Ray Dorney, Director, Rockford Associates, celebrates the company’s achievement of recovering over £100 million overpayments as it marks its 20-year milestone
2021 marks an important milestone for Rockford Associates as we celebrate our 20th anniversary. This 20-year milestone gives us a chance to reflect on our past achievements as well as preparing for the road ahead.
The new normal
Rockford Associates has weathered the storms of two recessions in 2001 and 2008 and is working through the current Covid-19 challenge. Confident for the future ahead, it is proud to have reached the 20 year mark with valued Clients whose “new normal” may be home workers and/or office based Accounts Payable Teams.
Accounts payable review specialists
Since 2001 on behalf of private and public sector clients Rockford Associates have;
- Completed over 750 Reviews
- Analysed billions of private and public tax-payers spends
- 100% Success Rate
- Recovered £100m overpayments
- Reclaimed £1,000,000+ in 20/21 for Clients with own Forensic software
The core service, the analysis of payment records to aid the identification of purchase ledger overpayments and their subsequent recovery from suppliers. The review consists of an analysis 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, 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.
All our major Public and Private Sector clients invest significant trust in us by sharing their Company transaction data and we take that responsibility very seriously.
Rockford Associates is now accredited by Cyber Essentials Plus to provide all our clients with a positive reassurance they are working with a credible and Professional Recovery Audit Partner that has an ongoing commitment to ensure Rockford Associates is at forefront of security standards.
All our reviews are now completed 100% remotely, offering the same levels of service recoveries whilst reducing our carbon footprint and impact on the environment.
Rockford Associates have created an infrastructure to deliver community benefits and social value.
We work with our clients to maximise social, economic and environmental wellbeing of local communities by;
- Considering social value as part of our procurement process.
- Creating a social value fund by donating a percentage of each audit completed.
- Supporting local economies through buying locally and building local partnerships.
- Committing to protect our local environment through minimising waste and energy.
- Measuring the impact of our activities to understand how much social value we are creating.
Crown Commercial Services – Spend analysis and recovery services II framework.
Rockford Associates is a procurement compliant provider of services under the Crown Commercial Service’s (CCS) ‘Spend Analysis and Recovery Services II’ framework, Ref: RM3820.
The framework means that Public sector organisations across the UK can access the most effective forensic analysis services, to recover historical overcharges or over-payments from their supply chain. Recoveries can be achieved quickly and simply via Direct Award through the Framework with minimal internal resource.
Our clients include commercial organisations operating in all market sectors, as well as County, City and Metropolitan Borough Councils, NHS Trusts, Housing Associations, Universities, Charities and Government Departments.
Our Client survey results (Feb 2021):
94% – Rated Very Professional
91% – Agreed of Value
100% – Agreed Non-Disruptive
91% – Agreed another review likely
100% – Would recommend service to others
“I would positively recommend Rockford risk free AP review services to other Further Education Establishments and any Public or Private Procurement and Finance Professionals. The service is a compelling proposition because it is entirely risk free and is invaluable to organisations/businesses who are seeking to recover monies and preserve or protect positive cash flows during challenging times.” Daniel Barry, MCIPS Chartered MInstLM, Head of Procurement, Royal Holloway, University of London (RHUL)
After 20 years of longevity, Rockford’s name is synonymous with Quality. During the Covid challenge of 2020 it excelled in its quest for continuous Quality improvements. It migrated its signature recovery techniques and robust processes to continue to deliver 100% of its risk-free review services on an entirely remote working basis without disruption to Clients. Rockford is a socially responsible Employer and is accredited under the Voluntary Living Wage Foundation and delivers proven social and economic value to the local and wider community. Rockford holds the Cyber Essential Plus Certification so all Client data is secure and is working towards ISO 9001 and ISO 270002 Quality Standards.
Find out more
To find out more about how we assist Public and Private sector organisations with remote risk- free Accounts Payable Reviews please contact:
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Rockford Associates – recovery audit specialists
Rockford Associates is a leading professional firm of recovery audit specialists, working across the private and public sectors.