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Accounts Payable Advisory
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In response to shifting business dynamics, organisations are actively seeking ways to improve control over their operations and reduce costs. Finance leaders are focussed on boosting organisational profitability by enhancing cash flow management, centralising processes for efficiency gains, and addressing issues, such as invoice processing errors, duplicate payments, and vendor balance discrepancies. To strengthen governance, companies are reinforcing their first and second lines of defence, utilising maker-checker processes and concurrent audits and existing ERP controls. However, they often find that these controls require maturity enhancements to effectively prevent and address operational failures in real-time.
At Deloitte, we have a deep understanding of processes and controls for Global Capability Centres (GCCs) and shared service centres. Our experienced team, with a collective experience of over 50 years in vendor recovery audits, has helped us identify and recover over INR 100 million of vendor spending across various dimensions of accounts payable and recommends robust processes and controls to curb such levers for leakages.