How to Get Profit Recovery For Your Company

Profit Recovery is a company that helps its clients save money by performing an audit of their accounts payable data. The firm examines each payment to find funds that are owed back to the business through duplicate payments, overpayments and unclaimed credits or deductions. The firm then recovers these funds for a fee. Typically, companies that are subject to significant financial loss due to fraud or from mergers and acquisitions are candidates for a Profit Recovery audit.

Companies that have a lot of purchase transactions in a high-speed environment are likely to need Profit Recovery services. These types of businesses often experience frequent price changes, varying discounts and pricing schedules and complex sales tax jurisdictions. These variables increase the risk of duplicate or inaccurate disbursements that are not caught by standard accounting systems audits. Companies that have undergone recent mergers or acquisitions, or that have experienced significant changes in their accounting systems, are also good candidates for a Profit Recovery audit.

Another way to try to recover lost funds is through private class action lawsuits filed against companies that have been defrauded or that have suffered from financial loss due to corporate bankruptcy. Checking with the Securities Class Action Clearinghouse can help investors determine whether they are eligible for such suits.

Finally, investors can attempt to recover funds from companies that have gone bankrupt by participating in a class action lawsuit or by receiving compensation from the company through its bankruptcy reorganization plan. Investors should always carefully review investment opportunities before investing, and learn how to spot fraudulent pitches. They should also contact their broker to determine if they have any outstanding equity balances that may be recovered from the company that went bankrupt.