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Supplier Registration

The apex platform empowers source-to-pay teams with a foundation of accurate vendor data to confidently manage risk across all of their suppliers at onboarding and throughout the relationship. It provides a single, central supplier hub for every supplier, all of your policies and integration with 100% of your source-to-pay systems.

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Configurability

The apexanalytix supplier management was designed to be infinitely configurable so the most complex organizations an address a multitude of supplier requirements at onboarding and throughout the lifecycle.

Every element – supplier types, response options, validations, workflow routing – can vary based on client-specific parameters (region, language, industry, associate ERP) to meet a client’s operational requirements.

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Configurable Rules Engine

apexanalytix’s flexible Rules and Workflow Engine to accommodate specific client business rules, workflows, and data requirements. It supports advanced approval options, including auto-approval, simultaneous approval, and complex approval hierarchies, tailored through client-defined rules. Approval processes can be configured to reflect client-specific matrices, such as supplier type, purchasing country, or spend levels.

New configurations and updates can be made easily using the BPMN 2.0 graphical UI, allowing clients to visualize and modify workflows seamlessly. A registration essentials module is also available for rapid deployment, enabling basic functionality within two weeks.

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Technology and Data Integration

Each client operates within their own white-labeled instance with separate databases and infrastructure to ensure data privacy. The system supports the full vendor master schema for ERP systems like SAP, Oracle, and PeopleSoft, covering entity data, tax details, multiple addresses, contacts, bank accounts, and more.

Profiles are tailored to meet ERP, country, and client-specific business rules. A single supplier profile seamlessly integrates with multiple ERPs to ensure synchronization.

Supplier Validations

apexanalytix validates supplier data through integration with over 1,000 global government, regulatory and authoritative third-party databases.

As suppliers enter data (global Tax IDs, bank accounts, diversity status, etc.), apexanalytix validates the data in real time to ensure accuracy prior to onboarding. Some errors are automatically corrected, some prompt the suppliers to correct invalid data, and others, like OFAC exceptions, are displayed only to the buyer’s approvers.

Global Tax IDs

  • Global Tax IDs

  • Prohibited Lists

  • Global Addresses

  • Bank Account Ownership

Global Tax IDs

Ensure that tax IDs are valid across 50+ countries:

  • US
  • EU VAT Area
  • Switzerland
  • Canada
  • Australia
  • Malaysia
  • India and more.

Prohibited Lists

Check new suppliers at onboarding and continuously monitor against 100+ prohibited vendor lists.

  • Office of Foreign Assets Control (OFAC)
  • Financial Action Task Force (FATF)
  • United Nations (UN)
  • Interpol International Criminal Police Organization (INTERPOL)
  • Department of State Terrorist Exclusion List (TEL)

Global Addresses

250 country address books are validated to confirm where supplier’s headquarters or important locations are.

Bank Account Ownership

Bank account ownership validation is the most effective way in preventing fraud.

  • Validates bank account is owned by supplier through integration with global banking consortium and government authorities (US, UK, India, Sweden (GIRO), Poland, Czech Republic)
  • Confirms that the bank account does not have a negative balance (high risk attribute)
  • Flags change requests for bank accounts that have been recently opened

Additional bank validations are detailed in the Fraud Prevention section below.

Golden Records

Our proprietary database of 250M+ suppliers provides the most complete and accurate data to accelerate onboarding, improve master data and predict supplier behavior. Every data point is scored based on accuracy and age. The database is used to prepopulate, enrich and validate supplier data at onboarding to provide a robust and accurate supplier profile within a client’s instance.

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250M+ Supplier Records

The golden records are the best possible information apex has been able to gather on a given entity, using all our available data sources, with each data value scored for trust.

Trust scores are based on the number of sources we have for the data point, the degree to which we trust those data sources, and the time since the data was last validated. We use those trust scores to identify the most trustworthy data and whether to use a given piece of data in a given use case.

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So, for example:

1. If 3 of our customers have identified a supplier as a small business,

2. through our direct interaction with the supplier they have confirmed they are a small business and provide their certificate number,

3. we confirm with the Small Business Administration that they are registered and in good standing,

4. then we will assign their small business status data the highest possible trust score. We know it can be trusted and used for just about any use case.

5. Ninety days later, if we haven't reconfirmed the data, then the trust score will start to degrade.

Diversity

Also...

If a supplier claims to be a small business, but we haven't confirmed the data with the SBA, and none of our clients are counting the supplier as a small business, then, until we get more confirmation, we will assign the data the lowest trust score.

Multi-Layered Fraud Prevention

apexanalytix employs robust, multi-layer security systems to protect supplier data and prevent disbursements to incorrect bank accounts. The security measures are grouped into three primary categories: user authentication, data validation and authentication, and bank account protection.

With these real-time validations and monitoring, apexanalytix enables businesses to confidently onboard and manage suppliers while mitigating risks associated with fraud and errors.

User Authentication

User authentication ensures only authorized suppliers interact with the supplier management portal, safeguarding sensitive information. Key features include:

Invited Supplier Access: Only invited users can request changes, blocking unsolicited updates from unknown individuals.

Configurable Password Policy: Clients can enforce password length, complexity, expiration, and history requirements.

Multi-Factor Authentication (MFA): Adds an extra layer of security by requiring a unique passcode sent to a supplier’s registered email when logging in from unfamiliar devices or locations.

Behavioral Monitoring:

• Detects unusual login times or locations (e.g., outside typical business hours or from unexpected regions).

• Triggers alerts for suspicious activity, such as logins from blacklisted IP addresses or flagged countries.

Single Sign-On (SSO): Enables suppliers to set up and manage user access easily, with guidance provided via step-by-step instructions.

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Data Validation and Authentication

These checks confirm the legitimacy of supplier-provided data:

Known Vendor Checks: Verifies if the supplier is trusted and works with other Fortune 500 or Global 2000 companies.

Tax ID & Name Validation: Validates VAT or Tax IDs across 50+ countries and ensures the name matches the legal entity of the supplier.

Email Monitoring:

• Verifies email domain existence, creation date, and matches it to the supplier’s location or entity type.

• Sends alerts to prior email addresses when updates to the supplier’s email or contacts are detected, thus preventing fraudulent updates before critical banking changes.

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Global Suppliers

apexanalytix's supplier management solution was built to manage every supplier in their language, in their local currency and with their specific country requirements in mind.

Global-Market

Language

apexanalytix supports over 40 languages and are equipped to incorporate any language upon request. All language features are client-configurable, supporting regional linguistic preferences.

Our platform currently includes options such as Danish, German, English, Latin American Spanish, EMEA Spanish, Finnish, French, Italian, Japanese, Korean, Dutch, Norwegian, EMEA Portuguese, LATAM Portuguese, Swedish, Thai, Simplified Chinese, Traditional Chinese, Turkish, Arabic, Russian, Polish, and Hindi.

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Currency

Our portal ensures global currency validation for all countries. On top of this, we integrate a daily currency feed from OANDA to provide updated exchange rates. With over 180,000 banking and currency validation rules built into the system, we ensure compliance with international standards.

Additionally, our platform allows data input in multiple languages to seamlessly handle international payments.

Data Quality

Data

Supplier data validation is performed globally, covering key datapoints such as VAT/Tax ID, banking details, physical addresses, and more. This enhanced level of accuracy ensures you stay compliant while facilitating seamless operations.

Continuous Monitoring

After onboarding, suppliers can easily update their information through an intuitive online dashboard, designed to ensure smooth data management. This process is continuously supported by real-time monitoring and validation using over 1,000 global data sources, such as government, regulatory, and third-party databases.

 

By leveraging these extensive data sources, the system goes beyond simple updates—it proactively identifies potential risks, validates critical fields like global tax IDs and bank accounts, and enriches supplier profiles with diverse certifications and compliance data.

 

This continuous monitoring not only ensures data accuracy and regulatory compliance but also provides your organization with a single source of truth for every supplier. This golden record empowers your procure-to-pay initiatives, enabling efficient operations, improved decision-making, and stronger supplier relationships.

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apexanalytix has elevated the way we work with suppliers.
Amy Platis, Director of Finance, APM at Northwestern Medicine Hear Amy's Story
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Time to onboard a supplier went down significantly.
John Kalina, VP Administrative Services at Independence Blue Cross Hear John's Story