Managing supplier networks and payment processes efficiently is a critical challenge for growing organizations.
Traditional methods often lack the visibility and precision needed to recover lost value, reduce risks, and enhance operational efficiency.
apexanalytix’s supplier management solutions transforms this process by streamlining workflows, automating compliance, and delivering actionable insights that drive measurable outcomes.
Recently, apexanalytix commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study to quantify the financial and operational benefits of its solutions. The results, based on real-world customer interviews and combined to form a composite organization, highlight the significant impact of apexanalytix on supplier management.
Key Findings from the Forrester TEI Study
$2.1 Million Recovered in Duplicate Payments
The study revealed that organizations using apexanalytix solutions were able to recover 70% of duplicate payments that were previously undetected. By implementing advanced overpayment prevention tools, companies reduced manual errors and achieved significant cost savings.
What stood out with apexanalytix was not only the good job they did on the recoveries, but their willingness to share the reasons for those duplicate payments. They really spent a lot of time going over those duplicates so that we were able to adjust our processes to avoid those same errors.
Associate Accounting Manager, Hospitality
168% ROI and $2.19 Million in Net Value
apexanalytix’s solutions delivered a positive 168% return on investment (ROI) over three years, with a net present value (NPV) of $2.19 million. Customers experienced payback in less than six months, underscoring, for us, the rapid impact of apexanalytix on operational efficiency.
One of the things that made us choose apexanalytix is that it gave us the flexibility to build the workflows and the approval path that was based on our policies.
Global Process Owner, Manufacturing
Streamlined Vendor Discovery and Onboarding
With apexanalytix, organizations reduced vendor discovery and onboarding times by up to 60% by Year 3. Automation of tasks like banking validation and vendor self-service freed up resources, resulting in time savings worth $638,000.
So, every company is a little different, but for us the division starts the onboarding process, invites the vendor, and starts collecting the data. Then it’s sent to the data governance group and then gets handed to accounts payable for set up. Before apexanalytix, this process was touched by eight people, and now the workload is about half of that.
Controller, Retail Organization, Grocery Space
40% Productivity Gains in Supplier Management
Enhanced visibility and automation allowed organizations to optimize ongoing vendor management processes, saving $703,000 over three years. Supplier self-service portals reduced inbound inquiries, freeing teams to focus on strategic activities.
We were looking for something very simple that our vendors could go into and see where their payments were. Having a self-service vendor portal was a pretty big deal because it stopped people from calling my staff asking where their check was.
Controller, Grocery Retail
Improved Compliance and Fraud Prevention
Transforming Supplier Management: A Path to Strategic Growth
The Forrester TEI study underscores the transformative value of apexanalytix’s supplier management solutions. These tools enable organizations to recover lost value, streamline operations, and mitigate risks while creating opportunities for strategic growth.
apexanalytix simplifies complex supplier networks by automating tasks like banking validation and vendor self-service, helping organizations reduce manual errors and save time. With centralized workflows and real-time visibility, companies can proactively manage vendors, detect fraud, and improve compliance.
As one interviewee shared:
“We consider ourselves like a partner to apexanalytix because we requested changes to the platform and worked with the apexanalytix team to help get those updates released. These changes are not only great for us, but they also benefited other clients.”
By reducing inefficiencies and enhancing collaboration, apexanalytix empowers businesses to focus on higher-value activities, paving the way for long-term success.
Explore the Full Study
Discover the detailed findings, customer success stories, and methodology behind the Forrester TEI study.
Click here to access the full study and learn how Apexanalytix delivered measurable ROI and transformed supplier management.
