Meridian Cost Benefit Ltd
Latest News and Developments


Royal Brompton and Harefield NHS Foundation Trust achieves over £0.3m saving (gross)

15 November 2018

The Trust wanted to look at all possible areas of possible overpayments to suppliers. In particular, they
wanted to undertake a purchase ledger recovery audit in order to identify unused credits on suppliers’
books and any duplicate payments made.

They were keen to engage with a specialist supplier who had a reputation for being light touch and with a
reputation of recovering the maximum amount.

They were not only keen to recover as much as possible but also wanted to check that their procedures
were working effectively.

They had not undertaken such an audit for a number of years. 

Read full case study

--------------------------------------------------------------------------------------------------

Over £1m secured by a UK Shared Service Centre through undertaking an Accounts Payable Audit

20 August 2017

A bespoke specification, which included an audit of data previously reviewed by another external consultancy, led to overall recoveries of over £1m for this client. 

Focussing on duplicate payments and credits not already processed, Meridian provided a fully managed service, handling all investigation and recovery work. Initial recoveries were delivered within two weeks of the project commencing, with the secondary audit recovering more than the previous consultancy had found in this same period.

A few words from the Head of Accounts Payable, click the link below to read all about their experience;

“Meridian’s expertise in this type of project was quickly apparent and strong project management and a client focussed approach created a platform for this highly successful project.”

Read full case study

--------------------------------------------------------------------------------------------------

Helping you recover funds from your Telecommunications Suppliers

13 August 2017

Have you been billed correctly, literally down to the individual calls made? Are you spending unnecessary money? Can you make savings within your existing contract?

Meridian offer a detailed audit of expenditure to identify all of these things and more, recovering historic over-charges and recommending future savings opportunities.

With over a decade of experience, we don’t just identify recommendations, we help drive through the implementation.

Experience some of our latest success stories by clicking the link below and consider how we could deliver value to your organisation. We would be pleased to discuss our services with you, by phone 08000 820678 or email info@recoveryaudit.com

Read full case study

--------------------------------------------------------------------------------------------------

Meridian appointed to deliver a purchase ledger project with NHS Wales

20 July 2016

Following a competitive selection process, Meridian have successfully been appointed to undertake a primary and secondary audit of purchase ledger records for this large and complex shared service centre.

--------------------------------------------------------------------------------------------------

Meridian Cost Benefit Limited appointed on to new East of England NHS Framework to create savings for the health sector

27 June 2016

A new savings focussed framework has been put in place by the East of England Collaborative Procurement Hub (EOECPH) to help both the NHS and the wider public sector access effective cost saving solutions in a world of ever tightening budgets.

Following a competitive selection process, Meridian has been awarded Lots in three areas of cost recovery and optimisation; Accounts Payable, Telecoms and Temporary Staffing (Meridian are the sole supplier for this Lot).

OJEU compliant, the Analysis and Reconciliation Services Framework will help organisations across the public sector recover both historic overpayments and introduce significant future savings.

Meridian has a strong track record of working with organisations across the public sector, delivering highly successful profit recovery services; identifying where suppliers have been overpaid either at invoice level or due to contractual terms not being correctly implemented. We don’t just make recommendations, we help drive through the implementation.

Over the last 18 months alone, we have recovered over £4m for our public sector clients.

To find out how we can help your organisation please contact David Lyon on 0800 0820678 or visit www.recoveryaudit.com for more information.

Full details can be found on the EOECPH’s website by clicking here.

--------------------------------------------------------------------------------------------------

Meridian successfully reappointed to North West Audit and Overpayments Recovery Services Framework Agreement

29 January 2016

Over £3.5m was delivered back to North West authorities under the previous framework (2012-16).
Having developed a very strong reputation for delivering high results, a light touch, fully managed service, calling for minimal internal support or resource from clients, Meridian has been successfully reappointed to deliver spend recovery services across the North West region, following a competitive selection process.

Widened scope of services

Profit recovery services, including; Purchase Ledger Reviews and Contract Compliance Reviews (price and terms) e.g. Telecoms, Utilities, Temporary Agency Staffing, or any commodity or cost areas.
The new framework runs until the winter 2019.

Please click on the case study attached to read more about the results of the previous framework and opportunities available.

Read full case study

--------------------------------------------------------------------------------------------------

NHS Trust achieves six figure saving with spend recovery audit

10 December 2015

Nottingham University Hospitals NHS Trust wanted to undertake a spend recovery audit. As the trust uses specialist duplicate prevention software, the key objectives were to provide a more general ‘health check’ of processes and focus in particular, on identifying any outstanding credit notes that had not yet been processed.

The trust exercised due diligence, by following up client references on Meridian’s service and the decision was made to direct award using the Crown Commercial Service Spend Analysis and Recovery Services agreement (RM1037).

Meridian provided all resource for the investigation and claims management work.

As expected the majority of spend recovery was achieved from unprocessed credit notes. Click the link below to read about their experience.

Read full case study

--------------------------------------------------------------------------------------------------

Worcestershire County Council Recovers over £180,000 with Spend Analysis and Recovery Services

25 October 2015

Having undertaken a recovery audit of accounts payable some years ago, the council felt it was the right time to commission a further review to identify and recover any overpayments to suppliers and provide advice on improving their current processes.

Using the Crown Commercial Service Spend Analysis and Recovery Services agreement, the council engaged purchase ledger review specialist Meridian via a direct award.

The project was completed within anticipated timescales and managed by just a single point of contact.

Click the link below to read about their experience.

Read full case study

--------------------------------------------------------------------------------------------------

Cabinet Office undertakes successful spend recovery audit

29 September 2015

Following the government directive of 2013 stating all central government departments must undertake a spend recovery audit, the Cabinet Office engaged with the market to seek a specialist consultancy to perform an external review of their accounts payable function via the Spend Analysis and Recovery Services (RM1037) agreement.

Meridian demonstrated a flexible and professional approach. The value recovered was higher than initially expected with recoveries evenly balanced between the two areas of investigation (duplicated and overpayments and supplier statements and complex suppliers.

Read full case study

--------------------------------------------------------------------------------------------------

Central Bedfordshire Council – Achieving savings and efficiency improvements with Spend Analysis and Recovery Services - over £500,000 of value has been returned to the council

29 April 2015

Over the course of the last 18 months, Meridian V4 Services has been working with Central Bedfordshire Council to identify and recover funds via profit recovery reviews.

As a direct result of the success of the initial purchase ledger review, the council commissioned a wider range of contract compliance (price and terms) audits.

Meridian has delivered value of over £500,000 to date; £400,000 of which relates to the price and terms audits undertaken.

Read full case study

--------------------------------------------------------------------------------------------------

Central Bedfordshire Council – Recovers £300,000 by undertaking a price contract compliance audit


28 April 2015

As a direct result of the success of the purchase ledger review undertaken with Meridian V4 Services, the council made the decision to re-invest some of the cash savings achieved, into additional price contract compliance opportunities; namely a forensic examination of the council’s telecoms expenditure.
The cash recoveries far exceeded the council’s initial expectations; with total monies paid back in excess of £300,000. The scope for review has since been extended to review other areas of expenditure.

Read full case study

--------------------------------------------------------------------------------------------------
Recovery Audit Logo       Meridian Cost Benefit Logo

Contract Compliance generating significant recoveries


31 January 2015

In the last 3 months, 25%+ of all recoveries have been generated from Contract Compliance (price and terms audits). The balance of the other 75% from our traditional core specialism; purchase ledger reviews.

--------------------------------------------------------------------------------------------------

Major milestone reached

31 December 2014

Meridian has now recovered over £4m via two government frameworks for our public sector clients.

--------------------------------------------------------------------------------------------------

Crown Commercial Service - Central Bedfordshire Council recovers over £100,000 with Spend Analysis and Recovery Services

9 June 2014

Meridian V4 Services were appointed to undertake a forensic examination of third party invoice payments (Spend Recovery Audit) to help identify any areas of erroneous spend and to provide assurance of the strength of procedures in place. As a result of the project, the council were able to recover over £100,000. As a direct result of the success of this project, the council is re-investing some of the physical cash savings into further contract compliance opportunities including an audit of telecommunications.

Read full case study

--------------------------------------------------------------------------------------------------


Meridian Cost Benefit Ltd successfully appointed to the NHS Shared Business Services Bill Validation and Cost Recovery Services Framework

13 January 2014

Meridian has been successfully appointed onto the NHS Shared Business Services Framework; Bill Validation and Cost Recovery Services to assist public sector organisations with Telecommunications Audits.

The framework has been set up to assist organisations with validation and cost recovery services from identification of opportunities to the physical recovery of the identified monies on behalf of the client. The framework facilitates the procurement of excellent quality of service; Meridian has been vetted and approved by NHS SBS through a rigorous OJEU compliant tender process and offers strong value for money for participating authorities.

This framework can be accessed by NHS participating authorities as well as associate members across the wider public sector including; Central Government Departments, Local Authorities and the wider NHS.

Meridian Cost Benefit Ltd

MCB Ltd t/a Recovery Audit is a leading provider of overpayment recovery services, including Telecom specialist audits and purchase ledger reviews  and work with both public and private sector organisations throughout the UK delivering significant value, including process improvement recommendations.

Meridian is an SME and has a strong track record of working with public sector organisations to deliver true cash savings based on the recovery of historical billing errors and identification of forward savings.

www.recoveryaudit.com

--------------------------------------------------------------------------------------------------

NW Region - Audit and Overpayments Recovery Services Framework Agreement

12 December 2013

In 2010, the North West Region recognised that spend recovery audits (purchase ledger reviews and associated specialist audits) might be able to deliver real value at a time when budgets were coming under severe pressure¬… Meridian Cost Benefit Ltd were appointed as the supplier on the resulting framework in the summer of 2011¬… Within the first 12 months over £1,000,000 was recovered for the participating authorities. Over £2,000,000 had been recovered by the end of year 2 and the total has now passed £2,300,000¬… the framework is available under the summer of 2015.

Click on the link below to read more.

NW Region - Audit and Overpayments Recovery Services Framework Agreement.pdf

--------------------------------------------------------------------------------------------------

Meridian Cost Benefit Ltd Appoints New Chairman

3 June 2013

Meridian Cost Benefit is pleased to announce the appointment of Mr David Lyon as Chairman of Meridian's Board.

David has a strong commercial background; qualifying as an accountant whilst at Ernst & Whinny, David moved on to work with Pricewaterhouse Coopers. His career has included senior finance roles at Whitbread, and then Nestor Healthcare and Clinovia. He was formerly Managing Director; moving to the appointment of Chief Executive of Carewatch Care Services, a leading domiciliary care provider until 2012.

Peter Welch, Managing Director of Meridian said, "David's appointment is great news for Meridian and our clients. I have known David for many years and know he will add considerable benefit to Meridian and the services we provide. The news comes at a particularly exciting time for the business, following our recent appointment to a new Government Procurement Service (GPS) framework for Spend Analysis and Recovery Services with specialist public procurement providers V4 Services Ltd" www.v4services.com.

David will be working alongside Meridian's Company Directors to provide strategic advice as the business continues to grow and develop.

--------------------------------------------------------------------------------------------------

V4 SERVICES AND MERIDIAN COST BENEFIT APPOINTED ON TO NEW GOVERNMENT PROCUREMENT SERVICE FRAMEWORK TO SAVE MONEY FOR THE PUBLIC SECTOR

3 June 2013

V4 Services and Meridian Cost Benefit Limited have been appointed on to a new national framework agreement, RM1037 - spend analysis and recovery services available for use by any public sector organisation in the UK.  The four year framework has been set up by  Government Procurement Service (GPS) to support the ministerial directive to all central Government departments, that a spend audit, and recovery of any sums identified in such an audit, should be undertaken.

Adam Jacobs, V4 Services' Managing Director said: "We're delighted to have been appointed on to this framework to continue our work with public sector organisations in finding and delivering savings from their third party spend.  By combining our public sector procurement expertise and experience with Meridian Cost Benefit's services to recover overpayments made through the accounts payable process, we can offer organisations the means to deliver financial savings and the scope that they need to meet their financial targets or re-invest in critical frontline services."

The framework has been set up with four categories of available services:

1. Contract compliance audit - assessment of contracting end-to-end processes and contract non-compliance and the root causes; identification of any issues and risks; opportunities for rationalisation, closure or novation to existing public frameworks; identification of savings opportunities and recommendations for improvement. 
2. Data analytics services - review of procurement, accounts payable and purchase order processes to identify areas for potential cost and process savings.
3. Data analysis services - review of accounts payable transactions and historic cost recovery audit and spend analytics including duplicate payments, overpayments, errors, overcharging by suppliers and VAT recovery.
4. Spend recovery services - recovery of identified overpayments to suppliers on behalf of the contracting organisation.

Peter Welch, Director of Meridian Cost Benefit Limited said: "In the current economic climate our service helps organisations recover innocently overpaid  amounts to suppliers. Even the best run organisations make overpayments to suppliers. Utilising this framework agreement will help government departments, NHS bodies and local authorities recover significant amounts. These typically represent between 0.05 to 0.1 per cent of annual payments to third party suppliers (expressed another way, often over 30p per invoice processed).  Identifying these errors and then recovering the money can make the difference of retaining or appointing new front line staff, and can make a substantial contribution to the costs of public services, such as leisure centres or libraries.  Decisions for senior managers are becoming harder and that's why taking up the services through this framework makes sense for government departments and other public bodies."

V4 Services and Meridian Cost Benefit Limited are both SMEs and together have worked with 75 public sector organisations in the UK.

Further information about the framework itself is available on the GPS website.

About V4 Services
V4 Services is a leading provider of public sector efficiency and improvement solutions. We work in partnership with over 50 public sector organisations across the UK to design and develop organisations and their service provision to meet the changing and future needs of communities.  We have delivered a broad range of change and transformation projects and our core services include:

  • Management and delivery of efficiency and improvement: whole council programmes or individual change projects
  • Commercial procurement: complete managed service or tailored to specific needs
  • Programme/project management: capital and regeneration schemes, asset rationalisation and facilities management
  • Leisure and culture services: including options and efficiency reviews through to establishment of trusts and joint ventures or commissioning of new service providers to manage and operate leisure and culture services and facilities
  • The provision of professional/interim resources
  • Executive search, assessment and organisational development.

www.v4services.co.uk

About Meridian Cost Benefit

Meridian T/A Recovery Audit is a leading provider of overpayment recovery services, including purchase ledger and specialist audits (telecoms, utilities) and work with both private and public sector organisations throughout the UK delivering significant value, including process improvement recommendations.

With over 40 local authorities/public sector organisations Meridian Cost Benefit have unrivalled benchmark information and a wealth of experience and knowledge in this sector; recovering more with a minimal resource requirement from our clients.

Where Meridian Cost Benefit add value:

  1. Recovery of duplicate and error payments
  2. Investigation and recovery of complex supplier accounts
  3. Identification of incorrect VAT reclaim
  4. Specialist contract compliance audits, identifying where overcharges at line item detail (down to an individual call basis in the case of telecoms), enabling refunds to be achieved.

Contact Meridian Cost Benefit

Archive

15 December 2017
Recoveries for clients in public sector exceed £15m in the last 60 months

12 August 2017
Public sector shared service centre recover over £1m (see case study)

27 June 2016
Meridian Cost Benefit Limited appointed on to new East of England NHS Framework to create savings for the health sector

29 January 2016
Meridian successfully reappointed to North West Audit and Overpayments Recovery Services Framework Agreement

10 December 2015
NHS Trust achieves six figure saving with spend recovery audit

25 October 2015
Worcestershire County Council Recovers over £180,000 with Spend Analysis and Recovery Services

29 September 2015
Cabinet Office undertakes successful spend recovery audit

29 April 2015
Central Bedfordshire Council - Achieving savings and efficiency improvements with Spend Analysis and Recovery Services - over £500,00 of value has been returned to the council

28 April 2015
Central Bedfordshire Council - Recovers £300,000 by undertaking a price contract compliance audit.

31 January 2015
Contract Compliance generating significant recoveries.

31 December 2014
Major milestone reached.

9 June 2014
Crown Commercial Service - Central Bedfordshire Council recovers over £100,000 with Spend Analysis and Recovery Services.

13 January 2014
Meridian Cost Benefit Ltd successfully appointed to the NHS Shared Business Services Bill Validation and Cost Recovery Services Framework.

12 December 2013
NW Region - Audit and Overpayments Recovery Services Framework Agreement.

3 June 2013
Meridian Cost Benefit is pleased to announce the appointment of Mr David Lyon as Chairman of Meridian's Board.

3 June 2013
V4 Services and Meridian Cost Benefit appointed on to new Government procurement service framework to save money for the public sector