What Is Profit Recovery

Profit Recovery is a company that conducts a review of a business’s accounts payable disbursements in an attempt to recover funds due back to the enterprise because of duplicate payments or overpayments. They typically charge a fee for their services. Investors can also try to recover money lost to fraud or bad investments by filing a claim with the Securities Class Action Clearinghouse.

Using a profit recovery firm is appropriate for companies that are at risk of making duplicate payments due to inconsistent accounting systems, frequent changes in discount and pricing schedules, complicated sales tax jurisdictions and merger or acquisition activity. The firms employ specialized tools and technology to perform a complete review of all account payable disbursements to find such problems. The firm will also provide suggestions for correcting the underlying issues that caused the duplicate payments. In addition to recovering the money from the suppliers, companies will need to make a commitment to prevent future problems through controls, processes and automation.

It is important to be able to grieve your losses healthily, and that means surrounding yourself with people who can be supportive emotionally. Draw comfort from your faith, or participate in spiritual activities that are meaningful to you, and seek the companionship of others who have experienced loss as well. It is also helpful to create rituals and memories that commemorate the life of your loved one so you can tangibly process the death in a way that feels healthy for you. This includes talking openly with friends and family, and if necessary, finding support groups in your community. In this way you can process your grief and help yourself heal.

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