Accounts Payable Audit Software Solution

Descriptions

Wrexham County Borough Councils Account Payable Team require a Software Solution (preferably Cloud Based) to have the ability to run an Audit on transactions daily/weekly; key considerations are:a. Prevention & Protection – Software prevents duplicate payments being made, thereby protecting working capital and public funds to avoid the administrative costs of dealing with credit notes and trying to recover payments which can be time consuming.b. Process Improvement – Highlight potential problems with the processing of invoices. It will draw our attention to the worst performing suppliers and ensure internal processes are constantly improved.c. Improve compliance – The way invoices are entered or forced onto the accounting system often creates issues and possible duplicates. Software to monitor these inputs and enforce compliance and best-practice Accounts Payable Policies.d. Minimise Supplier Fraud – Through complex interrogation unusual entries can be highlighted to assist with fraud prevention.e. Extra Control – To assist with payment times reducing in some cases to as little as 10 days as it is essential to have increased control and visibility of invoices coming into the department.f. Master File Maintenance – The ability for an Accounts Payable Forensics Tool to clean up the master supplier file of duplicates and errors on a periodic basis.g. NFI Overhead – Software to prevent mistakes and duplicates and improve the way in which invoices are entered, will reduce the number of NFI results which would result in efficiencies.h. Internal Audit – using a Forensics tool on a regular basis will support internal audit and save their time on audits. Risks associated with duplicate payments and errors will be radically reduced.Please provide an overview of your software solution and send this to Rachel Glynn-Thomas, ICT Category Manager on email – rachel.glynn-thomas@wrexham.gov.ukNOTE: To register your interest in this notice and obtain any additional information please visit the Sell2Wales Web Site at http://www.sell2wales.gov.wales/Search/Search_Switch.aspx?ID=76717.