Protect your company’s reputation and revenue from the first time you engage with a supplier and throughout the supplier lifecycle.
Protect your company’s reputation and revenue from the first time you engage with a supplier and throughout the supplier lifecycle.
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Icon is an exclusive conference attended by leaders of best-in-class, global financial shared services, accounts payable, procurement, post-audit and supplier governance, and risk and compliance organizations.
April 21-23, 2024
7 March 2024
This tech company is a global leader in technology-enabled business solutions and services to support “digital transformation” initiatives. It serves clients in more than 60 countries and generates more than $8 billion in annual revenues. The firm attributes its success to helping companies modernize their processes, applications and infrastructure.
With annual disbursements in excess of $1 billion, executives knew there were ample opportunities for payment errors that could take a toll on the firm’s profits. They also knew the value technology could bring to critical business processes and hoped to find a software-enabled solution that would deliver the protection they needed.
After a thorough analysis of options, executives adopted the apexanalytix firststrike® platform for continuous protection against disbursement errors. They decided to complement their new software with regular disbursement audits conducted by apexanalytix experts.
An audit of 150,000-plus invoices and over $1 billion in annual disbursements uncovered just one duplicate payment—attributed to a team member overriding a warning of a possible duplicate.
• firststrike analytics helped the firm totally eliminate duplicate payment losses associated with:
– inconsistent invoice coding
– inconsistent invoice dates
– multiple related vendors
– invoices paid on multiple payment platforms.
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