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Cost Recovery: Turning Your Accounts Payable Department into a Profit Center [Hardcover]

Richard B. Lanza

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Price: 49.60 & FREE Delivery in the UK. Details
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Book Description

11 Sep 2009
Cost Recovery: Turning Your Accounts Payable Department into a Profit Center shows how to identify a company′s hidden financial assets. It provides tools to assist organizations generate cash recoveries, stop profit leaks, move away from control issues, and work towards process improvements. The book shows how to incorporate profit recovery technology, and how to pair a company with a recovery expert best suited to the company′s needs to achieve bottom line results. The book discusses how to utilize free services offered by cost recovery consultants, using of top money–saving proves improvements, and how to create a plan to maximize recovering technology.

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Review

"Now every organization can generate cash recoveries, stop profit leaks, move away from control issues, and work toward process improvements with the tools found in Cost Recovery . Authoritatively showing how to incorporate profit recovery technology to achieve stellar–bottom–line results, this insightful and highly readable book provides step–by–step guidance for completing a cost recovery effort of any company′s spending." ( AccountingWEB.com , February 8, 2010) "Mr. Lanza has authored an excellent how–to book for auditing your accounts payable functions to determine how you might recover costs for your company…it is logically organized, clearly written and meant to be a work guide. This book should be on every financial manager, controller and CFO′s desk." ( Executive Leader Coach , December 2009)

From the Inside Flap

Now every organization can generate cashrecoveries, stop profit leaks, move away from control issues, and work toward process improvements with the tools found in Cost Recovery: Turning Your Accounts Payable Department into a Profit Center . Authoritatively showing how to incorporate profit recovery technology to achieve stellar bottom–line results, this insightful and highly readable book provides step–by–step guidance for completing a cost recovery effort of any company′s spending. Audit technology expert Richard Lanza clearly explains how to utilize free services offered by cost recovery consultants as well as how to assess risk based on the company′s control issues to identify the top areas of likelihood for recovery and process improvements. This important book looks at cost recovery from every angle, with in–depth coverage of areas including telecommunications, utilities, healthcare, advertising, media, freight, tax reduction, project fraud, and more. Filled with illustrative case studies, Cost Recovery: Turning Your Accounts Payable Department into a Profit Center is a time–saving road map revealing: Why every company should consider recovery services How to overcome obstacles to implementation of cost recovery The opportunities—and risks—involved in recovery How the cost recovery market works and which trends affect it How to select the best possible provider What the cost recovery auditor does The recovery technology used by firms to focus their testing efforts The only book available to look holistically at the cost recovery process, Cost Recovery: Turning Your Accounts Payable Department into a Profit Center makes it easier for companies to better understand the nature of recovery firms and to start saving money...before it disappears.

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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Amazon.com: 4.9 out of 5 stars  8 reviews
1 of 1 people found the following review helpful
5.0 out of 5 stars Everyone is looking for cash - here's another place to look! 3 Oct 2009
By Dave Kinnear - Published on Amazon.com
Format:Hardcover
Mr. Lanza has authored an excellent how-to book for auditing your financial functions to determine how you might recover costs for your company. This 300 page (not including appendices) text is logically organized, clearly written and meant to be a work guide. While I read it from front to back, I can easily imagine jumping in at a chapter that addresses an issue I wish to tackle in my company.

The first two chapters make the case for the benefits and outlines the usual obstacles to getting recovery projects started. They also make it clear why, for many companies, it will make sense to first start with a service provider in this field and then, perhaps, continuing the audit work on your own. Each time you begin a project in a new area, bringing in a skilled cost recovery specialist helps you determine best practice that you can carry forward. Annual audits of your processes from an outside firm will ensure that personnel conflicts or process changes are corrected.

Chapters three and four focus on how to assess and prioritize projects and gives a history of how the overall Cost Recovery Market works. Chapter five begins the details, including excellent case studies, on how to audit accounts Payable and Procurement. Chapter six addresses Advertising and Media cost reviews; chapter seven addresses benchmarking, and chapter eight provides insight into escheatment (unclaimed property). Chapter nine reviews auditing of freight invoicing; chapter ten delves into health and benefits; chapter 11 addresses leases. Chapter 12 looks at the process of order to cash and how to improve that process while chapter 13 gives some insight into how we might find cash in payroll tax credits. The next two chapters, 14 and 15, specifically look at fraud in general operations and projects respectively. Chapter 16 gives an overview of real estat cost segregation; 17 is R & D tax credits and 18 looks at Strategic sourcing issues. Chapters 19 through 21 discuss issues around Telecommunications, Travel/Entertainment, and Utility reviews.

Chapter 22 gives clear insider knowledge on how to select a service provider to help you get started with Cost Recovery. Chapter 23 discusses the technology used in recovery efforts (as you might imagine, there are many software packages available to help as well as procedures to follow). And finally, Chapter 24 brings all of the concepts to summary with a conclusion.

Most of the chapters have case studies and each has a section on conclusions to be drawn from the preceding details. The five appendices are full of information from additional reading on the topics around Cost Recovery to "Tapping the Strategic Potential of Procurement.

This book should be on every financial manager, controller and CFO's desk. Especially in today's environment of limited credit and tight cash flow, it seems imperative to me that companies of all sizes should be concerned with check and triple-checking to be sure they are gaining all the cash advantages the possibly can. To assume we know what we are doing and that everything is being done that can be done is still and assumption until you test and verify that such is actually the case. Small companies are especially prone to believing that they know what's going on and that there aren't any improvements to be had - "we don't have that many transactions." If that's true, why not prove it? Cost Recovery will help you understand how you might verify your assumptions as well as going a long way towards helping you actually do so.
5.0 out of 5 stars This Book is Absolutely Gold 22 May 2013
By Kumar - Published on Amazon.com
Format:Kindle Edition|Verified Purchase
Being a finance professional. I know value of such book which comes along your way once in a while.

Seriously using some of the techniques in book, I have added lot of money to my client's business.

Now, I offer this a specialized service.

Thank you for such wonderful book
5.0 out of 5 stars Alas, a detective control that turns auditing into a profit center! 11 Sep 2009
By Bob - Published on Amazon.com
Format:Hardcover
"Internal control professionals can glean practical insights on cost recovery from Rich's book and gain valuable insights into best internal control practices. Industry, government and education evaluators can convert vendor overcharges into cash: employee benefits, freight, leases, service agreements and much more... Alas, a detective control that turns auditing into a profit center!"
5.0 out of 5 stars Solid Overview 26 Aug 2009
By Steven Bragg - Published on Amazon.com
Format:Hardcover
Rich is a long-term practitioner in the cost recovery field, and he pours a great deal of his extensive knowledge into this Guide. It is essentially an encyclopedic approach to the hows and whys of cost recovery services. Not only does the reader learn about the basic mechanics of how cost recovery works, but also has access to numerous case studies showing how it works in such functional areas as payables, advertising, health benefits, leasing, and telecommunications.
5.0 out of 5 stars Chairman, Association of Certified Fraud Examiners 25 Aug 2009
By Joseph T. Wells - Published on Amazon.com
Format:Hardcover
"Is your company leaking cash without even knowing it? Lanza's easy-to-read book gives practical points on how to increase profits with little or no added cost. This is the corporate equivalent of finding money on the sidewalk; just reach down and pick it up!"
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