How we work
From data to documented clarity.
Every assignment follows the same four steps, regardless of the area of analysis or the size of the organisation.
- 01
Scoping
We define the purpose, scope and data sources together with you.
- 02
Data and analysis
We analyse historical financial flows and identify potential discrepancies.
- 03
Verification
We establish and document the actual circumstances. Nothing is reported as a finding until it has been verified.
- 04
Results and basis for decisions
You receive a basis for decisions: documented findings, financial impact, risks and recommended controls.
How the analysis works in practice.
A finance system can flag the simplest discrepancies automatically. We go further. The analysis runs by machine across the whole data set, and what is flagged is reviewed and verified manually by our analysts.
More about the analysis
The work begins with us collecting the records from the client, typically ledger and bookkeeping data. The material is adapted to Refero’s analysis method and a first run is carried out. The result is often reports with hundreds of thousands of rows.
The aim is to make sure that the client gets back what it is actually entitled to, for example recovered tax or other financial discrepancies that would otherwise have gone unnoticed. Beyond the financial effect, we go through what caused the discrepancies and propose measures and changes to procedures that reduce the risk of the same errors happening again.
- 01Recorded transaction
- 02Automatically flagged
- 03Manually reviewed
- 04Verified finding
What we look for in each service
| We review | We look for | You can use it for |
|---|---|---|
| VAT and transactions | Duplicates, overpayments, VAT errors, fraudulent invoices | You can use it for: Claims for repayment and better control |
| Contracts and prices | Wrong price, wrong discount or purchases outside the contract | You can use it for: Supplier dialogue and stronger contracts |
| Energy | Incorrect energy tax, tariff or electricity connection | You can use it for: Refunds and lower running costs |
| Property | Incorrect property fee, property tax or property VAT | You can use it for: Correct tax assessment and recovery |
| Tailored analysis | Discrepancies specific to the question of the assignment | You can use it for: A tailored basis for decisions |
Low internal workload
estimated time required from you
In around 99% of assignments, Refero is given read-only access and extracts the data itself. Your part is three check-ins: at the start, when the results are reviewed and at the end.
An assignment normally takes between 1 and 3 months per area. If you choose several areas, it may take longer.
Information security and data handling
In most assignments, Refero extracts the data itself through read-only access to the client’s systems. If the client sends records instead, this is done through an encrypted link in OneDrive, with servers in northern Europe. All data is handled confidentially and is used only for the defined assignment.
How we handle the data
The data is handled locally at Refero and in Microsoft Azure. The analysis work is carried out in Microsoft 365, that is Excel and Outlook. Refero does not use AI or machine learning in the actual analysis work.
What you get
In addition to the report, the assignment includes knowledge transfer to your own organisation, so that the conclusions can be put into your procedures even after the assignment has ended.
What the report contains
A clear basis for decisions: a summary of the results, documented and verified findings, the financial impact, any risks, and recommended controls to prevent the same discrepancies from happening again.