This issue is particularly evident in the merchant acquiring industry, especially where a merchant is charged on an interchange+ or interchange++ basis, in which scenario there may be many hundreds of charging lines to check on a single invoice.
Errors in the application of interchange, scheme fee or acquirer-processing fee charges can easily result in six-figure costs to merchants and often go unnoticed for extended periods of time.
CMSpi will undertake a full audit of your supplier invoices, using our in-depth understanding of underlying cost structures in merchant acquiring and other payments fields to pinpoint incorrect charges and utilizing our unrivalled market knowledge to identify erroneous trends. CMSpi will present the findings of the audit, detailing both historical and ongoing errors, with a range of options to deliver rebates or credits as appropriate to compensate for incorrect charges. Depending on merchant preference CMSpi can provide a fully managed service to agree the value of any errors with your suppliers and ensure rebates are paid in a full and in a timely fashion.
Key Benefits of CMSpi's Invoice Auditing Service
Validation of accuracy of invoices
Historic rebates of significant value
Correction of ongoing charging errors
CMSpi’s unrivalled market knowledge and independent position allow us to validate your invoiced charges fully. Our technical expertise and understanding of underlying cost structures enable us to expose inconsistencies in your supplier’s invoices and compare your costs to supplier-specific and industry-wide reference data.
Did you know?
One in every five invoices we analyse have inaccuracies.
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