SpendLab Recovery - Accounts Payable and Receivable Europe Solutions/Service Company

The Quintessential Technology Source for Corporate Financial Professionals

SpendLab Recovery: Intelligent Investigative Accounts Payable Analytics

Iris Lopes, Managing Director, SpendLab RecoveryIris Lopes, Managing Director
In today’s world of continuous technological growth, several processes in an organisation’s day-to-day operation are being digitalised. This also includes the information pertaining to every financial transaction the company has made or is planning to make. However, critical financial duties are often misdirected, even with an accounting team on board.

Particularly in the case of accounts payable (AP), enterprises face a slew of challenges that require high levels of expertise and experience to overcome.

An AP recovery audit is an absolute must for every company in today’s highly globalised marketplace, as businesses can identify various errors such as over payments, under-deductions duplicate payments and tax, to name a few. Leaving these issues unchecked spells very real uncertainties to the future of any enterprise. Thankfully for hundreds of companies throughout the world, SpendLab Recovery maintains the necessary skills and technological prowess to help improve financial operations, eliminating the many severe risks associated with improper AP auditing.

SpendLab Recovery is a data-driven, full-service recovery organisation that thoroughly investigates all facets of a client’s data to discover undue payments. “After many years of system optimisations and automation, companies are recognising various problems in their financial business processes that are not immediately visible,” explains Iris Lopes, managing director of SpendLab Recovery. The team of veteran professionals under Iris’ leadership leverage the latest technologies to analyse all kinds of AP data. The company additionally goes the extra mile and links disparate systems and sources in a client’s financial ecosystem and generates actionable insights that streamline auditing processes, all the while avoiding unwarranted financial risks from external sources.

After many years of system optimisations and automation, companies are recognising various problems in their financial business processes that are not immediately visible

SpendLab Recovery’s Accounts Payable Recovery Analyzer (APRA) offering is a proprietary platform built to centralise a slew of AP datasets from numerous financial systems and visualise this information within a span of six weeks.

A process that would normally take several months to accomplish is delivered more accurately and expeditiously via APRA. The on-premise solution also guarantees clients the highest level of security, where SpendLab Recovery’s intuitively product safeguard’s both personal and professional information. “We gather a client’s data from their enterprise systems and run it against various criteria. The output displays certain risk categories in AP, post which we perform recovery audits,” expresses Iris. Furthermore, APRA’s algorithms can also be utilised for detecting fraudulent AP activity as well.

To best elucidate the company’s capabilities, Iris shares the story of a business owner who noticed some errors with his payments. This firm reached out to SpendLab Recovery to help investigate the issue.
“I remember explaining to the client that we could help them, but all we required was a carte blanche on their data to find problems either at the top or bottom of the mountain,” recalls Iris. Because there are no limitations in data sources and the combinations thereof, possibilities arise that cannot be estimated beforehand. After APRA was integrated, the business owner was granted access to insights he never expected; his AP amount was almost double the correct sum, which was incredibly erroneous. SpendLab Recovery provided the client with actionable results within two months, allowing him to tackle all financial and legal issues quickly, efficiently, and cost-effectively.

With such strong capabilities and expertise, SpendLab Recovery currently stands as one of the leaders in AP solutions internationally. The company maintains several partners in Europe and also has an office in Miami, USA. The international influences help team SpendLab Recovery grow and support clients everywhere with the highest level of quality. Moving forward, the company intends to apply its technologically progressive approach towards developing more AP solutions and helping businesses everywhere avoid any and all financial risks in today’s hyperconnected milieu.

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Top 10 Accounts Payable and Receivable Solution Companies In Europe - 2021
SpendLab Recovery

SpendLab Recovery

Eindhoven, Netherlands

Iris Lopes, Managing Director

SpendLab Recovery offers expert investigative services into undue payments for companies on a no cure no pay base or a subscription model.