Salitix’s accounts payable service helps suppliers identify and recover lost profits due to errors and discrepancies in their payment processes. By conducting a thorough review of invoices, payments, and VAT transactions, we uncover duplicate payments, unclaimed VAT, and unapplied credits, ensuring you don’t overpay for the goods and services you buy. This comprehensive approach not only improves financial accuracy but also strengthens overall financial control.
Our contract compliance service identifies and recovers any historical calculation errors, helping to both improve current margins and prevent future errors and leakages. By conducting a thorough review of supplier contracts and agreements, we can ensure you maximise profitability, cash flow and the performance of those agreements going forward.
Our aged debt service focuses on recovering overdue payments for suppliers, typically those exceeding 180 days, albeit this timeframe can be adjusted based on specific needs. The service addresses unauthorised deductions from sales invoices, often related to promotional funding, short deliveries, proof of deliveries, joint business plan funding, service level charges, derogation charges, and audit claims.
Our Early Settlement Discount (ESD) service meticulously reviews sales invoices and payment records to verifiy that ESD agreements are in place, discount percentages are applied correctly, and discount timings are adhered to. This thorough examination helps identify and recover any missed or incorrectly applied discounts, ensuring that you only pay for the financial benefits you have received.
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How independent, evidence-based audits ensure all agreements are adhered to.
“Salitix has provided Tilda with a comprehensive reconciliation that allows our business to identify trading errors and recover misallocated funds that would have remained hidden previously. The result is greater certainty, better insight and learning and improved margins.”
Tony Jones, Director of Sales, Tilda
“Salitix has worked with Finsbury Food Group for a number of years. During this time they have recovered a meaningful value of misallocated promotional funds that might have otherwise remained unidentified. They have also helped Finsbury to defend many retailer audit claims that may have otherwise been validated and paid. The service is discreet, professional, and effective, saving significant time that allows us to focus on prospective commercial goals rather than managing and settling what can be complex negotiations.”
Steve Hill – CFO, Finsbury Food Group
“Salitix removes unhelpful conversations from our commercial channels, identifies and recovers significant sums of investment that have been paid in error without recourse to commercial channels, and helps our business to recover aged debts that would have otherwise been written down.”
Dan Grills – Commercial Finance Director, Premier Foods
“I inherited Salitix from my predecessor, and have been impressed with the results delivered by the Salitix team. The historical trade claims defended and recouped on our behalf amount to a meaningful sum and % contribution to net margin, whilst also saving significant time in the Coty team in defending the claims directly. A significant added value service, in addition to a great partnership.”
Alison Day – CFO UKI & ANZ, Coty Inc.
“Salitix has worked with AG Barr for almost 8 years and has helped my team to improve their margins and identify weaknesses in trading practice.”
Paul Barker – Sales Director, A.G. Barr PLC
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