Get your house in order. Guard the front door. Lock the back door.
APEX Portal Supplier Information Management is the first and only solution comprehensive enough to get and keep your vendor master in the best possible condition to prevent fraud and processing errors and to enable your procure-to-pay strategy. We see this as a three-pronged process.
- Get your house in order with our SmartVM® Service, the most comprehensive vendor master cleansing and enrichment service available on the market, paired with expert FirstStrike® Vendor Risk Analysis Services performed by Certified Fraud Examiners. Together, these solutions remediate any problems that may exist in your vendor master and bring your existing records up to world-class level.
- Guard the front door with the Supplier Discovery and Supplier Registration Modules, which fully automates supplier onboarding, validation, approval, and vendor master updates for 100% of your supplier base. Fully customizable data and document capture; real-time validation against over 400 external government, regulatory, and authoritative third-party databases; integrated fraud risk scoring; automated workflow approval; and bidirectional integration with all of your P2P systems creates a touchless system for managing your supplier data.
- Lock the back door with FirstStrike Fraud Detect and SmartVM Subscription to continuously monitor for vendor changes, regulatory issues and fraud risk.
What our clients tell us makes the APEX Portal Supplier Information Management Solution different and better than “end-to-end P2P networks” and other SIM solutions?
- Custom-Tailored Fit. Every company’s business requirements are unique. Their control environments, P2P strategies, ERP-landscapes, and regulatory environments vary widely. Their requirements change over time, whether due to mergers and acquisitions, changes in leadership, or business conditions. And government regulations change constantly. The APEX Portal, with its powerful business rules engine, gives companies the configurability to custom-tailor the supplier onboarding and ongoing maintenance process to their own environments and the flexibility to quickly adapt to changes over time.
- Built-In Compliance. Compliance, whether with regulatory requirements, company policy or P2P strategy, is fully automated. The APEX Portal is pre-integrated with over 400 government, regulatory, and authoritative third-party databases and lists to validate everything in real time. Supplier banking information, tax IDs/VAT registration numbers, global addresses, minority/diversity statuses, industry codes, prohibited watchlists (OFAC and others), FACIS-compliance (for healthcare) are all covered. Proprietary fraud risk scoring is available, too, to identify suspect suppliers and employee fraud.
- 20M+ Suppliers. Rather than logging onto a third-party network, suppliers log onto a portal that is branded (and tailored) for their customer. However, each portal is integrated with APEX Analytix’s proprietary SmartVM database of scored vendor master records with verified contacts for 20M+ suppliers to the Global 1000. The SmartVM contact data makes it easy to engage suppliers and the prebuilt “best possible supplier records” convert the supplier registration experience from a cumbersome “key everything from scratch” to a simple “confirm and update.” The result is greater confidence in the system; more complete and more accurate supplier records; and higher supplier adoption.
A Hub for Everything P2P. The best time to enforce P2P strategy and drive adoption of P2P initiatives – whether standard payment terms, e-procurement, e-invoicing, electronic payment or data protections agreements – is at the time of supplier onboarding. That is when you have the supplier’s attention and they are most compliant. The Secure Open Adapter built into the APEX Portal makes it easy to tie all of your P2P systems into the supplier onboarding process, with single sign-on, integrated navigation, integrated account setup and integrated data. The result is a single, seamless user experience for suppliers and greater adoption. Configurable business rules allow flexibility by supplier type or other supplier characteristics. Suppliers get a consolidated dashboard for everything you need them to do.
Your portal. Done your way.
Flexible APEX Portal modules cover the full day in the life of a supplier.
Supplier Discovery: Source suppliers by searching preregistered suppliers, current suppliers, and our 20M+ supplier SmartVM database of proprietary supplier records with contacts.
Supplier Registration: Fully automate supplier onboarding; enforce policy and global governance, risk management, and compliance rules; promote strategic initiatives; and update all of your enterprise P2P systems. Learn More.
E-invoicing: Connect to your own e-invoicing provider, our APEX Analytix partner, or our Simple E-invoicing solution. Learn More.
Supplier Inquiry: Offer your suppliers 24/7 online access to invoice and payment status, in their own language. Learn More.
Dynamic Discounting and Supply Chain Financing: Make the most of your working capital with dynamic discounting, supplier auctions and flexible supply chain financing options, powered by predictive analytics and a world-class, microtargeting, multichannel marketing engine. Learn More.
Supplier Statement Audit: Automate your supplier statement audits for faster recoveries and a lower cost per claim. Learn More.
Realize the Business Benefits of the Best Possible Vendor File
APEX Analytix audit experts say nearly 30 percent of all duplicate payments are the result of duplicate vendors or coding issues in a company’s vendor master database. That makes maintaining a clean vendor master an important business imperative. But it can take extensive time and effort unless you have the right tools and the experience.
Vendor Risk Analysis Service Brochure
You may think your vendors represent little potential risk to your organization, especially if you have prevention-based controls in place. Yet the threats can be real—from costly fraud scams to questionable business practices. Failing to vet suppliers completely can impact your profitability and even tarnish your brand. APEX Analytix offers comprehensive Vendor Risk Analysis services that can give you the upper hand. Want to know more?
Vendor master files are the foundation of everything that happens in procure to pay – from who gets paid to how and when. APEX Analytix SmartVM™ Vendor Master Cleansing and Enrichment Services can help you mitigate risks and eliminate costly vendor master gaps. Want to learn more?