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494 Midsummer Boulevard
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MK9 2EA
Tel: +44 (0)1908 306270
Continuous Monitoring
APEX Analytix’s suite of FirstStrike technology solutions for duplicate payments, sales tax errors, cash discounts, paid credit memos, pricing, duplicate vendors, vendor fraud, inconsistent sales tax offer strong coverage for continuous monitoring of transactions. This breadth of prevention controls addresses many of the existing gaps that accounts payable departments need to monitor to keep profits from eroding.
As part of our continuous monitoring platform, FirstStrike solutions provide the ability to actively monitor these controls through pre-processors, analytic routines that identify, prioritize and aggregate transactions for immediate analysis by auditors. The platform also provides the user with the ability to auto-schedule these controls, utilizing the global selection criteria, to allow the user to hone in on specific vendor, invoice, payment, GL, Commodity, Business unit conditions that may indicate a control weakness.
Our tools provide three key elements of continuous monitoring:
- (1) evaluating independent transactions to ensure compliance
- is correct sales tax being taken
- does invoice include discount terms
- (2) evaluating like transactions to ensure compliance
- is transaction a duplicate
- are their anomalies in the pricing of parts
- are all parts in a family getting the discount terms
- (3) evaluating multiple stages of transactions to ensure compliance
- does invoice match PO
- does invoice match contract terms
- do vendor and invoice attributes point to fraudulent activity
