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Challenge

Credit is risky business.

Manual processes can lead to errors, incorrect credit limits, high days sales outstanding, and interruptions in cash flow, challenging businesses in evaluating supplier and customer creditworthiness.

11.2

hrs

Manually onboarding a new supplier

Manually onboarding a new supplier takes an avaerage of 11.2 hours of total processing time.

1Ardent Partners

78

%

Manually managaing third party registrations

Procurement teams spend over 10 hours per week managing third party registrations and collections manually via email and spreadsheets.

1Procurement Leaders Report

91

+days past due

High Days Sales Outstanding (DSO)

Report shows that 18 of the 225 industry segments report 10% or more of their aging dollars are 91+ days past due.

1Accounts Receivable and Days Sales Outstanding Industry Report from Dun & Bradstreet and the Credit Research Foundation

Solution

Validate. At the start.

Our third-party registration solution is designed to streamline the registration process for suppliers, customers, and partners.

It addresses common pain points such as manual processes, operational lift, financial risks, and fraud, while providing gains in efficiency, accuracy, and business opportunities.

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Automated Onboarding

  • Automated Onboarding

  • Email Exchanges

  • Credit Check Process

  • Fraud Detection

Automated Onboarding Process

An automated onboarding process guides third parties through the registration process, ensuring all steps are completed correctly.

Email Exchanges

Email system sends out necessary forms, documents, and instructions to third parties. It also tracks responses and sends reminders if needed.

Credit Check Process

An automated credit decision system assesses a third party’s creditworthiness quickly and accurately using algorithms and machine learning.

Fraud Detection

Advanced analytics and machine learning detect patterns and anomalies that might indicate fraudulent activity, helping to mitigate financial risks and decrease fraud.

Related Use Cases

Go from idea to impact with proven procure-to-pay solutions.

Explore how we have helped global organizations overcome the same obstacles that you are facing right now.

Fraud Prevention

Fraud Prevention

No one bank account change control will prevent payment fraud. Layers of protection are needed to prevent the many different techniques of evading your controls.

Risk Management

Supplier Risk Management

Ask suppliers the right questions at the right time with pre-built and highly configurable supplier journeys for an accurate picture of risk in your supplier ecosystem.

Bank Ownership

Bank Account Ownership Validation

The most effective bank account change control is automated validation directly with the bank. It isn’t available everywhere, but needs to be part of payment fraud prevention program.

Vulnerability

Cyber Vulnerability & Threat Assessments

Your suppliers' cybersecurity is now your problem. Scan the open and hidden internet to identify suppliers that are high risk for a cyber attack: ransomware, BEC scams or data breaches.

ESG

ESG Compliance Programs

Rapidly close global compliance gaps and deliver on your strategic ESG objectives with out-of-the-box best practices, premium data and supplier-facing collaboration.

Early Payments

Early Payment Programs

Maximize supplier adoption and discounts captured with an early payment program built into your supplier onboarding and management program.

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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.

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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.

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Supplier Risk Management

Disrupt the disruption.

Prevent fines, fraud and supply chain disruptions with continuous monitoring of your supply base – without the noise.

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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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Customer Stories

Proof is in the data.

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. We previously had a paper-based onboarding process and now we can do same day onboarding.”

Chuck Stefanosky, Supplier Diversity Director

53%

increase in supplier discounts taken annually
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“apexanalytix has exponentially changed our whole supplier onboarding process.”

Amy Platis, Director of Finance
Resources

Want to learn more?

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

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Product Briefs

Supplier Registration Overview

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Webinars

RVCF: Streamlining Supplier Registration

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Apex-CaseStudy
Case Study

Transforming Supplier Registration Globally with Portal Technology

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Ready to roar?

Fill out our contact form and we will be in touch shortly to discuss how the apex platform can help you with third-party registrations.

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