Anything that you have to touch multiple times a day is a hidden factory. You need to figure out a way to build automation and safeguards so that those things are not consuming your daily activities."
- Katarina Veljkovic, Director & GPO, Accounts Payable, ChampionX
Overview
ChampionX, a global leader in oilfield technology solutions, sought to enhance its financial controls and streamline its accounts payable processes.
Through its engagement with apexanalytix and the Overpayment Prevention solution (formerly FirstStrike), ChampionX successfully prevented duplicate payments, improved efficiency, and strengthened its supplier relationships.
Challenges
Following a major corporate transition involving divestiture and system redundancies, ChampionX faced integration challenges that disrupted financial oversight.
Recovering these overpayments was both time-consuming and resource-intensive, requiring intervention from multiple departments, including procurement and finance.
Solution
After identifying missed overpayments through FirstStrike, ChampionX expanded Overpayment Prevention to cover Oracle and other ERPs to detect and stop duplicates before they happen. This identified $1.5 million in potential duplicate payments.
The system’s advanced algorithms and real-time monitoring capabilities allowed for greater financial accuracy and control.
More importantly, the addition of a dedicated account manager ensured a seamless experience, minimizing the need for manual oversight.
Implementation and Key Results
ChampionX’s Overpayment Prevention implementation significantly improved efficiency, reduced financial risk, and strengthened supplier relationships.
- Efficiency Gains – A single employee, supported by a backup and SME, manages the system in just a few hours per day. False positives decreased, allowing a focus on high-risk claims.
- Cost Savings – A 2022 audit found $1.5 million in duplicate payments, 17% of total overpayments. The system prevented further losses and reduced time spent on recovery.
- Process Optimization – Reduced supplier disputes and manual intervention, improving invoice accuracy and payment validation.
- Automation & Reliability – ChampionX eliminated inefficiencies, with automated safeguards ensuring accuracy. As Global Process Owner Katarina Veljkovic put it:
“It’s just a safeguard that’s in place where I don’t have to think about it every single month.”
By automating financial controls, ChampionX minimized errors, saved resources, and optimized financial operations.
Client Perspective
Katarina Veljkovic, Global Process Owner at ChampionX, emphasized the importance of both the software and the dedicated support provided by apexanalytix.
“I don’t have to think about whether Overpayment Prevention is working—it just does. apex provides transparency, points out anomalies, and ensures that everything runs smoothly.”
Veljkovic also highlighted the broader organizational impact:
“Overpayment Prevention allows us to focus on strategic initiatives rather than chasing down duplicate payments.”
Conclusion
ChampionX’s experience with Overpayment Prevention showcases the importance of automated financial controls in modern business operations.
By reducing payment errors and streamlining accounts payable workflows, the solution has delivered tangible ROI while enabling the company to focus on core financial and operational priorities.
For organizations facing similar challenges, Overpayment Prevention provides a robust, scalable solution that enhances efficiency and ensures financial accuracy.
System changes can create costly payment risk—protect your AP process with automated prevention. Contact us to talk with Sales.
