Full-Cycle Audit Road Map

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Audit Kraft Software empowers internal audit staffs with a simplified, managed workflow to enable “full-cycle” vendor auditing and enforcement across the entire procure-to-pay process.

Payment analysis focuses on the day-to-day disbursements. Analysis can be drawn from the invoice level and then “drilled down” to the item level for each invoice. Reports are generated based on

  • Total purchased
  • Discounts taken
  • Freight paid
  • Taxes paid
  • Other details input by your company

Procurement analysis focuses on purchases at the line item level. Reports are generated that reveal areas where there is the greatest potential for overpayment:

  • Duplicate payments (12 pre-designed reports)
  • Price spikes or anomalies (inconsistent pricing on invoices)
  • Contract compliance (contract vs. actual invoice pricing)
  • Payment of the right invoice to the wrong vendor
  • Discount analysis (contract discount parameters not being reflected on invoices)
  • Freight analysis (excessive or erroneous charges)
  • Sales tax analysis
  • Identical product purchased from different vendors at different prices
  • Contract recommendation based on product volume trends

The Kraft Group has been developing and using technology for many years, continually restructuring and streamlining the logic in recovery audits. The result is a state-of-the-art software solution that’s remarkably easy to use. In a matter of minutes, a user can begin identifying erroneous payments, uncovering lost profits, and bringing dollars to the company’s bottom line.