The F.R.E.E. Inc. Difference
Our thoroughness is a key factor in discovering and recovering overpayments. Our proprietary Duplicate Payment Program is an industry-leading, computerized program to detect duplicate payments in 18 different ways by researching and evaluating vendor history information. And, we conduct an on-site, 100% physical check of up to four years’ worth of paid invoices, unlike other firms who perform only a general sampling.
We look for sales taxes paid in error, pricing and quantity discrepancies, reimbursable freight charges, earned discounts not taken, and credit memos not applied to vendor payments. We also perform a computerized examination of other financial databases, determining, among other things, quantities bought and dollars spent, to achieve purchasing efficiencies.
An Independent Process
Throughout the audit, our procedures are designed to be efficient, with minimal interruption of your day-to-day business. In fact, after a brief first-day orientation, F.R.E.E. Inc. works independently of your staff. We pull and replace files on our own and, with your prior approval, handle any contact with vendors. At all times, we act with exceptional care and discretion. In our Letter of Agreement is our written commitment to total confidentiality.
Recovering Your Money
Vendor relationships are very important in business, and we are especially aware of this. Not only is all correspondence conducted with your approval, when an overpayment is uncovered, we approach vendors with courtesy and professionalism. To expedite recovery of your money, we supply them with full documentation of all claims.
Preventing Future Losses
As an added value for our clients, we issue a comprehensive audit analysis and management report that can help tighten operations and minimize losses. We include clear recommendations that address internal controls, documentation, accounts payable processes, even interdepartmental transactions and other relevant procedures.
A Win-Win Situation
With F.R.E.E. Inc. you face no up-front expenses for your company. We work entirely on a contingency basis and receive a percentage of recovered overpayments as our fee. If there are no recoveries, there is no fee.
It isn’t often that a true win-win situation comes along. F.R.E.E. Inc.’s experience, expertise and effectiveness can regain profits that otherwise may be gone forever.