Cost Recovery Services
Our mission at Hilco Profit Recovery is to help businesses to recover profits lost through leaks in the purchase-to-payment process. Together, our detailed Property Cost Recovery and Accounts Payable Cost Recovery Audits scrutinise all aspects of the process, allowing us to identify – and recover – any overpayments made to Suppliers and reap other financial benefits for our Clients. As the fees for all of our services are taken as a proportion of the monies we recover, there is no direct financial cost to our Clients.
Our team strives to deliver the best possible service. Using our wealth of knowledge and experience allied with cutting-edge software, we not only identify more than our competitors but also provide insight and feedback that help our Clients improve processes to reduce future losses. We recognise that not all businesses are the same and work closely with our Clients to provide a service that is effective, efficient and unobtrusive.
Areas covered by our services
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What does my organisation stand to gain from conducting a review?
There are a number of factors involved but the 'Rule of Thumb' applied within the industry is that as much as 0.1% of an organisation's Accounts Payable spend is lost through overpayments. This may not seem like a significant proportion but a business that spends around £500 million per year could have lost up to £2 million over 4 years.
Even with the strictest controls in place errors can still occur, we can identify those errors and the primary causes helping your organisation to reap a direct financial benefit and improve your processes for the future.