Overpayments from Reconciliation Errors
Definition
Common in events with variable costs; failure to catch supplier overbilling leads to direct cash outflow without recovery.
Key Findings
- Financial Impact: AUD 2,000-15,000 per event in overpayments (1-3% of supplier invoices)
- Frequency: Per supplier invoice with discrepancies
- Root Cause: Human error in 3-way matching of PO, receipt, invoice
Why This Matters
The Pitch: Events Services in Australia 🇦🇺 overpay AUD 2,000-15,000 per event due to reconciliation mismatches. Automated 3-way matching prevents this overrun.
Affected Stakeholders
Accounts Payable Manager, Vendor Relations
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
Unbilled Services & Lost Invoices
Delayed Invoice Verification
Audit Failures from Poor Records
Superannuation Guarantee Shortfalls from Payment Delays
Delayed GST/BAS Lodgement Penalties
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