Medius, a forerunner in AP Automation and comprehensive Spend Management solutions, has recently embarked on a strategic alliance with Caatalyst, a global recovery audit powerhouse. This collaboration denotes Medius’s maiden voyage into the realm of AP Audit Profit Recovery.
The business landscape has witnessed a surge in insolvency rates, thrusting many businesses into the daunting challenge of operating on slender margins and minimal profitability. Medius and Caatalyst have converged to tackle this escalating predicament. Their joint venture encompasses cash recovery audit, coupled with purchase-to-payment AP automation and fraud detection, offering a holistic solution.
Caatalyst, with its profit recovery audit, imparts a notable fiscal uplift to its clients. This is achieved predominantly by pinpointing and rectifying historic supplier and tax overpayments. The insights from Caatalyst’s audit are instrumental for business magnates, enabling them to spotlight and rectify weaknesses within their payment frameworks, thus curtailing future financial drains. Remarkably, Caatalyst has audited a staggering £300bn AP spend, collaborating with over 70 global clients.
Highlighting the efficacy of their audits, a consistent recovery rate of 0.15% of the audited spend is observed. This translates to colossal recovery sums for larger corporate entities.
In synergy with Caatalyst, Medius accentuates this cash recovery audit. Their primary objective is the prospective prevention of financial drainage. Post Caatalyst’s retrieval of past revenue deficits, Medius, harnessing the prowess of AI and ML, revolutionises the AP profit recovery approach. Their strategy zeroes in on crucial risk compliance domains, inclusive of fraud detection and repeated invoice duplications, thereby integrating advanced protective tech measures against recurring issues.
Caatalyst CEO Charlie Watson remarked, “This partnership between Caatalyst and Medius is especially important in today’s business climate. There’s nothing like a significant recovery item to crystallize issues in the P2P process.
“Our partnership is symbiotic – we help clients look into their historic transactions to recover lost profits and Medius’s AP profit recovery helps businesses look forward to understand how to maintain a healthy cash flow in the future. This is a great opportunity to work together to ensure customers achieve a best-in-breed finance platform.”
Medius’s UK Partner & Alliances Director, Doug Embleton, stated, “Medius recognises the added value we can bring to Caatalyst’s cash recovery audit and our customers. Our extensive case study evidence reveals that 0.15% of Purchase/AP Spend can be recovered as real cash back into the business.
“Simply put, businesses don’t know what they don’t know – and it’s our job to help them detect and identify areas of risk so that they can improve their processes and increase their cash flow. We look forward to our partnership with Caatalyst in creating an industry standard benchmark to help our clients identify unnecessary revenue leakage and risk compliance within their current systems.”
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