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- Billing errors account for 0.10% to .020% of lost revenue-or one to two million in lost revenue for every billion in payments or receipts. Automation, once thought to be the solution, has done more to proliferate than correct the problem. The underlying problem is complexity. The more complex the transaction, the more likely errors will occur. However, most companies look for "low hanging fruit"-duplicate payments, open credits, and cash discount errors, while neglecting to review the contracts and agreements against which these payments are made.
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- Released: August 17, 2012
- Length: 4 pages
- Format: PDF (586 kb)
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