What is Bill Validation?
Validation is when your invoice is reviewed to ensure accuracy and to prevent fraud. The process of reviewing Bill Validation can be done in one of two ways: manual or automated. If your invoice contains errors such as improper dates, numbers, formats, etc., then it is imperative that your bill is reviewed and errors are remedied in order to maintain correct payment records. Improper dates in your bill may result in your company not receiving payment on an invoice and this could lead to penalties and/or fines from your business’s suppliers and therefore, not making a sale. Using a service that specializes in Retrospective Validation ensures that your Bill Validation will be reviewed by trained professionals who will find any errors and verify the correct date(s) using proper documentation and electronic forms.
For businesses with more than one supplier, manual review is often not enough to determine which supplier is responsible for the incorrect bill. In such cases, a professional audit service will use data to match the supplier to the invoice for confirmation and to also determine whether the supplier is liable for payment. With the help of professional audit services, you can easily avoid being billed twice for the same invoice or having to pay penalties for incorrectly paid invoices.
How Do Retrospective Validation Services Help Businesses?
By using a service that specializes in Retrospective Validation, you can eliminate unnecessary bills from bouncing because of inaccurate invoices, even when you were not able to verify the bill’s validity. A good service should provide customer satisfaction surveys to determine the percentage of non-payments, which gives you an idea of how you’re going to improve your audit techniques in the future. In addition, you’ll be able to determine which invoices are going back to the company or to the correct department. With the right knowledge, it’s possible to easily reduce your risk of getting yourself into a sticky situation that may cause you to pay too much for your invoices and not get what you really deserve.
What Does a Bill Validation Service Do? A good service will first verify that the bill is valid. Then, it will investigate the details of the energy efficiency claim, such as the efficiency rating and the amount of credits. Finally, the service will send its expert team to your premises to verify the claims made on the invoices.
Why Should You Use a Bill Validation Service?
The most important benefit of using a bill validation service is the accuracy of the results obtained from the process. The bill validation process verifies the bill’s accuracy and validity, and not just the overall financial impact. It is important for you to understand how you got overcharged and what steps you need to take in order to avoid being overcharged in the future. With a reputable company by your side, you can rest assured that these things will be taken care of. They can also ensure that the bills are paid and sent on time, which can give you peace of mind even after an unexpected bill from an unexpected supplier.
What Are the Benefits of a Historic Bill Validation Audit? A historic audit, which includes both a comparison to historical data and a comparison to the current market, provides a detailed account of how your energy usage has changed over the years. This information can help you plan for the future so that you know what you have to do to stay within your energy management plans. If you want to get into the habit of energy efficiency, there are many opportunities available to you when you have a good, solid bill validation service on your side.