Recover Revenue and Profit Leakage
Smyyth Profit Recovery services can recapture millions of dollars that slip through the revenue cycle cracks. Our services include a rigorous audit, detailed research, and most importantly, recovery of the lost revenues and profits. You will receive a Management Report with root causes and improvement opportunities. Seamlessly executed, with outstanding customer service and without disruption to your operations.
Capture lost profits
Identify systemic problems costing you money
Solve chronic customer or vendor process errors
No-risk success fees.
Carixa™ forensic tools can process, analyze and evaluate massive data, enabling audit of billings, charge-offs, and credit memos, or any high volume process where errors can occur. Our multi-factor reconciliation and matching technology can handle any type of data on any scale.
Deduction Audit & Recovery
Unresolved backlogs of customer deductions, credits, and debits are a direct hit to profits and often caused by systemic operational or customer errors. We analyze, resolve and recover what would otherwise be lost profits.
Post-audit deductions initiated by third-party accounts payable auditors are frequently in error – often 50% wrong – but extremely complex and time-consuming to analyze. Our special software enables us to track and audit these claims and recover the excessive charges.
Accounts Receivable Writeoffs
Prior to deciding to write off receivables, we will audit them and, using our investigation and collection recovery teams, make sure that none are recoverable.
A pharmaceutical company issues a recall and returns are 30% higher than expected. Smyyth audited the returns and determined that $17 million did not agree with date and code parameters, and the money is recovered to the bottom line.
Distributor Volume Rebates
Wholesale or distributor rebate verification can be impossible to do manually because of the hundreds or thousands of line items involved. We have the technology to perform this function, recouping rebate overcharges.
Accounts Payable Overpayments
Our technology can compare purchase orders vs. invoices vs. receiving documents to identify price errors, quantity shortages, discounts, allowances, freight charges, etc., on a retrospective basis to recapture lost profits and identify systemic repetitive problems.
Our client’s biggest customer demanded payment of $17 million claiming years of billing and payment errors. We used our reconciliation technology to re-apply tens of thousands of transactions and proved that our client was actually owed $4.5 million, a swing of $21.5 Million.