1 / 7

John Cooney Payables Analysis and Refund Recovery (PARR TM ) November 29, 2001

John Cooney Payables Analysis and Refund Recovery (PARR TM ) November 29, 2001. Energy and Utilities Learning and Education Session. issue. Payable Analysis and Refund Recovery (PARR ™)

beck-head
Download Presentation

John Cooney Payables Analysis and Refund Recovery (PARR TM ) November 29, 2001

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. John Cooney Payables Analysis and Refund Recovery (PARRTM) November 29, 2001 Energy and Utilities Learning and Education Session

  2. issue Payable Analysis and Refund Recovery (PARR™) • Used to identify, quantify, document and obtain material refunds that may result from erroneous payments to vendors and states. • The largest refunds typically result from overpayments made to vendors, including duplicate payments, open credits, missed discounts, failure of vendor to follow agreed upon contract pricing, and failure of vendor to properly reduce payments by agreed upon volume/timely payment discounts. • Additional refunds may result from the misapplication of sales/use tax exemptions within purchasing systems or accounts payable systems.

  3. action Drivers Opportunity Process Value • Multiple vendor pricing contracts • Decentralized purchasing and accounts payable (A/P) • Outsourced A/P functions • ERP system implementation • Mergers & acquisitions • Employee turnover Four Phase Approach • Immediate credits/ refunds • Root cause identification • Strengthen A/P process • Long-term success of A/P function • Obtain material refunds/credits of A/P transactions • Minimize future overpayments and costs • Maximize supply chain efficiency Initial Scoping and Review Quantification/ Documentation Refund Filing and Verification • Duplicate payments to vendors • Missed cash discounts • Vendor pricing errors • Additional vendor rebates Corrective Measures

  4. impact: • Identify and recover overpayments • Ensure payables system compliance • Enhance process • Identify corrective measures • Access to PricewaterhouseCoopers' business solutions

  5. E&U wins • Conoco - $900k in verified refunds (to date) • bp - $5.8 million in verified refunds • TEPPCO - $150k in verified refunds • Pennzoil - $1.5 million in verified refunds

  6. typical engagement • Sales Cycle is 4-8 weeks when sold at appropriate level (CFO/Controller) • Typical Project completed in 3-4 months • Client Benefits include refunds, corrective measures and overall process improvements • Fee Structure: - Non-Attest Clients – Contingency fee - Attest Clients – Fixed fee/negotiated back-end fee

  7. who to call • John Cooney Houston 713-356-8080 • Kevin Guy Dallas 214-953-7061 • Kyle Kasner Dallas 214-754-7265

More Related