Protect your company’s reputation and revenue from the first time you engage with a supplier and throughout the supplier lifecycle.
Protect your company’s reputation and revenue from the first time you engage with a supplier and throughout the supplier lifecycle.
Our purpose-built and configurable platform brings together everything your company needs to optimize your supply base.
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This company was averaging more than $100,000 a month in proactive vendor refunds, despite existing payment controls. So, they turned to apexanalytix for help.
This firm in the highly competitive healthcare sector operates more than 500 skilled nursing and rehabilitation centers, assisted living facilities, outpatient rehabilitation clinics, and hospice and home healthcare agencies across the US. The company turned to apexanalytix for comprehensive, companywide protections against disbursement errors and fraud.
The company uses thousands of local vendors in the communities where its facilities are based. But local personnel focused on patient care lack the skills to understand and track the many financial transactions involved. Executives knew this local-level inexperience was triggering overpayments. In fact, they were averaging more than $100,000 a month in proactive vendor refunds, despite existing payment controls. It was clear a higher level of protection was needed.
More insights. More expertise. More supplier intelligence. More recoveries than any other provider in the world.
The firm adopted an apexanalytix Accounts Payable platform to provide continuous protection against disbursement errors and fraud. apexanalytix extracts and analyzes data daily from the company’s PeopleSoft and Basware systems—generating easy to use reports that rank-order risks by importance. Team members can quickly review the information and intervene before erroneous disbursements are made.
apexanalytix has delivered the powerful control framework needed to protect disbursements company-wide. Among the impactful outcomes:
• In the first six weeks after implementation, apexanalytix prevented an average of $225,000 in duplicate payments a week.
• The company now has the tools to analyze past disbursements and conduct its own recovery audits.
• A cumbersome, time-consuming reporting process has been transformed. Reports are now generated in seconds and delivered directly to the desktop—driving better-informed business decisions and supporting strategic sourcing initiatives.
• apexanalytix is enabling new processes, controls and metrics that impact performance and profitability, including new policies on how credit memos are handled.
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