David Bennett audited the billing systems of a global leader in payment, document and content processing solutions and outsourcing services.
All contracts with customers were fully investigated to find ways of delivering better value for money. Areas of interest included timing of billing, customers billing procedures and automation of billing systems.
Due to the nature of the company's core business, invoices would normally be phased in accordance with certain contract milestones but frequently would not coincide with revenue recognition. These delayed payments could last years and in addition customers would also lose track of them as a result of the delays. Consequently internal controls in place were not adequate to manage the billing system.
All missing invoices were investigated and any money that could be claimed back was claimed back. In addition David implemented new internal controls allowing payments to be received on a more regular basis and ensuring all payments and receipts were accompanied by appropriate paper work.
Our work ensured no money was lost due to lapse and delayed billing procedures. We also ensured all processes were fully documented and thus fully traceable.
Consultant Responsible: David Bennett
Developing Business Plans and Financial Models 
