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APEX Analytix Releases Next Generation FirstStrike® Supplier Portal

Contributor: Press Release SSON
Posted: 10/23/2014
Press Release SSON
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New Supplier Portal from the Global Audit Firm Simplifies Supplier Onboarding

Greensboro, NC (October 16, 2014) – APEX Analytix, a leading provider of services and software to safeguard disbursements, identify fraud and improve performance across the procure-to-pay cycle, has released the next generation of its FirstStrike® Supplier Portal. FirstStrike® Supplier Portal is a powerful, easy-to-use solution that automates the supplier registration process, provides 24x7x365 self-service to suppliers, dynamically presents discounts, and offers an e-invoicing and purchase order flip capability.

The newly enhanced supplier portal integrates seamlessly with APEX Analytix FirstStrike® procure-to-pay controls and analytics technology to leverage its complex algorithms to market cash discount programs, identify and achieve savings via electronic invoicing, and perform mass communications via voice, text and email. It also enhances fraud detection and prevention when incorporated with FirstStrike® Fraud Detect software. The portal electronically registers key supplier information and keeps it current; facilitates FATCA compliance, dynamically creates required tax forms, and validates addresses, ID numbers and banking information. Completely customizable, the portal may also be used independently, ensuring accurate, complete and up-to-date information in the vendor master; as well as driving value for accounts payable with dynamic discounting and cost reduction capabilities

"Traditionally registering new vendors required untold man hours – inputting information, gathering required tax forms, validating banking information and more," said Walt Kristick, chief information officer for APEX Analytix. "But the real danger is that inputting supplier information is fraught with the risk of human error. FirstStrike Supplier Portal not only cuts the cost of onboarding vendors, it provides a simplified system that drastically reduces the chance of incorrect information in the system."

Independent research by Ardent Partners recently revealed that implementing a vendor portal is the second most important future initiative for A/P leaders—second only to reducing staffing numbers/costs.

"Done correctly, a supplier portal should simplify life, "said Akhilesh Agarwal, vice president of research and development at APEX Analytix. "FirstStrike Supplier Portal does just that, allowing the global businesses we serve to put their focus and energies where they belong—growing their business."

FirstStrike® Supplier Portal has incorporated a business rules engine that makes it easy for users to change and configure how the software reacts and appears. Users have access to a library of more than 5,000 configurable "rules" that have been proven valuable to clients with early access to the product. Branding FirstStrike® Supplier Portal with the user’s company identification is also completely customizable via the business rules engine.

Additionally, FirstStrike® Supplier Portal offers:

  • international features including support of 13 languages and counting;
  • bi-directional integration with user company’s SAP database;
  • e-invoicing and the ability for vendors to save time and reduce errors by flipping electronic purchase orders to invoices, and
  • dynamic discounting, an automated trigger that provides discounts as authorized by the company user.

Because of the configurable rules engine, FirstStrike® Supplier Portal can be implemented and populated in weeks, for a fast return on investment. For more information about FirstStrike Supplier Portal, visit www.apexanalytix.com.

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.