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Challenge

Do you know who you’re doing business with?

Regardless of the size of your supply base, one vulnerability in your supplier management processes could lead to long-term reputational or financial loss. Verifying the most critical vendor information at onboarding for accuracy can help protect your business.

62

%

Inefficiencies found during onboarding

Procurement managers reported too many inefficiencies in their supplier onboarding process.

1International Journal of Productivity and Performance Management

$

3

M

Median OFAC fine in 2023

OFAC treats sanctions list violations as a serious threat to national security and as a result, offenders face monetary fines. Two fines exceeded $500M in 2023.

2OFAC

$

750

B

Annual amount loss to payment fraud

These fraudulent activities involve altering or manipulating checks and digital payments, leading to substantial financial losses.

3apexanalytix analysis of ACFE data

Solution

Ensure Data Integrity from the Start

Transform your supplier onboarding with our fast-to-deploy, supplier-facing portal that verifies essential supplier data (tax ID, prohibited lists, etc.), ensures compliance and reduces risks — all in one solution.

 

Leverage our industry-leading data validation, which taps into over 1,000 trusted sources to ensure the supplier data is accurate before it is entered into your ERP.

02 Registration_desktop
Onboard

Faster Deployment

Embrace speed and simplicity with our out-of-the-box supplier onboarding solution that deploys in less than four weeks. Start protecting your company now.

Duplicate Payments

Robust Compliance Validations

The apexanalytix platform verifies supplier information (tax ID, bank account information, address, etc.) and checks against prohibited lists like OFAC. Our robust data validations protect your company and increases visibility into potential vulnerabilities.

An icon showing a supplier being selected

Vendor Master Cleanse

Data in. Gold out. Cleanse your historical master vendor data through our apexanalytix platform. Uncover errors and missing information in your vendor master, safeguarding your company from fraud, preventing fines, and enhancing master data quality.

How it Works

Be confident in your vendor data.

One solution to validate all your supplier data across multiple trusted sources, help your businesses onboard efficiently, prevent fraud, and strengthen compliance.

Step 1

Vendor Master Cleanse

Enhance your historical master vendor data. Our apexanalytix platform will cleanse your vendor master and uncover errors and missing information, safeguarding your company from fraud, preventing fines, and enhancing master data quality.

data_banner
Step 2

Invite Suppliers

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

Invite suppliers to register to your online portal by simply providing contact info and supplier segment.

Invitation
Step 3

Onboard Suppliers

Every supplier is onboarded based on their segment-specific requirements and required fields are dynamically adjusted based on their answers.

Registration
Step 4

Validate Everything

Supplier data is validated in real-time through the integration with 1000+ trusted data sources. Ensure your supplier data is accurate - including address, tax ID, bank account, prohibited/PEP list checks and more.

Validation
Step 5

Approve Suppliers

A supplier profile is approved based on supplier characteristics and validation results. Once the supplier is approved, the vendor record can be transferred by your team into your ERP and/ or other procure-to-pay systems.

Activation
Step 6

Scale for Growth

As your business grows, apexanalytix can scale to meet your evolving needs. With the ability to harness the full potential of our platform, you can integrate seamlessly with other apexanalytix solutions, centralizing all your supplier management requirements within a single, robust platform.

Approvals

  • Cleanse

  • Invite

  • Onboard

  • Validate

  • Approve

  • Scale

Full Supplier Onboarding Solution

Are you prepared for growth?

As your business expands, so does the complexity of your supply chain and the number of suppliers you manage. Our Supplier Onboarding solution is designed to configure to your evolving needs and increasing demands during company growth.

 

Grow into our other solutions and learn how to centralize all your supplier management requirements within a single, robust apexanalytix platform.

 

Learn more
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Case Study: Bank Account Validation

Fraud to Zero:
Blocking Increasingly Creative Fraudsters With Technology That Replaces Manual Processes

“Bank account validation is an evolving practice. We’ve got to find technological advances to help us drive improvement initiatives and help us bring additional value to the company by deploying resources to other areas to create greater value.

apexanalytix gives us the ability to do that.”

Director of Finance & Procurement at a $100B Company

Read the case study
Hacker in the dark at a laptop

As seen in Gartner's Market Guide

Gartner lists 7 key risk factors. We manage all of them.

Read Gartner's Market Guide for Supplier Risk Management Solutions
The-2023-Gartner-Market-Guide-for-Supplier-Risk-Management-Solutions
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Case Studies

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

7x

faster average supplier onboarding
Independence Blue Cross Logo

“Game changing speed. Now we can do same day onboarding.”

Chuck Stefanosky, Supplier Diversity Director

53%

increase in supplier discounts taken annually
2560px-Northwestern_Medicine_logo

“apexanalytix has exponentially changed our whole supplier onboarding process.”

Amy Platis, Director of Finance
Read Customer Story
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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Webinars

AI Makes Supplier Management Touchless at Independence Blue Cross

Read More
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Webinars

End-to-End Supplier Management

Read More
The-2023-Gartner-Market-Guide-for-Supplier-Risk-Management-Solutions
Reports

The 2023 Gartner® Market Guide for Supplier Risk Management Solutions

Download Report

Ready to Roar?

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

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