Overview
Following a competitive RFP in 2023, apexanalytix was selected to replace an incumbent recovery audit provider for a global technology company working across multiple industries. The organization initiated the RFP after determining that too much internal, manual effort was required while working with the incumbent recovery audit firm. Effort was needed to validate recovery audit findings, follow up with suppliers, and ultimately recover funds.
The transition marked a clear turning point.
Drawing on insights from more than 200+ recovery audits conducted annually, apexanalytix brought a rigorous, data-backed approach unmatched in the market. As the world’s largest commercial AP recovery audit firm, apexanalytix combines expert recovery auditors with AI-powered technology to generate three distinct types of intelligence—supplier, contact, and transactional—enabling more precise identification of recoveries and faster, more effective engagement with suppliers than traditional approaches.
apexanalytix’s depth of experience, paired with a trust- and respect-based approach, enabled the organization to recover previously unrealized value while ensuring overpayments were identified—without disrupting time, processes, or critical supplier relationships.
Key Reasons Why apexanalytix Was Chosen
- 35+ years of commercial AP recovery audit expertise and a global team that works with suppliers in their time zone and their language.
- 200+ AP audits conducted annually for the largest companies in the world across every industry.
- 280 million supplier records with scoring to indicate which contacts are best to reach out to for statements and resolve claims.
- $9B overpayments prevented or recovered annually that constantly refine predictive analytics to identify and recover funds faster.
- Technology and people: combining expert recovery audit teams with AI-powered intelligence to deliver stronger results.
- A respect-based approach that respects client and supplier time, process integrity, and relationship continuity.
- A future-state focus that goes beyond recovery by identifying root causes and helping clients prevent recurring errors for stronger long-term outcomes.
Situation
Based on client feedback and outcomes, many recoveries identified by the prior provider required significant internal effort to validate and collect, and numerous opportunities were left unaddressed. The below benchmark recovery results suggested that the prior approach lacked the depth of analysis and supplier engagement required to maximize recovery potential.
As a global organization, the company engaged apexanalytix to audit its North American operations. At the time, the business was processing millions of invoices across a large and complex North American supplier base. From January 2021 through June 2024, more than 4 million invoices, representing $30B in auditable expenditures, were in scope. Without a provider willing to deeply analyze data, consistently engage suppliers, and see recoveries through to completion, substantial value remained at risk.
Solution
apexanalytix implemented a multi-year, multi-layered recovery audit approach designed to address the gaps left by the prior provider. This included:
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A comprehensive disbursement review spanning multiple years
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A supplier statement review focused on 90-day aged credits
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Direct, persistent supplier engagement to validate and recover credits
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Trend analysis across audit cycles to uncover recurring root causes
Unlike the prior approach, apexanalytix assumed full ownership of the recovery process to ensure credits were validated, issued, and fully collected on the client’s behalf.
Results
The first audit cycle under apexanalytix delivered recoveries across 835 claims, supported by an over 80% supplier statement response rate. Recoveries were highly concentrated, with three suppliers accounting for 28% of total recoveries, reinforcing the value of targeted supplier-level analysis.
Since 2021, 315 return-related credits totaling $1.5M were identified, making returns the largest recovery category by dollar value. These returns were driven by goods sent back to suppliers where credits were not properly communicated to accounts payable, which was a breakdown that had largely gone unaddressed under the prior provider.
The audit revealed that return-related credits were frequently delayed because supplier credit memos were not consistently anticipated or reconciled through goods receipt/invoice receipt processes. This finding highlighted a major process gap and demonstrated how deeper analysis could surface recovery opportunities that had previously been overlooked.
Top 6 Root Causes for Overpayment Recoveries
1. Returns & Cancellations
Example: Credits for returned goods or canceled services were never issued or communicated to accounts payable, resulting in an overpayment.
Recommendation: Strengthen communication between operations and AP so returns and cancellations are shared immediately and require suppliers to issue credit memos promptly for all returned or canceled items.
2. Cancelled Invoice, Contract or Service
Example: Unprocessed credits often occur when lines of business do not communicate cancellations or changes quickly, even though they typically know about these adjustments first.
Recommendation: Process or accrue expected credits as soon as they are identified and reduce blanket POs by adjusting available PO funds when changes occur.
3. Overpayment
Example: The company paid more than the correct amount due, often because of tax errors, billing mistakes, incorrect supplier selection, or system issues.
Recommendation: Implement stronger invoice validation checks—especially for tax, supplier selection, and billing accuracy—and requiring exception review for high-risk or unusual invoice amounts.
4. Inconsistent Invoice Coding
Example: Invoices are coded incorrectly or differently than expected, which can cause them to be routed, recorded, or paid incorrectly.
Recommendation: Be consistent through clearer processes, better personnel training, and stronger system checks.
5. Duplicate Payments
Example: Duplicate payments identified through the supplier statement review process that are either undetectable in the data or fall outside of the range reviewed in the disbursement review.
Recommendation: Review more supplier statements regularly and improve data reconciliation so duplicates missed in normal reviews can be identified sooner.
6. Real Estate/Lease/Cam Credits
Example: Results from lessor adjustments that are not communicated to the real estate area and/or the accounts payable department.
Recommendation: Implement a formal, centralized communication and reconciliation process between the real estate, lease administration, and accounts payable teams to ensure all lessor adjustments are consistently captured and applied.
Conclusion
By coming in behind a prior provider, apexanalytix demonstrated how access to richer data—combined with deeper analysis, stronger supplier engagement, and full ownership of the recovery process—can materially improve results. Where earlier efforts left value unrealized and required internal follow-up, apexanalytix delivered a more thorough approach, identifying, validating, and fully recovering funds owed.
During apexanalytix’s first audit cycle, the organization recovered more than their prior provider recovered during the preceding 5 audit cycles.
The strength of these results validated the provider change and led to a continued engagement. Now in its second audit cycle with apexanalytix, the organization is leveraging insights not only to recover value, but to reduce recurring issues and move toward a stronger future state.
