“Before FirstStrike, preventative controls existed solely within our accounts payable platform. Unfortunately, intraplatform controls are only a partial answer and by implementing FirstSrike our Shared Service Center has taken preventive controls to a new level. APEX Analytix provides a solution for detecting duplicate payments across vendor files and system platforms with powerful vendor query and analytical capabilities within one tool.
In a typical month the vouching team will identify an average of 50 vouchers or approximately €369,000 in confirmed duplicate payments. In addition, we also identify an average of 600 invoice processing errors per month, which are again crucial to the prevention of future duplicate payments.”
- Large manufacturer following the integration of a large acquisition“APEX Analytix is the first company to come over to our side of the table, working as a partner with our internal post-audit group to identify root causes of overpayments, and work with us to fix the leaks using a proven technology that we can use internally.”
- General merchandise retailer“At SunTrust, the software prevents us from sending out about 100 duplicate payments averaging about €185,000 a month.”
- Accounts Payable Department Manager, SunTrust Banks, Inc.“We’ve reduced external findings on our largest error types by 50%, and now we’re using FirstStrike to detect new error types. We expect to completely eliminate the need for a secondary audit within 12 months.”
- Grocery Retailer
