Procure-to-Pay Review

Millions Saved = Millions Earned

Hard Dollar Recoveries Without Working Hard

The Management Assessment Report is presented at the end of every audit. Know exactly where the recoveries came from. Learn how you compare with your peers. Use the feedback to help your whole procure-to-pay process improve.

Chances are that your working capital situation has changed since the beginning of 2020. Priorities have shifted. Projects are on hold. Staff has been reorganized. And you are strapped for time.

apexanalytix can recover millions in overpayments due to the drastic change. With minimal help from you. Our process has been streamlined over the course of thousands of audits so you can bring cash into the business, get valuable insight into procure-to-pay process gaps and not have to spend a lot of your team’s time to get it done.

Are you ready to make a difference for your company in just a few hours a month?

Change Happens. Losses Don’t Have To.

Recovery Audit is an Antidote to Adversity

In the past few years, COVID-19 has threatened AP payment accuracy in several ways:

• More prepayments
• Supplier bankruptcies, discontinuing business with a supplier
• Overriding controls to pay critical, time-sensitive suppliers
• Bypassing supplier setup procedures
• Increased use of one-time vendors
• Working from home

Overpayment risk increases when business as usual becomes disrupted. By now, we thought we would be fully back to business as usual. We’re not, but there is something you can do.

It’s P2P, not Just AP!

Entire supply chains have been disrupted, but AP is just one end of the P2P process.

We can identify the dollars that should be yours whether AP can see them or not. The returns, rebates, discounts not taken, prepayments that exceeded actual costs, and every other detail that lives outside of AP.

We look at the entire transaction to find overpayments and get them validated by the supplier. So, all you have to do is enter the credit or deposit the check.

apexanalytix knows because we conduct thorough root-cause analysis on every overpayment, and we are seeing issues throughout the P2P process.

It’s Free P2P Control Gap Consulting!

That’s what our clients say about an apexanalytix recovery audit. Because no one wants to keep making the same mistakes over and over again.

Our detailed claim reporting comes together in the end-of-audit report to show you where the mistakes happened, and what caused the overpayment.

Because of the hundreds of audits we do every year, we have a rich database of industry and comparative data to show how you measure up.

In most cases, our clients are processing 99% accurately, but that 1% could be millions of dollars. We will tell you how to close the gaps that caused the losses in the first place.

AP Gives Back to the Business

Maximum Recoveries. Minimum Effort on Your Part.

“You are strapped for time. Taking on another project may seem impossible. That’s why you need apexanalytix to do the work…and you have to be able to trust the work we do. How much time does it take? Our clients will tell you that it takes about an hour of their time per week – management and processors combined – to support the recovery audit. How does apexanalytix do it? After 35 years and thousands of audits we have it down to a science.

I like apexanalytix because the auditors do the work. There isn’t a lot of work for me and my team to do. They have the talent, processes, and ability to get the job done independently.”

Michelle Flewellyn-Wiggins, Associate Director, Accounts Payable, Cedars-Sinai

How apexanalytix Gets It Done

• Experienced auditors around the world and in our US-based shared services center
• Leading audit technology: predictive analytics and 90 million scored supplier records
• Global capability: every region of the world, any language
• Automatic data extracts
• Read-only system access for research and resolution of claims
• Experience with all ERP systems and data
• Customer service training to preserve supplier relationships and maximize response rates
• auditview portal to see and approve claims with detailed notes
• Auto upload files for instant credit application

“We process over 8M invoices a year. apexanalytix has really helped us dive deep into our processes and identify opportunities to which we wouldn’t have had visibility.”

Julie Becker, Accounting Operations Senior Manager, PepsiCo

5 Ways to Keep Improving Beyond the Audit

1. Use the data-based recommendations in the end-of-audit report to train your team, improve your processes, and fix the problems that the audit identifies.
2. Stop duplicate payments before they are made with firststrike – only four months to deploy!
3. Remove duplicate vendors and improve contact information with smartvm.
4. Audit everything else with contract compliance and sales and use tax audits.
5. Then…Take it to the next level with apexportal:
   • Eliminate up to 80% help desk inquiries with online invoice and payment status.
   • Automate supplier onboarding and management with supplier self-service portal.
   • Stop payment fraud with bank account ownership validation.
   • Validate supplier identity against 1000+ trusted governmental, regulatory and third-party data sources.
   • Capture supplier invoice discounts with an automated early payment program.