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 quantities of data, enabling an effective audit of billings, charge-offs, and credit memos any high volume process where errors can occur. These are just a few examples. 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.
RETAIL POST-AUDIT AUDIT & RECOVERY
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 WRITE-OFFS
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, possible saving tens of thousands of dollars in excess rebate charges.
ACCOUNTS PAYABLE OVERPAYMENTS
Our technology can compare purchase orders vs. invoices vs. receiving and inspection 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.
The client’s biggest customer showed a complex reconciliation balance of $17 million due from our client. Enabled by our technology, re-applied tens of thousands of transactions representing many years activity and proved that the customer actually owed the client $4.5 million, and collected it, a swing of $21.5 Million.-