A New Model for Recovery Audit and Error Prevention
FlexTecs works in partnership with companies to deploy our powerful technology tools, domain experts, and global production support resources to maximize cash recoveries and error prevention. This is accomplished by auditing in one of two ways. First, FlexTecs may work with the internal audit department on a rolling basis within the current fiscal year, before their data is released to a post-audit firm, in an effort to maximize internal recoveries and leakage prevention. Some clients choose to utilize our flexible audit tools to fuel 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. Second, FlexTecs may perform an accelerated primary or secondary recovery audit, in order to prove the effectiveness of the tools and services and ultimately move the audit to a real or near real time frequency as an internal or external function.
Regardless of what type of audit is conducted, FlexTecs provides actionable insights into the effectiveness and efficiency of our client’s procure-to-pay process. During the course of any variation of technologies and services, FlexTecs will; 1) assess the current payment processes, 2) engage in Root Cause Analysis, and 3) conduct Leakage Assesments and Business Process and IT System Analysis. FlexTecs will design leakage control solutions for our clients, resulting in a reduction of external recovery claims and a lowering of the total cost of recovery.