Duplicate payments are a threat to the profits of big businesses

The larger a business grows, the more significant a role its accounts payable audit department will have. A certain percentage of invoice payments, estimated by Fiscal Technologies to be between 0.5 per cent and 0.1 per cent, are, in fact, duplicate payments. Of course, it is very difficult to say exactly how much of a loss this constitutes for the company, since each invoice payment is for a certain amount. So, if you are lucky, a duplicate might occur for a small payment, or if you are not so lucky, a much larger payment will be duplicated. But, statistically speaking, it likely that 0.1 per cent of invoice expenditure will be copied unnecessarily. Recovery audit software is a way of recuperating the losses incurred by these duplications.

How do duplicate payments occur? Well, there is a multitude of ways in which this problem may arise. Commonly it stems from human error that consequently affects either the supplier’s or the in-house data entry system. Generally speaking, an invoice entry will require around twelve different fields to be filled in by a member of a data entry team, such as an invoice number, a quantity of supplies, a supplier number, a date, and a purchase order number.

The cost of recovery can be surprisingly high; independent recovery auditors may charge a huge commission – often in the region of fifty per cent – of the payments that they successfully recover for you. And that, of course, does not account for those that they fail to identify. With recovery audit software your accounts payable team can run audits daily, or weekly, in order to maximise your chances of paying no more than the right amounts.

A solution to this problem is increasingly urgent in uncertain, and challenging, economic times. Why? It is not only – or primarily – because the pressure increases on your own business to ‘do more with less’, as they say, and to cut waste and leakage from your expenditure. This is, of course, true, though, and the longer an organisation goes without an effective recovery solution, the older duplicate payments become, and the costlier it becomes to recover them. The main reason for the urgency is the range of factors in the economic climate that cannot be controlled. Again, the longer a payment goes unrecovered, the greater the risk becomes that suppliers relevant to the payments may go out of business. accounts payable audit teams are advised to make use of recovery audit software to safeguard companies against these specific dangers.

Please click http://www.fiscaltechnologies.com/ for further information about this topic.

http://www.fiscaltechnologies.com/

The challenge of finding hotel jobs Gulf

Having worked in the hospitality trade for a number of years, when I was looking at moving to Asia to support my husband’s career, I was concerned about whether I would be able to find employment in local hotels as I had been accustomed to doing at home.  I decided the best way to look for opportunities might be to conduct a variety of internet searches based on where I was likely to be living.  My husband’s job was likely to be moving him to Dubai or Singapore or somewhere in the Persian Gulf, so I tried looking for the search terms  ‘hotel jobs dubai’, ‘hospitality jobs singapore’ and ‘hotel jobs gulf’, and fortunately found a website called www.asiacaterer.com, which provided me with vacancies in the area.

There are so many different hospitality jobs that I had to think about whether I wanted to work in a slightly different workplace from the traditional English hotels that had always employed me in the past.  The Asian hospitality industry offered possibilities in large hotels, resorts, casino hotels and more.  I had been a deputy hotel manager for a number of years, and I also had to consider whether it might be the right time to try a different role.  I thought about taking a role with less pressure, such as a front desk clerk, or moving into a specific part of the industry, and perhaps becoming a hotel restaurant manager.  Scanning the results of my hotel jobs gulf search, I began to think that as moving to a new continent might be a rather stressful and challenging, it probably would be a good idea to go for a hotel job which was rather less demanding, perhaps as a restaurant manager.  This would mean that I was less likely to have to work antisocial hours, as there aren’t too many hotel restaurants that remain open throughout the night, when as an on duty manager I would have to be present.

Having earmarked a number of vacancies before the move, I was in a good position to start contacting hotels about the jobs I was interested in very soon after I arrived in Singapore.  I was invited for six interviews and managed to receive job offers for two of the roles I applied for, which I was really pleased about.

I would definitely advise anybody else who was relocating to have a look for hotel jobs dubai or hospitality jobs Singapore as I did, and make sure you scope out potential roles before you move.  There are so many hotel jobs Gulf that it certainly makes a difference if you can familiarise yourself with the potential opportunities while you are still on home turf.

Please click http://www.asiacaterer.com/ for further information about this topic.

http://www.asiacaterer.com/