Prevention vs Profit Recovery

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Information about Prevention vs Profit Recovery
Finance

Published on February 4, 2014

Author: jasonmutz

Source: slideshare.net

Description

This slideshare gives a great explanation of the benefit of preventing lost profits due to payment errors as a next generation solution to traditional recovery efforts.

Prevention vs Recovery A story about financial controls and your best friend Buddy

Hi My name’s Jason, Thanks for stopping by and checking out my presentation. I want to show you how you can shift focus from recovery to prevention when it comes to lost profits from payment errors.

Hi My name’s Jason, Take a moment to consider: Is there any instance when it’s better to recover something that’s lost, rather than prevent losing it? …OK, I’m sure there’s gotta be one, but I can’t think of it.

Example: Better to keep your keys in a good spot…. ….than frantically search for them on the way out the door

… But… Sometimes, recovery seems to be the only way.

This is Buddy Buddy is your best friend You want to keep Buddy as safe as possible

This is Buddy The problem is, Buddy tends to run away and get lost So you buy Buddy a tag

This is Buddy I mean, that’s what you do to protect Buddy, right? But tags don’t guarantee anything And rewards are… $$ Expensive $$

But… (again) But what if you could use technology to keep Buddy home?

What If? And what if Buddy is just like your company’s profit? =

What If? And that Gold Prairie works just like the invisible fence? =

Hmm… How does it work, you ask? Gold Prairie uses continuous monitoring technology to analyze EVERY transaction in your payment process in near real time And runs a series of tests to flag instances of risk or payment error

Why do I care? It analyzes my transactions, so what? By catching errors during the payment process, you can PREVENT your company’s profits from being lost =

$ What kind of errors can you find? Gold Prairie can be configured to identify any sort of risk or error that can be found in your payment data Common areas include: • Duplicate AP payments • Duplicate P-Card transactions • Incorrect T&E payments • Payments to wrong vendors • Policy Auditing • Fraud risk

FAQ Some frequently asked questions Q: What ERP systems does Gold Prairie work with? A: Gold Prairie is ERP agnostic and works with any ERP system. Q: What sort of IT resources are needed? A: With our SaaS model, setup is minimal – just a data feed. Q: What kind of results can I expect? A: On average, Gold Prairie reduces the cost of a traditional recovery audit by about 80%. Q: What is the time investment for implementing Gold Prairie? A: The average set up time and training period is about 3-5 days. Q: What is the typical ROI timeframe? A: On average, you’ll achieve full ROI within 30 days, the rest is all gravy.

How about a quick phone call? The best way to start is with a brief discovery call. If further evaluation makes sense, you’ll be on your way to learning how Gold Prairie can make an immediate impact on your company. If not, you’ve only invested about 5-10 minutes of your time. That’s a small investment with a BIG upside!

Call Me! Again, my name is Jason – let’s talk Shoot me a phone call or email: • 5-10 minutes • No pressure, no email lists, no invisible fences • Mention this Slideshare presentation and receive a Starbucks gift card • C’mon, do it for Buddy Jason Mutz 630-563-2793 jmutz@goldprairie.com www.goldprairie.com Click to follow Gold Prairie

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