AOP PodcastCompliance

195: How to Recover Cash Due to Supplier Billing Errors w/ Ben Evans

By July 30, 2018 January 4th, 2019 No Comments

The deal is done, the contract signed, and the supplier starts supplying. Then the invoices roll in. But how much time do we invest in making sure that the supplier is invoicing the right amount?

In a world of competing priorities, I am afraid to admit that I trusted my suppliers to be billing the correct amounts. Yet, mistakes happen. In fact, as today’s guest Ben Evans shared, between 40%-60% of suppliers whose invoices his firm, Auditec, review contain material billing errors. Categories with a lot of SKU’s, line items, or a high volume of transactions are particular areas of focus.

In today’s pod, Ben and I explore what a procurement professional can to do minimize the risk of overbilling and ensure compliance with contractual terms – from creating a culture of compliance with suppliers to the steps needed to reactively identify and recover cash after the billing has occurred.

Links and Resources:

Philip Ideson

About Philip Ideson

Philip founded Art of Procurement in 2015 as a way to empower procurement professionals at all levels to deliver change with confidence; whether from the inspiration of the popular weekly podcast that he hosts, or with targeted solution offerings that guide clients on their journey to transform the impact of procurement.