Use artificial intelligence to improve response rates, speed recoveries and lower your cost per claim
Missed supplier credits can drain your hard-earned profits without you even knowing it’s happening. For the last 29 years, APEX Analytix has been the leading provider of statement audit services to the world’s largest customers. As we did with duplicate payment prevention 20 years ago, we are providing customers with the ability to internalize the statement audit function providing benefits that include increased recoveries, lower costs and improved supplier relationships. By applying our years of experience and incorporating the latest in cognitive computing capabilities with APEX Archimedes™, you can now take what was once a labor-intensive process, tailor-made for outsourcing, to an internal, continuous and touchless statement audit solution. Your suppliers will also love this solution as it provides them with a simple mechanism to keep their financial relationship with you current and avoid unwelcome surprises.
Statement reconciliation has never been so easy
- Predict. With our APEX Archimedes™ cognitive computing system, you can target suppliers most likely to have outstanding credits on their accounts. With our claim likelihood scores, you know precisely where to look.
- Validate. Statement audit requests are meaningless if they fail to reach the right point of contact. Our SmartVM™ database of 20M+ supplier contacts can keep you on track.
- Engage. Automated, micro-targeted supplier outreach can save you significant time and effort. Contact suppliers through outbound email, text and unattended calling campaigns, prioritizing the highest-potential suppliers.
- Reconcile. Suppliers upload statements, online. Our statement audit software automatically reconciles supplier statements against your transaction history and flags unapplied discounts for follow-up.
- Manage. You can track the status of your statement audit in real time so you know whether a supplier statement has been uploaded and reviewed.
- Recovery. With information at your fingertips, you can either review individual claims for recovery or have them automatically exported and sent to your ERP for deduction on a future invoice. For those challenging recoveries, you’re one click away from engaging our statement audit experts to handle the recovery for you. We can even analyze claims to identify the root cause of errors and help you tighten your controls.
Your portal. Done your way.
Mix and match Supplier Statement Audit with other APEX Portal modules to get the features you need.
Supplier Discovery: Source suppliers by searching preregistered suppliers, current suppliers, and our 20M+ supplier SmartVM database of proprietary supplier records with contacts. Learn More.
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.
Increase Response Rates, Speed Recoveries and Lower Your Cost per Claim
Missed supplier credits can drain hard-earned profits without you even knowing it’s happening. Common causes include merchandise returns, markdowns, canceled orders, rebates and credit memos paid as invoices. With the powerful Statements Reconciliation module available with our APEX Portal, you can identify and recover outstanding credits that previously would have remained hidden.