"You must deodorise profits and make people understand that profit is not something offensive, but as important to a company as breathing."

Sir Peter Parker
  British Rail

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Profit recovery entails a systematic review of all transactions to identify overpayments or unclaimed benefits, due to a company.

Errors come in many forms: duplicate payments to suppliers, unclaimed input VAT, unclaimed credit notes, incorrect postings, or payments that differ from the contractual price as per agreement
to name only few.

All organisations lose money this way
to a greater or lesser extent. These losses can and do run into millions of rands.

Error rates increase significantly in the presence of certain high-risk factors, including high staff turnover, understaffed finance teams, mergers, unbundlings or acquisitions, or the implementation of new accounting systems.

Auditors have retreated from large-scale substantive transactional testing and will only look at potential errors if they have a very high materiality level.

There is, therefore, a need for an independent substantive test on all transactions to ensure accuracy.

Profit Recovery Solutions utilises state-of-the-art
DataTherapist™ proprietary software to review every subsystem of your accounting records, looking for potential errors. Our team of experts uses their experience to review the reports produced, to highlight possible errors.
Identification of a potential error is only the first step. All exceptions have to be investigated and documented, possibly making use of specialist advice. At all stages of the
RiskMetrics process our client is kept informed of progress made.

Our work is complete once our client claims a deduction, or a refund has been received.

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