Profit Recovery is a firm that conducts profit recovery audits and recoups lost funds from invoice processing errors. They perform a detailed review of a company’s accounts payable data files for clues to lost funds due back to the enterprise, such as duplicate payments, overpayments or the failure to take credits or deductions. They then recover these funds for a fee.

Any business that is experiencing significant organizational change (such as an acquisition) or has a new accounting system in place should consider hiring a profit recovery firm to examine their accounts payable data to identify hidden losses. In addition, companies that rely heavily on purchasing discounts and complicated pricing schedules or are subject to multiple sales tax jurisdictions should also consider working with a firm.

Companies that have experienced a high volume of customer churn should also consider using revenue recovery software to recoup uncollected payments. However, the best approach is to use preventative tools to reduce churn in the first place. This will save the time and expense of recovering these payments through demand letters, emails, or phone calls.

While reducing customer churn with revenue recovery software and other churn management tactics is effective, it’s not practical to contact every single involuntary churner. For example, customers who cancel because their credit card is expired or they lack funds are not worth the effort and cost of collecting unpaid balances. Rather than trying to reach every involuntary churner, a better solution is to focus on customers who show early signs of churn and offer them a discount.

A job at American Profit Recovery Collection Agency offers a competitive salary and an attractive benefits package that meets or exceeds the national average for similar positions. This includes flexible scheduling, unlimited overtime, earned PTO, and more. The company also pays for travel and other expenses. However, settling a debt with this company will still appear as a collections account on your credit report. This can damage your score and make it more difficult to obtain credit in the future.