Choosing the right Recovery Audit partner: A practical guide

How to choose a recovery audit partner to suit you

As an AP Manager, your role is to protect your organisation’s spend, reduce working capital leakage, and maintain efficient and compliant payment processes. A recovery audit is a powerful way to uncover historic overpayments, missed payments, and credits, and if you choose the right service partner, they can be an (almost) painless process.

With many providers promising similar results, it’s essential to know what to look for when comparing services. It’s also important to consider what your team needs and the level of scrutiny necessary. Take into account your existing controls and any gaps you’re aware of.

Here’s a six-point checklist to guide your decision-making and help you find a recovery audit supplier that works with your needs and gives the best value.

Proven results and transparent metrics

Experience is key, but so is expertise. Choose a partner that can demonstrate tangible savings and consistent audit successes over time. Ask for case studies, recovery rates, and KPIs upfront. Find reviews of the supplier from their customers and people they’ve worked with, including sites that host impartial reviews, like Google.

As you know, in finance, facts and numbers always speak louder than promises. A supplier who has delivered millions in recoveries across a range of recovery projects is far more reassuring than one who offers generic statements and no social proof.

Minimal disruption to AP operations

For your AP team to operate the day-to-day with minimal disruption, you need a partner who knows what they’re doing. The ideal partner makes time to understand how your team functions and works with your existing processes, systems, and timelines. They will facilitate the process by working with your needs. If you need to exclude a supplier from the audit? Say no more – it’s done.

Ask up front how much involvement is needed from your team. A good provider lifts the burden, not adds to it with extra legwork and unnecessary demands.

Technology-enabled with human oversight

Manual audits are slow and error-prone, but automation alone lacks context. The best recovery audit providers blend advanced analytics with experienced AP professionals, who know exactly where to look to get the best value.

Understand the level of technology your supplier is providing. Can they identify a broad range of errors and issues that could lead to duplicate payments and overpayments?

How do they validate their findings? Bonus points if they provide a data sample for your team to review before proceeding.

Post-audit insights and prevention support

While traditionally the recovery audit focuses on getting the most monetary value from the project, truly, the real value for your organisation lies in receiving insights that assist you in the long-term.

Your end goal with a recovery audit needs to go further than this. It should aim to avoid the errors that resulted in overpayments and duplication. Choose a partner who provides reports with root cause analysis and process improvement recommendations.

Sector experience and compliance understanding

Public sector or private, NHS Trust or Government—your sector matters. A partner familiar with your environment will better understand governance, policies, and nuances in your processes, making the recovery audit simpler all around. Ascertain whether they comprehend your compliance pressures, can align with your procurement rules, and your internal controls.

Clear commercial model and fair fees

Recovery audits are usually contingency-based, but terms can vary widely. While some auditors may take a fee only on the cash returned, others may base it on the opportunities identified, which can result in higher costs if they are unable to recover all those funds. Read carefully before signing to ensure the commercial model is transparent, with no hidden fees or surprise clauses.