Case Studies

Unlocking $8.2 Million in Hidden Overpayments for a Leading Pharma Company

Key Features

Executive Summary

A total of £8.2 million in overpayments was identified and recovered through a comprehensive audit process.

The entire process of identifying and recovering the overpayments was completed in just 60 days.

Over 30 instances of financial inefficiencies were identified, including missed discounts and duplicate payments across divisions.

Objective

A leading global pharmaceutical company with $12B annual revenue suspected that there were still significant revenue recovery opportunities being overlooked. This is despite internal audits and the organisation using a competitor to carry out an accounts payable audit.

APLX were contracted to carry out an accounts payable audit with a sharp focus on duplicate payments, supplier statements and volume discounts.

APLX's Service

APLX analysed over 1.2 million transactions across multiple ERP systems which reflected the different divisions within the organisation. Combining our proprietary audit software and highly skilled auditors, several errors were highlighted. An extensive knowledge of the pharmaceutical industry ensured maximum results but also required little customer input, keeping the audit light touch.

Results:

Within 60 days of receiving the data, our team successfully recovered £8.2 million through recovery of duplicate payments, missed volume discounts, and unclaimed credits notes. The whole process was expertly managed our team ensuring no disruption to day to day activities. By partnering with APLX, the client gained not only immediate recovery but also long-term improvements in their financial processes.