Establishing a Single Point of Control Across Multiple Payment Platforms/Geographies
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This case study highlights how a large, global petrochemical company improved their financial shared services operation and capabilities with APEX Analytix’s FirstStrike software solution. Learn how the AP team has gained access to metrics, KPIs, reports and analyses based on data from previously incompatible ERP systems. With information at their fingertips, team members can act preemptively to avoid duplicate payments, standardize processes and procedures, monitor compliance, conduct their own internal recovery audits, and analyze recurring errors. The implementation of FirstStrike eliminated the need to consolidate vital data from disparate payment platforms; protected against duplicates and overpayments on a daily basis; and eliminated previously cumbersome, manual reporting processes.
Benefits achieved from APEX Analytix’s FirstStrike software implementation include:
· In the first 12 months of operation, the company prevented $1 million in duplicate payments.
· Improved cash flow, from identifying vendor discounts owed to uncovering aging credits that remain on the company’s books.
· Faster, easier access to vital reports and data which drives improved performance.
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