Start simple, then grow into more advanced options. Start with advanced options...You decide, you change, you evolve, you get results.
Greensboro, NC (PRWEB) May 06, 2015
Dynamic discounting modules have been around for some time. But the features offered exclusively through Greensboro, NC-based APEX Analytix’s module are causing companies to pause and take notice.
APEX Analytix—a provider of services and software to safeguard disbursements, identify fraud and improve performance across the procure-to-pay cycle—recently released its next generation FirstStrike® Supplier Portal. Within the portal, users now have access to a feature-packed dynamic discounting module. Since the introduction of its FirstStrike® software suite in the mid-90s, APEX Analytix clients have used powerful reporting to track discount capture and achieve best-in-class levels of $13 million in discounts per billion in spend. With the introduction of the SAAS-based dynamic discounting module in the FirstStrike® Supplier Portal, clients are able to complement working capital strategies with several valuable features.
So, what’s new? According to Akhilesh Agarwal, vice president of research & development at APEX Analytix, the company’s dynamic discounting module has surpassed the standard features seen in existing Dynamic Discounting solutions. APEX’s list of additional and high-value proprietary features include:
- Discount Likelihood Algorithms. This feature dynamically takes into account supplier activity, historical data and other private and public domain information to enable targeted early payment offers and custom invitations to the buyer’s supplier base. It increases the buyer’s cash flow flexibility and their discounts earned, driving added profits straight to the buyer’s bottom line.
- New early payment techniques. While nearly all dynamic discounting procure-to-pay modules offer a “Get Paid Early” button, APEX Analytix has provided innovative new early payment options to provide suppliers with additional timing and currency flexibility. These options have been shown to increase discounts offered, therefore saving the buyer’s money while getting suppliers paid earlier.
- Communications Engine. This feature allows the buyer’s organization to segment suppliers and, combined with other external and internal data sources, tailor its communication strategy to advertise the program. Do suppliers prefer phone messages, emails, texts or mail? Which contact method should be used and in what order and how many times? Who is the best contact? The engine allows companies to tailor the communications plan, tailor the message and tailor the offer – yet program it all to run in an automated fashion through the software.
- Leverage of the APEX Analytix Accounts Payable Statement Audit process – When companies partner with APEX on FirstStrike® Dynamic Discounting and also partner with APEX on an AP Statement Audit, APEX’s internal systems remind and incent the APEX associates communicating with the buyer’s suppliers to advertise and assist suppliers with the dynamic discounting program. This results in more cash discounts and more statement credits returned to income. Additionally, suppliers get contacted less frequently while getting more value from each contact.
Agarwal also noted that the proprietary design of the FirstStrike® Dynamic Discounting application allows the solution to actually transform with the buyer organization on its growth journey. “Start simple, then grow in to more advanced options. Start with advanced options. Even segment suppliers and have the user interface transform to their level of sophistication,” he explains. “You decide, you change, you evolve, you get results. All with one solution.”
“The unique features in our dynamic discounting application alone are enough to garner interest,” says Walt Kristick, APEX Analytix CIO. “However, when you add in the fact that the module is supported by our robust supplier portal—which can be paired with our fraud detect software and our procure-to-pay controls and analytics technology as well as the buyer’s ERP system—we believe that companies will see the extreme value APEX is offering.”
About APEX Analytix
APEX Analytix helps companies maximize their profitability and safeguard disbursements globally. Our innovative people, processes and FirstStrike® technology have transformed the audit recovery industry, saving our clients billions and making APEX Analytix a leading global provider of recovery audit, overpayment detection and risk analysis services. For more information, visit http://www.apexanalytix.com.