We Share Our Findings To Help
You Prevent Future Overpayments
APEX Analytix® provides a complete evaluation of your Accounts Payable function as part of every audit. Our professional staff, assisted by our proprietary software, performs a highly focused review to identify recoverable overpayments and uncover their cause.
As part of our audit process, we learn as much as possible about our client's spending in a very brief time frame. We use a variety of reporting capabilities in our audit tools to provide management reports that detail cash management feedback, monitor cash discount capture, and identify vendors as potential EDI candidates.
Our management report provides an assessment of Accounts Payable “best practices” (imaging, EDI, procurement card, positive pay), recommendations to prevent future overpayments; specific cash flow, cash discount opportunities, and other recommendations to strengthen your financial function. Our audit findings provide a detailed testing analysis and recommendation section containing an analysis of overpayments by underlying reasons.
For many clients, we provide ad hoc reporting throughout the review based on client needs. Our capabilities include, but are not limited to insight into:
- Cash flow
- Financial analysis to ensure compliance with payment terms
- Credit percentage analysis
- Duplicate vendors, inactive vendors and one-time vendors
- Days payable outstanding
- Top “X” vendors by invoice and spending
- Processing efficiencies
- Purchase order stratification
- Financial analysis by vendor to determine the cost impact of not taking discounts
- Analysis of accurate unit costs and calculations matched to purchase order
- and more
Contact us for more information or request a copy of a sample management assessment report.