Rockford Associates

Rockford Associates is the UK’s leading professional firm of recovery audit specialists. Since 2001 we have conducted over 700 audits and recovered over £100m on behalf of private and public sector clients.

We work across the private and public sectors and our clients include commercial organisations operating in all market sectors, as well as County, City and Metropolitan Borough Councils, NHS Trusts, Housing Associations, Universities, Leading Charities and Government Departments.

Rockford operates on a no recovery-no fee basis at no cost or risk to our clients.

Crown Commercial Service – Debt Resolution Services Framework. Ref: RM6226

Rockford Associates has been appointed on to Crown Commercial Service's (CCS) Debt Resolution Services Framework RM6226. This is designed to bring together a range of services into a single commercial agreement. and is aligned with the cross-government debt management strategy, which aims to provide a more consistent and integrated approach, improving capability and ensuring taxpayers money is spent in the most efficient and effective way.

Recovery Audit Services

Our Accounts Payable audit consists of a review of historic payment transaction data. We use our proprietary in-house forensic software to uncover overpayments resulting from:

• Goods or services being paid for twice
• Payments being made to the wrong supplier;
• Payments being made in the wrong currency;
• The by-passing of existing software duplicate checks;
• The same invoice being paid across different Accounts Payable systems, countries, divisions or ledgers
• Credit notes being paid as invoices
   

Our Pathfinder software produces over 18 audit reports, each looking to identify overpayments using different criteria and algorithms. Where applicable, our software will look for overpayments across data from different entities, countries, divisions and systems within our client organisations.

We will also identify and investigate those suppliers who, from our previous experience with other clients, are most likely to have hidden or removed overpayments.

Annual / Biennial AP Reviews

As part of Rockfords ongoing plans to optimise recoveries and deliver innovative options, we have developed a remote Annual / Biennial accounts payable audit solution.

• 4 Year Contract
• 3 Month Cancellation
• Same Pricing model
• 1% - Social Value Contribution
   

Our multi-year deal process delivers a variety of benefit to the client, including;

• Rapid recovery of funds
• Quicker identification of Systematic Errors
• Higher percentage of recoveries
• Regular Independent Analysis ensuring Accounts Payable Systems are working well
• Contingency based risk-free agreement
• Applicable to client homeworking or hybrid work models
• The real potential to eliminate ongoing licence costs associated with Duplicate software
• Prompt Due Diligence Pre and Post Acquisition and Mergers
• Effective Validation Pre and Post Finance System Software and People Changes
   

How We Work

Our auditors are highly experienced and self-sufficient they undertake a wide range of recovery work from identification and verification of potential overpayments and savings through to final recovery with minimal disruption and disturbance to our clients.

Data Collection

In preparation for an audit, we request historic accounts payable data from our clients. Rockford has a detailed knowledge of all financial system software. Our Data Team are therefore able to offer precise knowledge and support, making the data extract exercise for our clients a simple and quick extract-only task.

We will then process our client data through our proprietary software, preparing the reports from which our auditors can prepare for an audit.

Audit Recovery

Following an initial introduction meeting, our auditor will action the supplier circularisation and
undertake all work necessary in contacting suppliers to confirm and agree any potential recoveries. All agreed recoveries will be fully documented and progressed through to recovery. Our auditor will hold weekly meetings with our client to report on progress of the audit and recoveries.

Supplier Master Reports

Reports designed to assist clients in data cleansing their Supplier Master File by identifying duplicated or incomplete supplier information, common causes for overpayments. The reports also have potential to identify fraudulent supplier accounts.

Transaction Analysis Reports

A report showing detailed Management KPI's, Benchmarking and Spend statistics.

Findings and Recommendations Report

At the end of an audit, we will present our Findings and Recommendations report including;

• Summary of recoveries by error type
• Detailed Internal Control report to prevent recurrence of errors
• Recommendations for potential future savings and cost management
• Recommendations for process improvements to enhance future controls
• Complete listing of recoveries made
   

Post Audit Review and Client Survey

As part of our ISO9001 quality processes we complete a post audit review to ensure we have met client expectations and to document the outcome of the audit. This includes a Client Survey that we publish on our website.

94% - Rated Very Professional
91% - Agreed of Value
100% - Agreed Non-Disruptive
91% - Agreed another audit likely
100% - Would recommend service to others
(Survey Update : July 2024)