by conducting an audit in one of two ways. Flextecs augments internal recovery functions through the use of our proprietary audit tools and services, improving audit capabilities within the four walls of our client, auditing closer to the transaction and reducing the volume of claims written by external firms.  Alternatively, Flextecs also provides traditional recovery services as a post audit firm, but with the stated goal of moving the client to “Real Time” auditing in the same year as the transaction.

    AUDIT…
     
  • INSIGHT…

    The audit process allows for root cause review, leakage assessments and Business Process and IT Systems Analysis in order to develop a clear understanding of leakage control issues. All of the above leads to actionable recommendations for the client to prevent leakage in the future.

    INSIGHT…
     
  • SOLUTIONS…

    The insights developed through the course of the audit lead directly to “Solutions” in the form of: continuous real-time auditing with customized audit tools that are constantly enhanced, Business Process improvements within the Procure to Pay Process, and/or IT System “fixes”, such as a vendor portal.

    SOLUTIONS…
     

The Standard For Accounts Payable Audit Recovery Firms

As a founder of the audit recovery industry, John Cook formed Flextecs, a global Accounts Payable Audit Recovery Firm. The objective of Flextecs is to “Help Companies Help Themselves”, by improving their internal controls of disbursements across the various divisions of their organization. Flextecs achieves this by performing a recovery audit, either in collaboration with a client’s internal team that is assigned audit recovery functions or as a traditional Accounts Payable Audit Recovery Firm. Through the use of Flextecs’  proprietary audit tools, the focus is not only to recover monies where errors are found, but to also recover these dollars in the current year. When systemic or procedural weaknesses are discovered, we work to identify the root causes of those errors and help the client correct the problem and control the leakage.

 Audit Recovery | Accounts Payable Recovery Audit | Audit Recovery
Internal Audit Recovery Solutions

We help maximize internal recoveries with our proprietary audit tools and services, in real-time, before it even gets to a post audit firm.

 Audit Recovery | Accounts Payable Recovery Audit | Audit Recovery
Audit Tools

The Flextecs Audit Technology Platform is a portfolio of web-delivered tools that can be tailored to each individual client.

 Audit Recovery | Accounts Payable Recovery Audit | Audit Recovery
Scanning Services

Flextecs provides the labor force to prep, index and scan archival records, and delivers images in a hosted environment or re-integartes in to existing systems.

 Audit Recovery | Accounts Payable Recovery Audit | Audit Recovery
Our People

Flextecs specialists have unparalleled experience in the recovery audit industry and a core dedication to client service.


Flextecs solves internal issues to reduce external post audit expenditures. We provide both internal and external recovery audits. Our internal recovery audit is done in collaboration with our client’s internal team that is assigned audit recovery functions. Our external recovery audit is done in real-time to capture overpayments in the current year at an overall reduced cost of recovery.

AP Audit | Audit Recovery: 
Initial Recovery Audit 
External: Traditional Primary or Secondary Audit 
Internal: Augment Internal Recovery Audit 
Tools & Technology: Web enabled Audit tools for Internal or External use


Flextecs Provides Insight:
Complete Management Report
Leakage Assessment & Recommendations
Process & Technology Improvements
Reverse Engineering of External Claims


Flextecs Delivers Solutions:
Continuous "Real-Time" Audit on an on-going basis
Customized Audit Tools & Exception Reports
Customized Trading Modules; rebates, pricing, contracts
Business Process Improvements or IT "Fixes"


Some clients choose to utilize our audit tools to empower their internal teams that are assigned audit recovery functions, while others choose to have our experienced team of audit experts augment their internal staff to fully engage in the review. So whether our clients are looking for tools, industry expertise, or both, Flextecs has the audit recovery solution.

While the traditional recovery audit model continues to bring value in terms of cash, it fails to provide “insights” to the retail client. The existing business model is so dependent on recoveries for its income stream it is nearly impossible for a traditional audit firm to seek to find true closure of profit leakages.

We take a 5 step approach when completing an Audit Recovery

  1. Traditional Audit – Necessary to recover losses.
  2. Expand Scope – Used to share the results of the traditional audit recovery.
  3. Quick Fixes – Identify the problem.
  4. Live Auditing – A continuous process meant to find future problems closer to transaction.
  5. Business Process Improvement & Solutions – The final step allowing for a reduction in external claim expenses.
     

    Audit Recovery Solutions


    Flex100x100 3 Audit Recovery | Accounts Payable Recovery Audit | Audit RecoveryAt Flextecs we believe you should implement internal audit recovery solutions before an external audit recovery is ever completed. By doing so, organizations are able to capture money quicker at a lower cost. Internal controls allow corporations to continue with an external audit recovery team without unnecessary preventable losses. As a major player in the Accounts Payable Audit Recovery space, we bring an experienced global staff able to assist at every point during both internal audit recovery and external audit recovery.

    Document Management Solutions


    Flex100x100 6 Audit Recovery | Accounts Payable Recovery Audit | Audit RecoveryTake your documents to the cloud with low cost document management solutions from Flextecs. Easy to implement – no complicated training or IT involvement! Last year, Flextecs scanned and is currently hosting over 20 million pages of various documents including Accounts Payable, Human Resources, Payroll, Student Records, and General Financial Information.
    Flextecs Company Profile