continyous gain
If your company is like most, you routinely audit your accounts payable to recover duplicate payments mistakenly issued to vendors. But with a Vendor Statement Audit from APEX, you can also find unpaid or unapplied credits vendors owe to you.
Whether resulting from merchandise returns or markdowns, canceled orders, rebates, unapplied cash discounts, freight allowances, forgotten deposits, or credit memos mistakenly paid as invoices, the potential losses to you can be significant. We’ve found individual credits that range from $1 to $6.5 million, so you know we are thorough and complete in assessing every opportunity.
APEX serves more than 250 client companies, large and small and in all industries, whose global annual spending exceeds $1.2 trillion. Through such engagements we’ve developed a directory of more than six million suppliers, throughout the world and have direct relationships with many of the world’s largest and those most common across industries.
During your statement audit process, we’ll work with you to define your opportunity, group your vendors so you can expedite recovery, then prepare and execute a multi-step program, ever mindful of the value to you of your business relationships. All claims are identified and categorized before any action is taken, so APEX can get you the highest return in the shortest time. We’re careful to keep the integrity of your supplier data, while simultaneously enhancing it with the help of an extensive proprietary database that has been continuously updated since we started performing audits 22 years ago.
Historically, response rates from our vendor outreach exceeds 90 percent; you simply pay us a small percentage of what we find – after the work is done. Results are presented in a Management Assessment report, including identification of root-cause errors so you can take corrective action to prevent similar oversights in the future.
Bottom line: Overlooking a vendor statement audit can be your loss; but working with APEX you can make it your gain.
