Get a Transparent View into Your P2P Operations with FirstStrike® Reporting and Analytics
The FirstStrike Reporting and Analytics module solves the most fundamental challenge in managing P2P processes in large organizations – meaningful enterprise-wide reporting. The barriers FirstStrike overcomes are three-fold:
- Scope: What should we measure to become world class?
- Priority: When can I get on IT’s priority list?
- Access: How do we integrate data from all our systems for consistent enterprise reporting?
Out of the box, the FirstStrike Reporting and Analytics module erases these barriers. Scope and priority are not an issue because the system comes with fit-for-purpose, pre-built P2P reporting designed and tested in collaboration with the world’s most successful Shared Services organizations. For example:
- Operational KPI reports like invoice and payment volume and automation, keyer productivity, invoice and payment cycle times, on-time payment, No PO/No Pay compliance.
- Cash Management reporting, like DPO (Days Payable Outstanding) by spend category and vendor, discount capture and lost discounts, open debit balances.
- Vendor Analysis, like top vendors, duplicate vendors, multiple remit-to’s, vendor grouping.
- Spend Analysis and Spend Management, by commodity, geography, period LOB, unapproved spend.
- Minority/Diversity Reporting, to monitor and manage corporate initiatives.
- Custom Reporting to cover other scenarios.
The APEX Analytix Secure Open Adapter extracts, consolidates and analyzes information from virtually any procure-to-pay platform – with no costly or time-consuming integration required. You get a single, transparent view into every aspect of your procure-to-pay operations, including supplier files, invoice and disbursement data, purchase orders, P-card files, employee data and more.
With meaningful information at your fingertips, you can track KPIs, manage performance, isolate problems, uncover savings and determine how to improve your accounts payable and procure-to-pay controls.
- Powered by APEX Archimedes™ cognitive/AI technology, including predictive analytics, robotics, and IBM Watson®.
- Consolidate data from all your P2P systems, whether industry-leading systems like SAP and Oracle or custom (homegrown) environments.
- Select from 150 prebuilt reports or easily design your own.
- Analyze data in seconds to identify issues and uncover insights.
- Use global selection criteria to “slice and dice” data and drill down into details.
- Choose your own deployment model for FirstStrike, either hosted in the highly secure, compliant and scalable APEX Cloud or on premise.
- Make transformative, fact-based business decisions.
- Target the underlying reasons for errors and fix them once and for all with new AP best practices.
- Benchmark your operations and track AP metrics and key performance indicators for continuous improvement.
- Analyze spending to identify strategic sourcing opportunities.
With FirstStrike, the Choice Is Yours
In addition to Reporting and Analytics, we over other modules with the procure-to-pay controls and analytics you need to support your operations.
AP Controls: Continuously detect and prevent payment errors your ERP platforms won’t catch and conduct your own internal audit. Learn More.
Fraud Detect: Prevent fraud, uncover employee collusion and determine whether you are doing business with risky suppliers. Learn More.
Retail Audit: Conduct a self-audit of your retail operations to uncover errors and recapture losses closer to the transaction date. Learn More.
Decision Support Applications: Run a “what if” analysis, generate a high-level overview of results or drill-down into supporting details. Learn More.
Achieve the Visibility You Need for Smarter Decision Making
The APEX Analytix FirstStrike® Reporting and Analytics module offers reporting and analytics capabilities that can help you bridge previously incompatible systems and databases to get the most out of your data resources. You will have newfound visibility into your procure-to-pay operations globally so you can track performance, predict outcomes, isolate problems, uncover savings opportunities and improve your internal controls.