How SpendLab recovered more than €200 million EUR for its clients

14-04-2021 | treasuryXL | SpendLab |

Our Partner SpendLab Recovery is the Dutch market leader in spend justification. The company is a former spin-off from the Dutch government with a 98 year old heritage in procurement. It currently specializes in generating liquidity for clients by analyzing -and identifying anomalies in accounts payable data.  SpendLab generates liquidity for clients by using their Accounts Payable Recovery Analyzer (APRA) and thereby is able to recover millions. Last year, SpendLab recovered almost 400 million invoices and recovered over €200 million in Cash & Profit. With a Customer rating of 8.1, SpendLab is able to deliver quality services to its clients.

Find out how SpendLab recovered millions of value for its clients and how SpendLab can help your organization via this interview conducted in collaboration with treasuryXL!

We asked SpendLab 10 questions, let’s go!

INTERVIEW

1. Can you tell something about SpendLab Recovery?

SpendLab is the Dutch market leader in spend justification and has grown significantly during the past years. The organization is a former spin-off of the Dutch government with a 98 year old heritage in procurement. SpendLab is specialized in generating liquidity for clients by analyzing- and identifying anomalies in raw Accounts Payable data. Besides the generation of liquidity as part of Treasury, we provide compliance reports that are used by our clients to achieve compliance objectives.

2. What was the main reason to start SpendLab Recovery?

During our analyses back in the day we identified that a significant number of invoices and payments were processed incorrectly in Accounts Payable departments of organizations. As a result of these incorrect processes, liquidity could be recovered over multiple historical years.

During the years we significantly invested in our technology in order to provide our clients with a value proposition that is comprehensible, covering all aspects of an Accounts Payable recovery audit. Despite the approval of financial years by Auditors and Accountants, we are able to recover liquidity from the Accounts Payable for our clients. Nowadays we provide liquidity, a 100% analysis of the administrative Accounts Payable processes, and compliance -and risk reports that can be used for compliance purposes.

3. What is, in your perception, the core issue that SpendLab Recovery solves?

Administrative departments within organizations consistently encompass irregularities that lead to the loss of liquidity, despite the level of automation that is adopted. There will always be a continuous flow of business operations inside an organization, and if there are any checks in place, then these checks are mostly reactive and are used as an add-on for a team or employee. SpendLab specifically focuses on the Accounts Payable and is able to identify any irregularity within the raw AP data. Thereupon, we recover rightful liquidity for clients that they can use for value-adding activities.

4. What are the biggest advantages of using SpendLab Recovery?

From our own perspective the generation of liquidity from the Accounts Payable of financial years that were audited and ‘’closed’’ is a great advantage for our clients. Specifically, we are remunerated for the amount of liquidity that we recover.

In terms of Procurement, the Procurement department is usually in the lead during the contracting phase. However, after this phase a lack of insights and active control exist in how suppliers perform in processing invoices. Through our approach and the methods that we use, you could say that we are educating the suppliers of our clients in processing invoices correctly. Besides, it creates awareness that our clients are performing Accounts Payable Recovery Audits on a structural basis.

5. How does the customer project phase looks like from start till actual results?

Our recovery analysis consists of six project phases and requires approximately four months to conduct. The first results will be visible after only eight weeks. Below the project planning can be found.

6. How fast can customers experience the impact of SpendLab Recovery after implementation?

The average lead time of a recovery project is four months. The first payments from suppliers, however, will be collected after just two months. SpendLab is only charged based on the payments that are received, on the basis of no cure no pay.

7. What is the biggest challenge you ever experienced with SpendLab Recovery?

In the very beginning of Account Payable recovery audits, research was done based on spreadsheets. In the past five years we have invested significantly in our IT-platform APRA®. Nowadays, we have a team of more than twenty employees in the Technology department that are continuously developing software for Recovery. The transformation from manual research to automated research in combination with Machine Learning and Artificial intelligence has been the biggest challenge within SpendLab, and could not have been possible without the team and the investments that had to be made.

It has been a challenging choice to completely focus on IT development. However, this choice has enormously helped our organization in optimizing our service, identifying anomalies in Accounts Payable data, and remaining thought leader in the field of Accounts Payable recovery.

8. What have been the latest successes around product development?

Remote and safe access to ERP systems. Whereas our Data Collections team used to literally fly all around the world to align data requirements and to safely collect the raw data of the Accounts Payable that we need for our recovery audit, we can now align and safely collect (ISO:27001; ISO:9001 certified) the data remotely with and from our clients. SpendLab is now able to conduct a complete Accounts Payable recovery audit on a remote and digital basis. Since March 2020, COVID-19 has only accelerated this level of digitization and the service that we provide for our clients.

Moreover, as an organization we have completely changed our way of working. We now work from our platform on a digital and remote basis. Just like every success, this could not have been achieved without challenges.

9. Can you give us an outlook on the product developments and tell us a bit more about your vision?

We have gone from subsequent recovery analyses over five financial years to periodical visualizations. Together with our clients we have developed a complete recovery service, which we can utilize several times a year over the current financial year. Instead of conducting subsequent recovery audits, we are now aiming to provide our clients with a subscription agreement in which some of our clients even take care of the recovery themselves.

Despite that organizations keep optimizing their internal -and external processes, there will always be errors in processes. Based on the collaboration with and input from our clients, we have invested in optimizing our compliance -and risk reports. We can now offer the visualization of these reports in Power BI, which allows our clients to have live and real-time insights in the Accounts Payable.

10. The world is always changing, how does SpendLab Recovery stays one step ahead of its competitors?

SpendLab has always chosen to conduct Accounts Payable recovery audits only, and we are now an absolute leader in spend justification. This leadership role allows us to partner up with top leading international organizations and to discuss the current and future capabilities that they require from our recovery service. By commencing structural dialogues with leading organizations and system suppliers we challenge tomorrow’s needs in Accounts Payable solutions.

 

Interested in a free SpendLab Recovery demo and see how your company can benefit?

Contact us!

 

SpendLab Analyzer | Centralization of Accounts Payable Data Platforms

| 7-4-2020 | treasuryXL | SpendLab Recovery |

Our Partner SpendLab Recovery is introducing the SpendLab Analyzer, a way to centralize accounts payable data platforms worldwide. The platform has the ability to detect failures on Vendor level and provide real time insight. Furthermore, the SpendLab Analyzer can discover undue, incorrect double payments and VAT anomalies

More and more CFOs and Financial Controllers are choosing to work with the latest technology available within the SpendLab Analyzer because of the direct results in extra money, savings and data quality. The result of the analyzer is a recovery of more than 240 million euros in overpaid amounts to the tax authorities and suppliers over the past 5 years.

In addition, the quality in data improvement helps to save money in processes and the statistics ensure that the Compliance & Risk reporting is improved. The SpendLab Analyzer can be used independently of the ERP system (SAP, JD-Edwards, Oracle) used by the organization.

More info and contact information here.

 

Partner Interview SpendLab | Leaders in Spend Justification

17-11-2020 | treasuryXL | SpendLab |

SpendLab Recovery generates liquidity for clients by using their Accounts Payable Recovery Analyzer (APRA). APRA is a technology platform that combines over 400 algorithms, Big Data, AI, and machine learning, and audits all the raw Accounts Payable data in any ERP system to identify anomalies. Several examples of anomalies include but are not limited to: undue payments, double invoices, overpayments, and overpaid VAT. Over the past years, SpendLab has analysed over 321 million invoices and has recovered more than €200 million EUR for its clients.

We asked the company 10 questions, let’s go!

INTERVIEW

1. Can you tell something about SpendLab Recovery?

SpendLab is the Dutch market leader in spend justification and has grown significantly during the past years. The organization is a former spin-off of the Dutch government with a 98 year old heritage in procurement. SpendLab is specialized in generating liquidity for clients by analyzing- and identifying anomalies in raw Accounts Payable data. Besides the generation of liquidity as part of Treasury, we provide compliance reports that are used by our clients to achieve compliance objectives.

2. What was the main reason to start SpendLab Recovery?

During our analyses back in the day we identified that a significant number of invoices and payments were processed incorrectly in Accounts Payable departments of organizations. As a result of these incorrect processes, liquidity could be recovered over multiple historical years.

During the years we significantly invested in our technology in order to provide our clients with a value proposition that is comprehensible, covering all aspects of an Accounts Payable recovery audit. Despite the approval of financial years by Auditors and Accountants, we are able to recover liquidity from the Accounts Payable for our clients. Nowadays we provide liquidity, a 100% analysis of the administrative Accounts Payable processes, and compliance -and risk reports that can be used for compliance purposes.

3. What is, in your perception, the core issue that SpendLab Recovery solves?

Administrative departments within organizations consistently encompass irregularities that lead to the loss of liquidity, despite the level of automation that is adopted. There will always be a continuous flow of business operations inside an organization, and if there are any checks in place, then these checks are mostly reactive and are used as an add-on for a team or employee. SpendLab specifically focuses on the Accounts Payable and is able to identify any irregularity within the raw AP data. Thereupon, we recover rightful liquidity for clients that they can use for value-adding activities.

4. What are the biggest advantages of using SpendLab Recovery?

From our own perspective the generation of liquidity from the Accounts Payable of financial years that were audited and ‘’closed’’ is a great advantage for our clients. Specifically, we are remunerated for the amount of liquidity that we recover.

In terms of Procurement, the Procurement department is usually in the lead during the contracting phase. However, after this phase a lack of insights and active control exist in how suppliers perform in processing invoices. Through our approach and the methods that we use, you could say that we are educating the suppliers of our clients in processing invoices correctly. Besides, it creates awareness that our clients are performing Accounts Payable Recovery Audits on a structural basis.

5. How does the customer project phase looks like from start till actual results?

Our recovery analysis consists of six project phases and requires approximately four months to conduct. The first results will be visible after only eight weeks. Below the project planning can be found.

6. How fast can customers experience the impact of SpendLab Recovery after implementation?

The average lead time of a recovery project is four months. The first payments from suppliers, however, will be collected after just two months. SpendLab is only charged based on the payments that are received, on the basis of no cure no pay.

7. What is the biggest challenge you ever experienced with SpendLab Recovery?

In the very beginning of Account Payable recovery audits, research was done based on spreadsheets. In the past five years we have invested significantly in our IT-platform APRA®. Nowadays, we have a team of more than twenty employees in the Technology department that are continuously developing software for Recovery. The transformation from manual research to automated research in combination with Machine Learning and Artificial intelligence has been the biggest challenge within SpendLab, and could not have been possible without the team and the investments that had to be made.

It has been a challenging choice to completely focus on IT development. However, this choice has enormously helped our organization in optimizing our service, identifying anomalies in Accounts Payable data, and remaining thought leader in the field of Accounts Payable recovery.

8. What have been the latest successes around product development?

Remote and safe access to ERP systems. Whereas our Data Collections team used to literally fly all around the world to align data requirements and to safely collect the raw data of the Accounts Payable that we need for our recovery audit, we can now align and safely collect (ISO:27001; ISO:9001 certified) the data remotely with and from our clients. SpendLab is now able to conduct a complete Accounts Payable recovery audit on a remote and digital basis. Since March 2020, COVID-19 has only accelerated this level of digitization and the service that we provide for our clients.

Moreover, as an organization we have completely changed our way of working. We now work from our platform on a digital and remote basis. Just like every success, this could not have been achieved without challenges.

9. Can you give us an outlook on the product developments and tell us a bit more about your vision?

We have gone from subsequent recovery analyses over five financial years to periodical visualizations. Together with our clients we have developed a complete recovery service, which we can utilize several times a year over the current financial year. Instead of conducting subsequent recovery audits, we are now aiming to provide our clients with a subscription agreement in which some of our clients even take care of the recovery themselves.

Despite that organizations keep optimizing their internal -and external processes, there will always be errors in processes. Based on the collaboration with and input from our clients, we have invested in optimizing our compliance -and risk reports. We can now offer the visualization of these reports in Power BI, which allows our clients to have live and real-time insights in the Accounts Payable.

10. The world is always changing, how does SpendLab Recovery stays one step ahead of its competitors?

SpendLab has always chosen to conduct Accounts Payable recovery audits only, and we are now an absolute leader in spend justification. This leadership role allows us to partner up with top leading international organizations and to discuss the current and future capabilities that they require from our recovery service. By commencing structural dialogues with leading organizations and system suppliers we challenge tomorrow’s needs in Accounts Payable solutions.

 

Interested in a free SpendLab Recovery demo and see how your company can benefit?

Contact us!

 

SpendLab Analyzer: Each invoice is tracked at VAT cost line level throughout the entire administration

| 04-11-2020 | treasuryXL | SpendLab Recovery |

Last May, we welcomed Spendlab Recovery as our Premium Partner, in order to provide our treasury community with expertise in the field of Liquidity, Accounts Payable and Risk Management. SpendLab is the Dutch market leader in spend justification. The company is a former spin-off from the Dutch government with a 98 year old heritage in procurement. It currently specializes in generating liquidity for clients by analyzing -and identifying anomalies in accounts payable data. By having insights in the accounts payable and being able to recover unjustified liquidity, treasurers will be able to identify and control (liquidity) risks in their vendor data. In this article, the focus lies on the role of VAT.

Specific VAT regulations for small caravan sites, VAT application on invoices within the Social Domain or system integrations after municipal mergers. “Every municipality has specific characteristics and risks in VAT processing,” says André Weitjens, VAT manager at SpendLab and specialist in financial administrations and applications. “The insights and experiences from a municipal project are validated and made applicable for subsequent projects. Also with regard to the interpretation and application of the changing VAT regulations, it is the combination of data research and tax expertise. ” (Blog continues in Dutch)

De grootste uitdaging wordt gevormd door het juist inregelen van de btw-tabel binnen de financiële applicatie. Zeker omdat deze tabel de ingeregelde btw-regelgeving automatisch toepast bij de verwerking van een inkoopfactuur. Als gemeente moet je exacte kennis hebben van de in beweging zijnde btw-regelgeving om dit correct binnen de btw tabel te vertalen. Daarnaast zorgt de variabele stroom van inkoopfacturen, welke via de workflow aan budgethouders ter codering en goedkeuring wordt aangeboden, vaak voor kwetsbaarheden in de btw-verwerking. Budgethouders richten zich op de inhoud van de factuur en zijn zich om die reden veelal niet bewust van de gekozen btw-verwerking bij het coderen van de factuur. Veelvuldig wordt de btw hierdoor onterecht kostenverhogend geboekt.

SpendLab Analyzer

De meest genoemde reden om de SpendLab Analyzer® in te zetten is om zeker te weten dat de btw-verwerking te vertrouwen is. Wij hebben een enorme databank opgebouwd waar alle btw-problematiek wel voorbij is gekomen. Specifieke btw-regelgeving uit hoofde van het BCF, het van toepassing zijn van een mengpercentage, de keuze voor ondernemer of overheid, niet of verkeerd verlegde btw. Veel regelgeving vraagt om specifieke keuzen binnen in een financiële applicatie, welke zich door de toenemende digitalisering niet eenvoudig laat controleren.

De SpendLab Analyzer® beoordeelt de inregeling van de relevante btw-regelgeving bij een gemeente op basis van jurisprudentie, belastingexperts en gevalideerde kennis uit andere projecten. De opdrachtgever is in principe de kennisexpert, maar als we vaststellen dat de btw-boekingen optimaler kunnen, dan adviseren we onderbouwd met de jurisprudentie en of motivaties vanuit andere projecten. Interessant is dat niet de grootboekrekening of kostenplaats het startpunt is, maar de totale boekingsdata in relatie tot boekingsregels. Het grootste verschil met reguliere controles is dat de SpendLab Analyzer® de btw verwerking volgt vanaf het moment van de eerste vastlegging tot de betaalbaarstelling, om vervolgens de data analyse op te bouwen.

De SpendLab Analyzer® beoordeelt integraal alle kostenregels van de facturen op een juiste btw-verwerking. Elk btw bedrag dat onterecht kostenverhogend is geboekt of mogelijk onterecht in aftrek is genomen of is gecompenseerd wordt inzichtelijk gemaakt. Dit gaat al snel over tienduizenden btw-regels bij een kleine organisatie. Handmatig is dit niet meer te doen. Gemeenten en hun accountants doen dit op basis van steekproeven, terwijl SpendLab alles fijnmazig op basis van honderd procent van de factuur data analyseert.

De belastingdienst is voornemens om dergelijke integrale controles in de toekomst zelf vorm te geven, en dat is precies wat wij al doen. De SpendLab Analyzer® gaat vijf volle boekjaren terug en beoordeelt ook de betaalbaarstelling. Zo werkt SpendLab met zijn integrale controle complementair aan de fiscalist en accountant. Zo is een gemeente ook nog eens proactief en zeker van een juiste verwerking van btw in de toekomst.

 

 

Top 4 most useful Key Performance Indicators for Accounts Payable

| 14-10-2020 | treasuryXL | SpendLab Recovery |

Nowadays all businesses use Key Performance Indicators (KPI’s) to measure the performance of internal -and external processes and thereby operational success. In the Accounts Payable unit of an organization this should not be any different.

‘If it cannot be measured, it cannot be managed’. Establishing and tracking KPI’s in the Accounts Payable department enables an organization to identify weak processes and operational inefficiencies. A KPI should be specific, quantifiable, time-bound and should be agreed upon by all project members. KPI’s need to be measured on a regular basis to ensure that the Accounts Payable process matches with the goals set by the organization and to identify areas of improvement.

In general, but also in specific cases such as mergers and acquisitions, organizational restructuring and new technology implementations (e.g. Robotic Process Automation, Artificial Intelligence, and Machine Learning) it is imperative to make use of Accounts Payable KPI’s that enable organizations to measure the impact of changes on the Accounts Payable process.

In the last couple of months, SpendLab Recovery has requested their clients to share the KPI’s that are most important to them in the Accounts Payable department. From the reactions that we received, we have compiled a list of KPI’s that secure the most meaning from available data, which can be used to strengthen the Accounts Payable process.

  1. The cost per processed invoice

The cost per processed invoice is the cost of processing one invoice in the (entire) organization. This cost can vary depending on the type of business as well as the factors that are taken into account. Important to understand is the fact that the cost per processed invoice may appear to be low, just because the hidden costs that negatively impact the profit have not been taken into account.

One example related to hidden costs is an organization that has a high level of manual invoice processing. This type of organization needs to take into account labour- and operational costs, the risk of human errors, and lengthy processes. In addition, the cost per processed invoice needs to take into account the time spent by employees in the Accounts Payable process. Several other contributors to the cost per processed invoice are systems and equipment, overpayment, errors, lost supplier discounts as well as audit costs.

A second example encompasses invoices that are sent by suppliers, but do not meet the requirements set by the client. This inefficient process results in a chain reaction that increases the number of activities that have to be conducted. Consequently, the costs of processing an invoice will increase.

Over the past 10 to 15 years, the processing costs of an invoice have decreased significantly. Whereas the costs of processing an invoice in the Accounts Payable department ranged between $20,00 and $30,00, some organizations are now able to process an invoice for $10,00, and top performing organizations for $5,00, according to the results of a survey published in 2018.

Accounts Payable departments can reduce the manual handling of invoices by implementing and utilizing paperless Accounts Payable automation software.

  • The lead time per processed invoice

The cost of processing invoices increases when an organization processes invoices slowly. The lead time per processed invoice in the Accounts Payable department tracks the total time that it takes for an invoice to be received, processed, finalized, and made ready for payment in the financial ERP system. Processing speeds vary based on the size as well as the industry an organization works in.

If a specific Accounts Payable automation solution manages the total process, starting from receiving the receipt to posting in the ERP, this metric can easily be tracked throughout the system. However, if process steps happen outside of the Accounts Payable automation solution, it might get tricky, but still an exceptional way to measure the overall efficiency of processing invoices in the Accounts Payable.

The key to achieve a reduction in the lead time per processed invoice is automation. By mapping the Accounts Payable process, removing manual process steps and implementing an automation solution that takes on the workload in the back-end of the organization, organizations are able to save valuable time and ensure that the resources in the Accounts Payable can focus on value-adding activities.

  • The number of invoices processed per employee per day

One of the KPI’s that should not be neglected is the number of invoices that an Accounts Payable employee processes on a daily basis. This KPI provides key insights into the strengths and opportunities in the Accounts Payable department.

There are a significant number of negative downstream effects in relation to low performers in this KPI. For instance, until an invoice is processed, approved and filed into an ERP system, other departments are not able to assess the development and/or stage of the process the invoice is in.

This lack of insights and therefore visibility leads to organization-wide problems such as missed supplier discounts, late payment fees, mismanaged cash flows, and overall poor relationships with suppliers.

Optimizing this KPI is therefore a must.

  • Percentage of invoice exceptions

Invoice exceptions are a plague for Accounts Payable departments and therefore organizations in general. The result of invoice exceptions is twofold. First of all, invoice exceptions cause a reduction in the processing efficiency, having to discuss and agree on the invoice with peers and, in the worst case, creating disputes with purchasers and suppliers. Secondly, invoice exceptions drag down employee morale, especially when the exceptions have to do with structural problems that are related to the workflow. A few examples of invoice exceptions are the following: discrepancies in the purchase order (e.g. wrong supplier codes, receipt dates or zip codes), incorrect, duplicate and missing purchase orders and non-purchase orders.

The bottlenecks that are a result of invoice exceptions are able to bring entire Accounts Payable departments to halt. Being able to reduce the impact of discrepancies requires organizations to track and control invoice exception rates.

About SpendLab Recovery

SpendLab Recovery is the Dutch market leader in spend justification. The company is a former spin-off from the Dutch government with a 98 year old heritage in procurement. It currently specialises in generating liquidity for clients by analysing -and identifying anomalies in accounts payable data.

In terms of certification, SpendLab is GPR compliant and is ISO-certified for Information Security Management (ISO/IEC 27001) and Quality Management (ISO 9001:2015).

By having insights in the accounts payable and being able to recover unjustified liquidity, treasurers will be able to identify and control (liquidity) risks in their vendor data.

For more information visit SpendLab.com

 

treasuryXL announces partnership with SpendLab Recovery

| 28-5-2020 | treasuryXL | SpendLab Recovery |

VENLO, The Netherlands, May 28, 2020 – treasuryXL, the independent community platform for everyone who is active in the world of treasury, and SpendLab Recovery, the Dutch market leader in spend justification that is currently in the process of expanding internationally, today announced the signature of a premium partnership.

As a marketplace, treasuryXL will offer SpendLab Recovery market commentary and insight to its audience. Offering a continuous flow of relevant treasury content, making treasury knowledge available, results in treasuryXL being the obvious go-to platform for its’ audience. SpendLab Recovery will have a prominent role in the Treasury Topic environment with coverage in Operational Risk, Liquidity, Treasury Software and Fraud & Cybersecurity.

SpendLab Recovery generates liquidity for clients by using their Accounts Payable Recovery Analyzer (APRA). APRA is a technology platform that combines over 400 algorithms, Big Data, AI, and machine learning, and audits all the raw Accounts Payable data in any ERP system to identify anomalies. Several examples of anomalies include but are not limited to: undue payments, double invoices, overpayments, and overpaid VAT. Over the past years, SpendLab has analysed over 321 million invoices and has recovered more than €200 million EUR for its clients.

treasuryXL and SpendLab Recovery strive for a fruitful partnership where its’ audience are top of mind making sure that (potential) clients are always up to date with the latest news and events in their field, benefit from a comprehensive range of innovative solutions, services and experts.

According to Iris Lopes, Managing Director at SpendLab “Nowadays, there is more and more demand for concrete and useful data, especially data that can be used to empower financial decision-makers. We as SpendLab focus specifically on the accounts payable of organisations and can contribute to generating liquidity, providing complete insights into accounts payable data, and reducing any related risk. Our goal of this partnership with treasuryXL is to share our profound accounts payable knowledge to the Treasury community and to gain a better understanding of the processes and difficulties that financial decision-makers have to deal with.”

“SpendLab Recovery is a great addition to our treasury community and offers unique services. In these COVID-19 times businesses have an even stronger focus on liquidity than before. SpendLab Recovery creates transparent insights in accounts payable. These can be the basis for recovering unjustified spendings and will create the control of future risks. Especially in times where treasurers are expected to connect their specialty with that of their colleagues, the solution of Spendlab enables very visible results of cooperation”. says Kendra Keydeniers, Community & Partner Manager at treasuryXL.

About treasuryXL

treasuryXL started in 2016 as a community platform for everyone who is active in the world of treasury. Their extensive and highly qualified network consists out of experienced and aspiring treasurers. treasuryXL keeps their network updated with daily news, events and the latest treasury vacancies.

treasuryXL brings the treasury function to a higher level, both for the inner circle: corporate treasurers, bankers & consultants, as well as others that might benefit: CFO’s, business owners, other people from the CFO Team and educators.

treasuryXL offers:

  • professionals the chance to publish their expertise, opinions, success stories, distribute these and stimulate dialogue.
  • a labour market platform by creating an overview of vacancies, events and treasury education.
  • a variety of consultancy services in collaboration with qualified treasurers.
  • a broad network of highly valued partners and experts.

About SpendLab Recovery

SpendLab Recovery is the Dutch market leader in spend justification. The company is a former spin-off from the Dutch government with a 98 year old heritage in procurement. It currently specialises in generating liquidity for clients by analysing -and identifying anomalies in accounts payable data.

In terms of certification, SpendLab is GPR compliant and is ISO-certified for Information Security Management (ISO/IEC 27001) and Quality Management (ISO 9001:2015).

By having insights in the accounts payable and being able to recover unjustified liquidity, treasurers will be able to identify and control (liquidity) risks in their vendor data.

For more information visit SpendLab.com