A post payment audit process helps to identify possible payment errors as high as 10 percent of the total annual spend. Depending on the pre payment audit process and specific spend category, a post payment audit process enable clients to recover up to 4 percent of their annual spend. Leveraging the Xalles X2X platform, we help you identify anomalies and mitigate future errors.
A well-defined financial structure serves as the foundation for well-defined processes. A post payment audit not only helps you recover overpayments, but enables you to identify the source of the errors. With accurate supplier payments, you will be better equipped to make future decisions that support and align with your business needs.
From error identification to the funds recovery process, the entire post payment audit is contingency based. Once all necessary data and supporting documentation are received and loaded into the Xalles X2X platform, Xalles will initiate the systematic post payment audits. Depending on the complexity of the payment transactions, results typically start to surface in as little as 30 days.
Xalles has a long history of working with organizations who require the most stringent security precautions to be in place. With that baseline as a starting point, our business processes and systems have security imbedded in everything we do. With a highly controlled environment, rest assured, the data you share is secure throughout the entire post payment audit process.
Xalles will start the post payment audit processes as soon as the necessary data and supporting documentation is received and loaded into the Xalles X2X platform. After Xalles initiates the systematic post payment audits, depending on the pre payment audit process and transaction complexity, results typically start to surface within 30 to 60 days. Since there is no upfront cost for the audit, the audit is self-funded. Any direct financial ROI will be immediate and indirect ROI could be substantially larger. One saves you money, the other gives you increased, repetitive operational efficiencies.
Immediate client benefits are the funds recovered which can be used elsewhere. More importantly, analyzing payment errors help identify areas to improve systems, business processes, contracts, suppliers, communications or staffing. Beyond funds recovery, Xalles helps companies make strategic decisions to improve their business processes and supplier relationships resulting in fewer errors in the future, saving time and money.
Xalles has a long history of working with organizations who require the most stringent security precautions to be in place. As such, we look at all aspects of security as cornerstones of our business. With that security baseline as a starting point, our organization, our business processes and our systems have security built into all aspects of the foundation instead of considering security as an after-the-fact, necessary requirement.
Depending on the pre payment audit process and specific spend category, a post payment audit process may identify payments made in error ranging between 5 to 10 percent of the total annual spend, and after working with suppliers, typical recovery ranges from 3 to 4 percent.
Xalles has a long history in the pre payment audit, finance and payment processing space. With over 50 years of combined experience in this market, we have hands-on business experience that goes well beyond processing post payment audits. Working with our team, we can help you:
Xalles provides payment solutions and IT services to support government, business and consumer financial transactions. We target strategic and accretive acquisitions in fintech, specifically companies with solid management teams and business models that we can help grow, succeed and capture recurring revenue streams.