Profit Recovery is a business expense reduction firm that has saved clients over $3 billion in costs through savings assessments, supplier management, and procurement strategies. The company serves FORTUNE 1000 companies, law firms and private equity firms in North America.
The company conducts a profit recovery audit, which is a rigorous review of a company’s accounts payable data files for duplicate payments and overpayments that would be missed by the regular account payable department. The audit firm will then recover these funds for a fee.
Unlike some debt collection agencies, American Profit Recovery does not own the debt they are collecting on behalf of. Instead, the debt has been purchased from another creditor (often for pennies on the dollar or 1/10th of its original cost). When you pay the debt off, a collections account will still appear on your report. This will hurt your credit score and impact your ability to get loans or other financial opportunities in the future.
A profitable recovery audit is an excellent solution for companies who have significant amounts of duplicate payments or overpayments that could go undetected through the normal accounting systems. It is also a good idea for companies that have recently gone through significant organizational change or mergers.
Grieving is an exhausting process, and it is essential to take care of yourself during this time. Try to eat well and get enough sleep each night. Staying physically active, whether it is a walk around the neighborhood or joining a local SilverSneakers class, can also help. Lean on friends and family who support you. And if you have a religious faith, embracing its mourning rituals can provide comfort as well. If you don’t have a religious practice, seek out a support group for people who have experienced similar losses. This can be a safe place to talk about your emotions and feelings with others who have had the same experiences you are having.