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Challenge

Breakthrough the Barriers to Supplier Adoption

Discover how our technology along with our experienced cash management team maximizes supplier acceptance and discounts by addressing common blockers that hinder the adoption of early payment programs.

27

%

of businesses take full advantage of early payment discount offers. 1

In a recent IOFM survey, most companies received invoices with early payment offers, yet, only 27% of these companies fully utilized the discounts. The companies who fully utilized their discount program saw an acceptance rate of over 80%.

1Institute of Finance & Management AP Benchmarking Report

7

X

likelihood AP organizations using automated solutions capture early-payment discounts versus their peers. 2

According to the Hackett Group, best-in-class accounts payable organizations who adopt automation into their processes capture seven times more early-payment discounts compared to their peers.

2The Hackett Group’s Benchmarking Report

8

/10

suppliers would accept a discount in exchange for an early payment. 3

Suppliers benefit from improved cash flow, less risk of nonpayment, and better access to capital. Furthermore, more than half of AR leaders agreed that their department's primary goal is to lower DSO, so they would be willing to agree to an early payment discount.

3Mastercard's Creating Payments Energy Report

Solution

Max supplier adoption.
Max discount yield.

apexanalytix’s approach to supplier management streamlines all communications into a single channel, covering everything from onboarding and ongoing management to procure-to-pay initiatives.

 

This single-platform approach unifies internal teams and facilitates the adoption of early payment programs – maximizing their impact.

 

Our early payment program leverages supplier behavior and a database of 250M+ supplier records as the foundation for supplier engagement. Using segmentation, predictive analytics and automated marketing means your offers are presented at the right time to the right suppliers at the maximum rate.

 

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Dynamic Discounting

  • Dynamic Discounting

  • Auction Marketplace

  • Supply Chain Financing

Dynamic Discounting

Fixed early pay discounts can produce risk-free, double-digit returns. To capture even greater returns, adopt dynamic discounting initiatives on a sliding scale – pay any time before the invoice is due.

Supplier-initiated Auction Marketplace

Set up online auctions where suppliers make discount offers and compete for your early payment revenues. Set thresholds to determine which offers are rejected, approved or sent for review.

Supply Chain Financing

Helps you support your suppliers and your early payment programs while holding onto your cash. Third-party funders pay suppliers early for a discount, while you pay the full invoice amount on the original due date to the third-party funder.

Features

Turn Accounts Payable into a Profit Center

We can help you experience the benefits by automating every aspect – from initial program design and marketing to backend reporting.

Discount

Flexible Discount Programs

Design multiple types of discount programs and offer them to some or all of your suppliers. You can also monitor acceptance rates, track profitability, and adjust your strategy over time.

CDL

Predictive Analytics Technology

Use our benchmark data and our proprietary Cash Discount Likelihood (CDL) scoring model to predict which suppliers will accept an early payment in exchange for a discount and at what rate.

Integration 02

Seamless Integration

Our secure open adapter seamlessly integrates with ERPs, e-invoicing solutions, and any other source-to-pay solutions. When suppliers accept early payment offers, your systems automatically update.

Scheduled

Market Your Offers

Automate your early payment marketing with scheduled email campaigns based on segmentation. Communicate with the right suppliers by leveraging our database of 250M+ validated supplier records.

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Seasoned Support Team

Our expert cash management team will work directly with your suppliers to increase discount acceptance and help support the buyer-supplier relationships.

Database

Comprehensive Supplier Data

Utilize our database of 250M+ validated supplier records enriched from over 1,000+ trusted sources. This is data leveraged within our CDL scoring model, analyzes supplier characteristics and past discount acceptance to ensure early payment program success.

Our Scoring Method

Cash Discount Likelihood (CDL) Scoring

Our proprietary machine-learning process, developed with input from treasury and finance experts, utilizes predictive analytics to determine the likelihood of a supplier accepting a discount.

Step 1

Onboard Suppliers

As part of apexanalytix's supplier onboarding, we collect data (address, tax id, SIC code, etc.) and validate it against 1,000+ trusted sources to ensure the vendor data is complete, robust and accurate.

When spend data is integrated into our platform and suppliers are using our supplier-facing inquiry portal for invoice and payment visbility, behavioral data is gathered.

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Step 2

Correlate Supplier Data with Spend Data

Gather verified vendor data such as contact information, country, SIC code, spend patterns and activity from the apexanalytix database. Integrate these with our $25B proprietary spend insights, including transactions, payment terms, behavior and other industry data.

Our technology matches the vendor data with spend insights to build a comprehensive profile of each supplier.

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Step 3

Generate CDL Score

After conducting a thorough analysis of all collected data points in the comprehensive supplier profile, our platform utilizes machine learning techniques to create a consolidated propensity data point, known as the CDL Score.

This score predicts the likelihood of discount acceptance and identifies the optimal discount rates to offer, maximizing impact on working capital.

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Step 4

Communicate Offers

Using the CDL Score, we present tailored discount offers to targeted supplier segments through the apexanalytix-powered portal, email, and text.

Offers are displayed on a sliding scale, allowing suppliers flexibility to select the best combination of discount rate and payment date to suit their working capital needs.

Invitation

  • Onboard Suppliers

  • Compare Data

  • Generate CDL Score

  • Communicate Offers

Supplier Experience

All Suppliers, All Invoices, All the Opportunities

apexanalytix can extend early payment offers to 100% of suppliers regardless of invoice submission method.

 

Making your early payment program accessible and convenient from day one encourages more suppliers to take advantage of offers and maximize the program’s ROI.

Supplier Relationships
Supplier Benefits

Give Suppliers Offers and Options

Engage every supplier with a single self-service dashboard at onboarding and throughout the supplier lifecycle.

Make Accepting Simple

Simplify the supplier experience with one-click acceptance via email. No login required. Make it even easier by giving suppliers the option to enroll in “always accept early payment offers”.

Provide More Ways to Get Paid

Allows suppliers to get an immediate payment using a wire transfer instead of ACH (or equivalent) with an additional discount percentage.

Segment Your Offers

Customize offers based on supplier segment: product or service categories, supplier size, location and more.

Deliver Flexibility

Provide flexible discount options: all invoices, one-offs, and supplier-initiated.

Automate Your Marketing

Automate discount offer marketing for any frequency: every week, bi-weekly, or at the end of every quarter.

Suppliers want to talk?

apexanalytix’s cash management experts work directly with your suppliers to manage relationships and increase discount adoption rates.

Resource

Best Practices for Early Payment Programs in 2024

Early payment programs can be a win-win for both buyers and suppliers. To maximize the success of your early payment program, we recommend following these six best practices.

Read More
Onboarding
Supplier Management

Transform your entire supplier management program with apexanalytix's solutions

Streamline your supplier onboarding process with a self-service portal that automatically validates supplier data and ensures compliance. Our touchless solution eliminates the time-consuming and error-prone manual onboarding tasks.

Onboard

Faster Onboarding

Remove the collection of data via email exchanges with a supplier-facing portal.

Questionnaires

Pre-built Supplier Questionnaires

Best practice, pre-built supplier questionnaires in ethics, IT, financial standing, business continuity planning, and highly configurable templates.

Validations

Real-Time Data Validation

1000+ trusted data sources to validate tax IDs, bank account, address, prohibited/PEP lists and more.

Integration 02

Foundational Agnostic Technology

Integrate any P2P solution to simplify the admin and supplier experience.

Workflows

Customized Workflows

Ensure compliance with highly configurable workflows that can be easily updated by the P2P team.

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Single Source Of Truth

Bi-directional integration with every ERP to keep all data synced all the time.

Related Products

Leverage a Ecosystem of Supplier Management Solutions

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Supply Chain Financing

Need the capital to support your suppliers while taking advantage of early payment programs? We can help.

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Supplier Management

Invoice & Payment Visibility

Our self-service portal with a single consolidated global view of invoice details across all ERPs and P2P systems.

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Resources

View Our Content Library

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

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Webinars

Optimize Payment Terms and Working Capital with AI

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Webinars

How Northwestern Medicine Uses Their Supplier Portal to Drive Compliance, Reduce Fraud and Improve Working Capital

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Webinars

Overpayment Prevention: The Fastest Way to Increase Working Capital During Market Uncertainty

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