Today’s complex global business environment is riddled with risks that can drain a company’s revenues and impact profitability.
ORLANDO, Fla. (FUSION 2013) (PRWEB) May 21, 2013
Today APEX Analytix announced it is adding nearly 60 new features, enhancements and product innovations to its industry-leading FirstStrike® platform – a family of payment and supplier controls and reporting applications used by shared services and procure-to-pay organizations around the globe. The same software is used by APEX Analytix internally to deliver value-added recovery audit services.
Today’s announcement was made during FUSION 2013, a conference sponsored by the Institute of Financial Operations.
FirstStrike automates labor-intensive accounts payable and procurement functions in order to detect and resolve costly errors. To date the software has saved companies billions by identifying duplicate payments, overpayments, missed credits and fraud. Many firms realize a total return on their investment within days or weeks of adding FirstStrike to their operations.
Among the new features and functions now available with FirstStrike are nearly two dozen capabilities specifically requested by Fortune 500 and Global 1000 clients.
“Today’s complex global business environment is riddled with risks that can drain a company’s revenues and impact profitability,” said Steve Yurko, CEO of APEX Analytix. “Collaborative relationships with our user community and open lines of communication and feedback have helped us anticipate trends and target important new innovations to our core platform. As a result, we’re able to deliver solutions that lead the industry in recovery, prevention and improvement in financial shared services and procure-to-pay.”
Examples of the new capabilities APEX Analytix is adding to FirstStrike are:
- Expanded tax analysis and reporting tools that make it easier to uncover overpayments and file claims to recoup both sales and value-added taxes.
- Enhanced fraud detection capabilities that add new layers of data matching and comparative analysis.
- Invoice exception routines that can automatically identify incorrect payments and strengthen a company’s duplicate payment prevention controls.
- Enhanced cash discount management functionality that makes it easier to identify suppliers with outstanding invoices and to offer them a shorter payment interval in return for a cash discount – boosting a company’s bottom line.
- Expanded duplicate payment routines that can identify and analyze potential problems by vendor group and at low-level payment thresholds for improved protection.
- Expanded reporting and analysis tools, including vendor-level reports for trial balance and invoice reconciliation.
- A new pricing exceptions tracking workbench that can be used to monitor the progress of pricing claims.
FirstStrike is available as licensed software, as a cloud-based service accessible over the Web or as part of an APEX Analytix audit. Spring 2013 enhancements will be deployed to APEX Analytix FirstStrike clients over the next few months.
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 the world’s leading provider of recovery audit, overpayment detection and risk analysis services. For more information, visit http://www.apexanalytix.com.