Webclass 118: Company spendings under scrutiny - 3 ways to immediately save money in procurement

Q1. If your company has automated internal controls, then are your external audit fees likely to be higher or lower?

Lower

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Higher

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Q2. What percentage of organizations expected an increase in external audit fees in 2021?

62%

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33%

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Q3. Does the RemQ system work in near real-time or does it run monthly/ quarterly?

It can run in near real-time for certain events.

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It runs in real-time for all controls, including those relating to ageing balances.

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Q4. Can the RemQ system send you an automated email alert about a transaction that needs to be reviewed?

Yes

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No

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Q5. Can the RemQ system allow the end-user to block a transaction from within RemQ?

Yes, because RemQ is a SAP add-on.

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No, you need to go into SAP and do the block.

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Q6. Can the RemQ system allow you to click on a transaction number from within the system in order to see all the details?

Yes

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No you need to go through a SAP transaction code

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Q7. How many controls does the RemQ system ship with?

100

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50

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Q8. Can the RemQ system compare to external data sources, such as Sanctions lists, lists of Politically Exposed Persons, FBI, Interpol?

Yes

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No, because it is embedded in SAP as a SAP add-on, so it can only work on SAP data.

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Q9. How can RemQ help you to have mitigating controls for cases where the same person has access to create a supplier and create an invoice?

Block the invoice before it has been reviewed by another person.

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The RemQ system can only tell you the list of users that have too much access control, according to your separation of duties matrix.

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Q10. Why is it important to reduce false positives?

Because otherwise the internal control department will have too many items to review.

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Because otherwise there may be transactions that should have been reviewed that finally did not get reviewed.

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Q11. Why might you consider two invoices of a different value to be duplicate invoices?

Because the value difference is equal to that with or without VAT.

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Because the value difference is equal to the difference betweeen the purchase order original value and the value of the goods received.

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Q12. What are the fields that SAP checks for when it does the duplicate invoice check?

It depends whether or not the reference document number is filled-in and whether or not it is an FI invoice or a logistics invoice.

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Vendor number, external document number, document date, document value.

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Q13. Which function can we easily use in order to do fuzzy matching?

Levenshtein distance on name.

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Remove all numbers and special characters and organize in alphabetical order before comparing.

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Q14. What benefit might your company gain from paying early?

They might get a discount.

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They won't win any benefit.

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Q15. What other factor would make a vendor bank change more interesting in terms of risk?

If there is a payment just after the change and especially if the bank account is changed back after this payment.

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If there are no payments for the new bank account.

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Q16. Which tips did Jens give us for reducing false positives?

– Less false positives with rule-based rather than statistical/machine learning – Fuzzy matching can give more false positives – Correlation -for example time-dependency- can help us to see higher risk events – Exclusion of cases that have been cancelled – Exclusion of cases that are of a very low value – Exclusion list (for example intercompany, certain product types, etc).

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– Use machine learning in order to reduce false positives – Use fuzzy matching in order to reduce false positives – Use correlation – Include cancelled documents as they are of higher risk – Consider the sum of multiple low-value documents – Be sure to include intercompany and batch users as these often have a higher risk associated

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WC118 – Company spendings under scrutiny – 3 ways to immediately save money in procurement

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Webclass 118: Company spendings under scrutiny – 3 ways to immediately save money in procurement

admin June 9, 2026

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