PCS utilizes the following five-step process in conducting a completed business document review.
This procedure minimizes the client's involvement in the review and significantly reduces
the time required in recovering verified overpayments.
- Analyze/Discover: Vendor history data is obtained electronically. The data is converted (if necessary) and downloaded into PCS's proprietary REACT software. Then, the data is sorted via multiple criteria and analyzed. During the on-site operational phase, the review team analyzes an entire year's vendor transactions for up to twenty-seven recovery areas. The review team then works within the client's system to understand the nature and cause of each discrepancy.
- Document: Utilizing the archived electronic data and available source documents, the transaction event is thoroughly documented. Included are supporting schedules, flow charts, procedural deviations, and state, local and federal tax regulations, as required.
- Verify: All overpayments undergo a thorough internal investigation before involving the vendor. Vendors are contacted using the PCS phone/fax/mail procedure. Supporting documents are provided to expedite the vendor's research. All discrepancies must be 100% verified by the vendor before collection is initiated.
- Collect: The review team recovers the approved claim in a predetermined method acceptable to the client. Recovery choices include credit against future purchases, refund checks, debit memos and occasionally, exchange of goods and services.
- Report: Weekly, review progress is reported, including findings to date and any observations from which the client might benefit immediately. A Management Summary Report is provided on hard copy and/or CD ROM at the end of the client's engagement which details all overpayments identified, compares the client's results to those of the related industry, and provides management points (observations and suggestions) for potential improvements in operational efficiency.