What Causes Mispays^sm?

Everyone wants to know what causes erroneous payments and how to eliminate them. Based on an extensive review of data, we’ve found the top causes to be vendors and approvers. At the bottom of the list, causing less than one percent of erroneous payments, is accounts payable.

Between 50 and 80 percent of all erroneous payments can be eliminated with straightforward actions and controls. Some apply to most organizations, some are industry, software package, vendor or company specific.

Jon Casher, Chairman of RECAP, is speaking on Finding, Recovering and Eliminating Erroneous Payments at the Managing Accounts Payable Conferences to be held in San Francisco from October 17-18 and in Chicago from October 27-28. The conferences, sponsored by Investment Management Institute and IOMA, cover a range of Accounts Payable topics.

For information about attending either conference, call IMI at (212) 370-1518.

As part of RECAP’s Payment Recovery Service, we provide recommendations and insights specific to your operation and your organization.