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Challenge

Why do overpayments happen?

We call it the "one-two punch." The biggest root cause of overpayments is the combination of major disruptions and enterprise obstacles.

Major disruptions, like ERP migrations or eInvoicing deployment, happening in tandem with enterprise obstacles like poor vendor master data or invoice submission problems, leave organizations vulnerable to spikes in overpayments.

$

130

M

in overpayments slipped through controls over three years.

Fortunately, these overpayments were identified and prevented by apexanalytix, along with thousands of historical duplicate payments were missed by this company's prior recovery audit provider.

Read the full story here.

$

9

M

in duplicates payments that weren't caught, despite two layers of controls: ERP and internally-developed duplicate software.

apexanalytix was brought in to help and achieved almost 100% ROI on the day our Overpayment Prevention solution was implemented.

Read more here.

$

100

M+

duplicate payments prevented annually.

A global AP organization rolled out Overpayment Prevention as part of their comprehensive controls program. Watch the on-demand webinar for their three step process to turn AP into a profit center. 

Watch now.

Solution

Prevent duplicate payments your ERP doesn't catch. In real time.

apexanalytix Overpayment Prevention compares invoices and payments processed and finds and even predict duplicate payments. It connects to all ERPs and payment systems so you won’t miss a duplicate no matter how you pay.

 

Companies worldwide prevent overpayments, uncover missed credits, audit historical disbursements, analyze the root causes of errors and track operational performance.

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Solution

Resolve exceptions. Fast.

Create tasks to communicate with internal employees or external suppliers about an exception. Assign the task to them for resolution, and capture data around the corrective process, such as:​​

 

             • Reason for creating the task​

             • Status of the task (new, in progress, completed)​

             • Number of days since the task was created​

             • Links to associated documents​

 

This data also allows you to report on the efficacy of your overpayment resolution. ​

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Solution

Understand why and how overpayments occur.

The apexanalytix Overpayment Prevention application comes with an Insights Dashboard that displays pre-built reports that can be filtered by supplier segment, including:

 

Confirmed Exceptions

A graph of all exceptions per million dollars spent over a specific timeframe.

Internal Performance Metrics

Analyze performance based on factors like AP processor, company code, data source, region, or supplier.

Auto-Resolution Rate

A chart to compare how many resolutions were manual vs. auto-assisted.

Root Cause Analysis 

Inconsistent invoice amounts/dates/coding, vendor coding error, multiple related vendors.

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Solution

Hear from our clients.

"The first year, it detected about 2 million in duplicate payments."

Solution

Industry leaders prevent overpayments with apexanalytix.

A multinational consumer goods company and apexanalytix client of 12 years has prevented more than $1.2B in overpayments since the beginning of our partnership.

For a US-based fast-food franchise, we prevented $3.4M in duplicates in just four months.

An e-commerce giant averages $120M in annual duplicates prevented, and an international shipping enterprise has kept $1.5B in overpayments from going out the door over our seven-year relationship.

Kimberly

“The success we’ve achieved has raised our visibility within our broader systems community."

Systems Accounting Manager, Finance Shared Services, Global Defense Industry

Supplier Relationships

“We now have better insights into our business processes, controls and suppliers."

Shared Services AP Manager, Global Retail

industry-compliance-

"Your innovative, prevention-based model positively impacts the company’s bottom line."

Director, Disbursement & Receivable Processes, Global Transportation Industry

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“No other company could offer us the technology that apexanalytix brings to the table."

Director of Finance Operations, Global Technology

Vermillion Rock Formation AZ

“Within 90 days the technology was ready to use and adjusted to meet our needs.”

Director, Purchase-to-Pay, Global Pharmaceutical

Features

Purpose-built by recovery experts.

Our Overpayment Prevention tool is used every day by our expert recovery auditors who have been recovering overpayments for over 35 years.

Benefits Beyond Recovering Money
Integration 02

Bi-Directional ERP Integration

Bidirectional integration with ERPs via certified extracts, so you can automatically correct or block duplicate invoices from being paid, in real time.

Report

Built-In Reporting

You benefit from built-in analyses and reports that give transparency into how a duplicate payment happened, so you can make corrections at the source. Pre-configured reports include: Exceptions by Status, Aging of Unworked Exceptions, and Confirmed Exceptions by Reason.

Analysis

Dashboards for Easy Analysis

User-level and Executive Summary-level dashboards provide snapshot reports into the details of overpayment exceptions. Instantaneously give stakeholders visibility into the status of overpayments.

Value-Reporting

Custom Report Creation

Generate custom reports on demand. You’ll have complete visibility into every aspect of your procure-to-pay operations so you can track and manage performance, isolate problems, uncover savings and improve your internal controls.

Data Extracts

All Transactions, Any Time, Any Where

The same powerful tools can be used to audit historical disbursements, build automated claims and manage the recovery process.

Workflows

Supplier-Facing Workflows

Expedite collaboration with suppliers around identified exceptions.

Data Quality

Any Data, Any System

Automatically extracts data from any system or payment platform, anywhere in the world. Supplier files, invoice and disbursement data, purchase orders and P-card files can be normalized and reviewed as a consolidated whole.

Secure

Secure Environment

Comprehensive security–from data encryption to rigorous access controls.

Audit Services

Get the whole picture of overpayments with recovery audit services.

Recovery Audit

Accounts Payable Recovery Audit

75% to >90% of recoveries are statement credits. Accounts payable recovery audit finds them all, plus any debit balances or duplicates you've missed.

Compliance

Contract Compliance Recovery Audit

You spend a lot of time negotiating favorable terms to save your company money. But contract compliance audits are finding more than ever.

Recovery

Unclaimed Property Recovery Audit

There's money out there for all your business entities in states, counties, cities, agencies, and even foreign governments. We can help you find it.

Flexible pricing for contract compliance recovery audit services

Sales and Use Tax / VAT Recovery Audit

Our comprenensive sales and use tax audits tame your complex tax challenges. Protect your bottom line and ensure that you pay only what you owe.

Related Products

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Protect your company’s reputation and revenue from the first time you engage with a supplier and throughout the supplier lifecycle.

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Supplier Management

Every. All. 100%

A single, central supplier hub for every supplier, all of your policies and integration with 100% of your source-to-pay systems.

Learn more.
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Intelligent Data

Data In. Gold out.

The fastest way to validate and enrich your third-party data with APIs tapping 1,000+ trusted data sources and 100 million company golden records.

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Supplier Risk Management

Disrupt the disruption.

Catastrophic disruptions caused by supplier fraud and risk could happen anytime, to any business. Protect yourself with proactive supplier risk management technology.

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Audit and Recovery

$9 billion in overpayments prevented or recovered annually.

More insights. More expertise. More supplier intelligence. More recoveries than any other provider in the world.

Learn More
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Customer Stories

Peak performers
pick apex.

Whether long-form webinars or in-person conference presentations, our clients love to share best practices - what drives measurable value - with their peers.

View All Customer Stories

$130M

Duplicate payments prevented over three years

Using technology-based controls to protect, analyze and manage accounts payable

Global Pharmaceuticals
Read the case study

75%

Decrease in duplicate payments

Establishing overpayment and fraud controls across multiple systems

Global Holding Company
Read the case study
Resources

Want to learn more?

Hundreds of product overviews, reports, customer-led webinars and on-demand product demos.

View All Resources
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Case Study

Transforming Duplicate Payment Controls to Deliver Continual Value

Read More
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Product Briefs

AP Controls

Read More
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Webinars

AP’s Enemy: CHANGE

Read More

Ready to Roar?

Fill out our contact form and we will be in touch shortly to discuss how the apex platform can solve your overpayments.

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