How much profit do companies across the globe lose from inefficient, outdated or faulty recovery audit software? It’s probably more than you think. Accounts payable audits are an increasingly popular way to do away with human error in the area of invoice and claims handling, by using advanced forensic technology to sniff out duplicate payments, overpayments and fraud.

Accounts payable is a frequently neglected sphere of large organizations. When company heads brainstorm ideas for restricting company costs and increasing profit, they often focus on how to reduce outgoings without paying attention to money lost actually while the payments are being administered. But companies especially large, international, or rapidly-changing organizations often find after an audit that they have inadvertently paid out millions of dollars in duplicate payments, over-estimated invoices, currency conversion errors or misapplied taxes or discounts. It’s natural that workers dealing with very large volumes of documents, in an area outside of context (i.e., accounts payable workers do not know what would be a reasonable fee for all services provided, from social media curation to window cleaning, or how regularly a department might need to order a particular product). However, in the digital age, dealing with huge amounts of data works differently. The best recovery audit software can scrutinize perhaps 20 or 30 separate data points within invoices to search out discrepancies that don’t add up.

While auditors cannot of course guarantee that overpayments will be unearthed, there is a surprisingly large margin of human error involved in accounts payable departments which, over the years, often adds up to sizable sums. Luckily, a high-quality accounts payable audit will include detailed recommendations for the future, to prevent future errors before they happen. Many software companies specializing in accounts payable tools are occupied in constant research to improve the capability and intelligence of their recovery audits. Because technology grows out of date so fast, companies often find themselves surprised that they are losing money with a system they thought was in working order and because overpaid suppliers rarely raise the issue or spontaneously repay, errors go undetected until a reliable audit is conducted.

The best AP system would do away with any risk involved in exposure to fraud, human error or inefficiencies within different departments. It would also be future-proof, making sure that no modification made to invoicing processes within the company would let duplicate payments, overpayments or out of date payments slip through the cracks. However, as a company grows bigger, it will inevitably become more unwieldy and more challenging to manage. Regular accounts payable audits can exercise the most recent software to reclaim thousands or millions of dollars, providing a fantastic boost to each company’s bottom line.

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