Support Internal Recovery Audit, Claims Management and Inventory Turns-to-Payment Terms Reporting with FirstStrike® Retail Audit
APEX Analytix offers retail companies like yours solutions that empower your internal team and enhance your internal recovery efforts with self-audit technology. Support your savings and profitability initiatives with powerful reporting and analytics modules, and provide valuable insights into procure-to-pay processes for ongoing improvement.
FirstStrike reporting modules for retail allow you to:
- Analyze your inventory turns and payment terms to ensure that you are paying suppliers in accordance with inventory movement.
- Identify cash discounts taken and missed and get visibility into days payment/invoice outstanding reporting to support working capital objectives.
- Aggregate and report on data by merchandise category, product line, region, vendor, merchant and a virtually unlimited number of filters to identify potential issues and opportunities in savings.
FirstStrike Retail gives retailers the power to capture dollars in promotional allowances, price protection, rebates, cash discounts, duplicate payments and other transactions. It goes well beyond just identifying missed deals or overpayments and provides you with a complete claims management system, from identification through capture. With tools to centralize your claims, buyer files, and supporting buyer/vendor emails, FirstStrike is aimed to meet your needs, both today and well into the future.
By looking at both your structured and unstructured data, FirstStrike delivers dramatic benefits by helping you capture errors as close to the transaction as possible. You’ll see increased efficiency and improved productivity of your internal recovery audit processes, as well as lower payments to third-party auditors.
You’ll always have insight into root causes through better reporting and analysis, and your improved internal controls will help you more easily meet compliance requirements in all countries in which you do business. And undoubtedly, you will add measurable improvement to corporate cash flow and profitability.
APEX Analytix also offers comprehensive, technology-enabled retail audit services to support your operations.
Experience the APEX Analytix Advantage
- Benefit from a strategic partnership that uses advanced retail audit technology and robotics, as well as value-added solutions for protecting profits and optimizing working capital in your financial supply chain.
- Improve the productivity and effectiveness of your internal audit team.
- Achieve a single, transparent view into data from multiple procurement and payment platforms, regardless of the format.
- Analyze the root cause of recurring errors and tighten internal controls.
- Automatically build claims packages and manage workflow online.
With FirstStrike, the Choice Is Yours
In addition to Retail Audit, we offer 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.
Reporting and Analytics: Quickly transform large and unwieldy data stores into actionable information. 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.
Benefit from More Recoveries in Less Time – at a Lower Cost
APEX Analytix offers a transformative, software-based alternative to the traditional audit process that can significantly shorten the time it takes to identify and recover costly disbursement errors. FirstStrike® Retail proactively identifies missed allowances and overpayments. It also can be used to conduct your own software-enabled internal audit – quickly mining large volumes of data for a broad range of recovery opportunities. You will be poised to significantly shorten audit cycle times, to improve visibility into the causes of overpayments and to shore up your internal controls.
Benefit from More Recoveries in Less Time, at a Lower Cost
Retail is a high-stakes arena with large transaction volumes and razor-thin margins. That means problems like missed allowances and pricing errors can easily erode corporate profits. Until now, the common solution has been a lengthy, labor-intensive audit to uncover problems and recover funds. Want to know more?
Reduce the Cost of Claims and Prevent Future Losses
Most retailers conduct routine after-the-transaction audits to uncover errors, recover losses and improve their bottom line. But top performers are discovering the best results require breaking free of tradition and adopting the right tools and techniques.
Get five tips that can help you take a new look at your approach to a retail recovery audit and put you on the path to improved profitability.