Unlocking Hidden Value: The Importance of Invoice Forensics
In the complex and fast-evolving landscape of financial management, maintaining an accurate and efficient validation process for invoice payments is essential.
Validate Accurate Payment for Your Supplier Services
What hidden costs are draining your budget? In your ongoing pursuit to take out costs, pinpointing and reconciling billing inaccuracies may be the simplest and most effective method to achieve savings ranging from 3% to 10% across your suppliers.
Supplier invoices are complex, and finding the right talent to handle invoicing can be challenging. ISG Invoice Forensics is an in-depth examination of historical invoices designed to uncover billing discrepancies and excess charges. We bring
the experts and processes to see through complexity and ensure accuracy in every invoice.
ISG uses our proprietary framework to analyze invoice data and build financial models to uncover oversights, ensuring that you take full advantage of contract benefits while identifying new areas for cost optimization. We also provide actionable recommendations and contracting leverage based on comparisons to market data to further optimize spend through contract restructuring or renegotiation.
ISG Invoice Forensics empowers you to:
Achieve substantial savings
Depending on the type of service
or product, the potential savings can range between 3% and 10%.
Mitigate unnecessary spend
Identify contract vs. invoice discrepancies and prevent ongoing cost and value leakage.
Avoid paying for decommissioned sites or assets, ex-employees or excessive project resourcing.
Enhance visibility in supplier spending
Use data to make decisions when decommissioning legacy systems, splitting spend between suppliers or negotiating a new contract.
Reduce financial risk
Control for excessive charges now and in the future by using ongoing invoice validation to negotiate savings and benefits.An actionable savings plan in four simple steps
- Gather
Collate all available data for ISG Invoice Forensics. - Assess
Our team will assess your invoices to determine potential savings. - Review & Analyze
After completing an in-depth analysis of the data, we will review the data and create a preliminary report for review with your team. - Recommend
You will receive a recommendation report including:- A high-level savings plan and a savings category report,
- A detailed savings register, which can be sent to your supplier, and
- A cost avoidance tracker.
How can ISG Invoice Forensics Help You?
An Australian retail bank saved over $1M on a $15M contract by identifying billing inaccuracies from their telco provider.
A leading manufacturer saved $1.2M, or 8% of the annual invoice value, by identifying discrepancies on hardware spend.
A leading manufacturer saved $570k across two suppliers by identifying billing discrepancies in their infrastructure spend.
Insights to Help You Optimize Costs Throughout Your Organization:
Client Stories
How a Financial Services Company Modernized and Streamlined Its Sourcing and Procurement Operations
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