Spend Recovery Reviews to ease financial pressures

Twice2much discuss how Spend Recovery Reviews, based on a ‘share of recoveries’ only, can help ease current financial pressures

Many organisations have either not heard of Spend Recovery Reviews or do not consider that the recoveries and associated cash generated are likely to be applicable to them.

However, with so many financial pressures on every organisation as a result of the recent inflation, energy costs surges and the COVID pandemic, there has never been a more appropriate time to consider EVERY avenue for income generation. As the cost of a review is based on a ‘share of recoveries’ with no upfront costs and limited/no internal resource requirements, undertaking a review of this type should bear serious and urgent consideration.

Twice2much specialises in ‘Spend Recovery Services’ working with finance directors, accounts payable managers and heads of audit to provide a comprehensive review of accounts payable spend. Our recoveries made on behalf of clients to date demonstrate beyond doubt how we can help any client… suppliers; and specialist expertise in reviewing supplier transactions and identifying anomalies.

Stage 2 - Verification/validation

Expert detailed analysis of transactions at individual supplier level to validate and investigate anomalies and evidence to support initial findings.

Stage 3 – Recovery/Reporting

Twice2much provide the system, processes and resources to recover the errors found on our clients’ behalf. Flexible but targeted reporting provides significant additional benefits to clients.

Who should be considering these reviews within your organisation?

Heads of audit, heads of fraud departments, heads of finance, and heads of accounts payable or procurement are the key individuals involved in considering and procuring these types of ‘specialised’ reviews.

As ‘all’ Twice2much Spend Recovery Reviews are undertaken on a ‘share of savings’ basis, they are in effect self-financing, and therefore no budget or funding is required, limiting the need for a protracted procurement exercise.

Benefits?

Recoveries from our reviews effectively represent an ‘unbudgeted financial windfall’ which can be used to directly address budgetary pressures, enable the provision of additional services and/ or fund additional resource requirements.

There are 3 stages to a Twice2much Spend Recovery review:

Stage 1 - Identification/detection

Access to £100,000’s of technology, including ‘bespoke’ analytic software and resources; access to dedicated experienced professionals; multiple-layer interrogation of transactions with

Twice2much would be happy to provide more details or discuss how we can help you generate these benefits quickly and efficiently. L

FURTHER INFORMATION www.twice2much.com