Reduce Your Risks with Technology-Enabled Services

Many governing bodies facing budget shortfalls have looked to escheatment as an important potential revenue stream. They have shortened the escheatment window, stepped up audit activity and issued more fines—often costing companies millions. In Delaware, for example, authorities collect almost a half billion dollars related to escheatment annually, representing the state’s third-largest source of revenues.¹

To help you avoid government fines and keep funds from being erroneously escheated to the state, apexanalytix provides comprehensive, technology-enabled escheatment avoidance services. We reduce your risks by identifying and resolving uncashed payments across the breadth of your operations and producing documentation able to withstand even the most rigorous state escheatment audits.

We go beyond the obvious to examine all your payment systems and related invoices to identify uncashed checks and determine whether they represent obligations that must be remitted to a government entity under escheatment statutes. Our team conducts vendor outreach, categorizes each unclaimed disbursement, thoroughly documents payments to be voided and even conducts a root cause analysis to reduce future exposure.

COMPREHENSIVE REVIEW

apexanalytix goes beyond the obvious to take a holistic look at your operations. We examine all your payment systems and related invoices to identify uncashed checks and determine whether they represent obligations that must be remitted to a government entity under escheatment statutes. Our team conducts vendor outreach, categorizes each unclaimed disbursement (i.e., reissue, escheatable, non-escheatable), thoroughly documents payments to be voided and even conducts a root cause analysis to reduce future exposure.

EXPERT PEOPLE AND PROCESSES

Our audit experts assure you get the most out of your escheatment avoidance engagement, using processes honed through decades of experience with Global 2000 companies. You’ll benefit from a carefully crafted methodology and from a team of experts focused on rapid results.

EXPERT TECHNOLOGY

apexanalytix escheatment auditors are equipped with firststrike®—the highly sophisticated software we use to consolidate and analyze large volumes of data from disparate purchasing and payment systems. As a result, we can stratify and categorize transactions by invoice and payment type, analyze errors and develop a recovery more quickly than teams relying solely on manual processes.

A PROVEN TRACK RECORD

apexanalytix is the partner of choice for more Global 2000 companies than any recovery auditor in the world. We have experience in complex corporate environments, escheatment documentation, global financial shared services and all varieties of ERP platforms—both commercial and homegrown.