Supplier payment audit software checks vendor payments for duplicates, pricing errors, and compliance issues. Revenew International gives manufacturers both sides: gainIQ Prevent, continuous-monitoring software that flags potential payment errors before payment, and Supplier Payment Reviews, which recover overpayments already made.
What software catches
gainIQ Prevent is an internal financial control. It analyzes pending and historical payments, catches duplicate payments and procurement-card and T&E issues, tracks root causes on a dashboard, and monitors the vendor master file in real time. Revenew handles setup and integration.
Where a review adds to software
Software works from payment data. A supplier payment review also reads contracts, vendor statements, and rebate terms, so it finds missed rebates, credits, and pricing that differs from agreements. Revenew's reviews apply 40+ audit tests and 70 root-cause analyses; one review covered 2,395,000 invoices across 25,376 vendors. For more on how these reviews work, see what a recovery audit is.
How manufacturers use both
- Start with a Supplier Payment Review to recover past overpayments and find root causes.
- Put gainIQ Prevent in place so the same errors are flagged before payment going forward.
- Review root-cause trends with finance, procurement, and accounts payable.
Results for manufacturers
- $1.9M identified and $1.2M collected in a supplier payment pilot for a $40B global manufacturer
- $900K in payment errors prevented for a manufacturer with gainIQ Prevent
- $185M in cumulative savings for a global medical-device manufacturer, a client since 2005, including $163M from duplicate-payment prevention
Contact info@revenew.com or (281) 276-4500 to see how prevention and recovery fit your payment process. You have everything to gain.