Confidence without the work
Upload, validate, be confident in your vendor data
An easy-to-use web application that can validate supplier data against 1,000+ external data sources and 90M+ scored supplier records. Correct the error-prone manual process that is increasing duplicate payments and increasing the AP team’s workload.
of companies onboard vendors through a manual process
THE VENDOR MASTER PROBLEM
HOW ROBOTICS AND SMART TECHNOLOGY CAN TRANSFORM YOUR VENDOR MASTER
of duplicate payments stem from duplicate vendor records
The bottom line impact has never been easier
apexanalytix has spent 35 years recovering billions of dollars in duplicate payments for Fortune 1000 because standard ERP controls are not good enough to identify duplicate payments. smartvm’s duplicate vendor identification detects duplicate vendors and creates a fast impact on minimizing duplicate payment risk.
Don’t risk non-compliance ever again
Protect your company against OFAC fines
Based on apexanalytix vendor master benchmarking, 0.53% of an average company’s suppliers are already on a prohibited list. If a company has 10,000 suppliers, on average 53 have already been flagged and your company should not be doing business with them. Furthermore, 0.53% was the average. Several companies in our research had over 1.5% of suppliers on prohibited lists!
of OFAC fines are more than $1M