$84 Million Missing?

Situation

Unable to account for $84 million, the automation group of a healthcare services company had some searching to do.  The division had grown faster than its own accounting system and now it had millions in accounts receivable that it couldn't verify, much less collect.  While it was selling plenty of systems to help 25,000 clients avoid making prescription errors, it wasn't realizing all the benefits of those sales.

Solution

The project started with only one Kforce consultant, but as that person dug deeper, the company realized it had a larger task on its hands.  Eventually a dozen consultants reviewed historical and sales records to determine which contracts had been billed, which needed to be, and which simply required collections.

Outcome

After 18 months on the job, Kforce's consultants had whittled the unaccounted balance to $10 million.  In the process, they helped create and install systems to prevent similar difficulties from recurring.  Scanning all the contracts as part of the investigation also had side benefits by making it easier for the whole company to track business.  The task now largely complete, the company is looking to keep some of the Kforce consultants as permanent employees.

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