How Procurement Prevents Overcharges
Take Control with Spend Management
If you don’t remember the last time you were overcharged, chances are it was more recently than you think. Just at grocery stores alone in the US, scanner errors can cost consumers 1 billion to 2.5 billion dollars.
A Consumer News study showed the most common issues arrive from sale items not programmed in the register, scales that charge for the plastic packaging instead of just food items, and tax charges on non-taxable items. In fact, just this year, six North Carolina grocery stores had to pay fines related to excessive price-scanning errors.
While many of us may never realize that we are overcharged, we likely experience it often at the supermarket. Sometimes it may only be by a few cents, but, of course, those charges eventually add up.
The same concern related to procurement and business purchasing has much bigger consequences. Where a consumer may suffer the loss of a few dollars a year in grocery overcharges, large businesses making purchases can lose literally huge amounts of money either through clerical errors or even fraudulent charges.
Protecting yourself from grocery overcharges can be very difficult, requiring you to remember each price and check at the register for differences. Fortunately, for business purchasers, there is an easier way. E-procurement empowers buyers with spend data and information that allows them to take control of their spending and charges.
For example, with 3-Way Checks, the procurement system uses the data from the purchase order, goods receipt, and invoice to ensure the data is matching. Any mismatch alerts the user to inquire further before making an inaccurate payment.
Vroozi allows users to take control of their spending. If you would like to know more about avoiding overcharges, fraud, or how to use 3-way checks, request a live demo today.