| 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 […]
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.
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.
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.
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