Fortune 100 Media & Entertainment Company Partners with apexanalytix® to Implement Global Supplier Portal
PRESS RELEASE: A well-known leader in family entertainment recently implemented the firststrike® global supplier portal from apexanalytix® LLC, the industry leader in auditing, recovering and optimizing profit in the global financial supply chain.
The portal allows suppliers throughout the world to check invoice status at any moment, negotiate for early payment options, and keep contact information current. The media & entertainment giant has been using apexanalytix firststrike technology for protection against disbursement errors as well as firststrike® Fraud Detect for protection against fraud and other hidden risks since 1998.
"At our global shared service organization, we're focused on utilizing technology as an enabler for driving world-class service, efficiency and value," says Jeffrey Valentino, director, shared services - accounts payable. "The apexanalytix portal modules for supplier registration, self-service invoice and payment status inquiry and dynamic discounting will improve supplier collaboration, further reinforce already strong control functions and drive working capital optimization opportunities."
Valentino's team services suppliers through business partners operating in 27 countries. He notes a main consideration in choosing a portal was finding one that could be used globally and that would integrate seamlessly with their SAP ERP (Enterprise Resource Planning) platform and existing firststrike solutions.
"The portal has been a big win for us," says André Hale, vice president, shared services. "We've transitioned to a new and improved onboarding process for our suppliers that was previously largely performed internally. Suppliers enter their own information, driving quality at the source, and the portal provides supplier risk and fraud checking, bank information validation, tax information verification, and many other checks automatically during the onboarding process. We are also in the process of rolling out the firststrike dynamic discounting capability, as well as the supplier self-service function."
The entertainment company has already implemented the portal in 18 languages in the U.S. and Europe, and will soon move into Asia Pacific.
"We are happy to be working with a long-standing client that has continued to lead in procure-to-pay and shared services best practices," says Steve Yurko, apexanalytix chief executive officer. "With our roots in recovery audit, and 28 years of experience interacting with tens of millions of suppliers, we're able to dramatically speed up and maximize the value and the time-to-benefit to clients, while adding value to the companies we support and their suppliers via enriched vendor data."
Hale notes that everything his company does revolves around driving world-class service globally. "Implementing this supplier portal is yet another step we're taking toward delivering superior service to our suppliers while driving value for the internal business we support."