Procure-to-Pay Software helps companies protect profits.June 1, 2009 -
Designed to prevent payment errors and fraud across procure-to-pay cycle, FirstStrikeŽ v9.1 isolates pricing trends by supplier, part number, or master parts grouping for accurate trend analysis. Supplier profile format enables companies to capture information needed to take action against suspected fraudsters, while action and reason codes help track pricing claims and uncover cause of errors. To comply with privacy regulations and auditing standards, program encrypts sensitive information.
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Original Press release
APEX Analytix
1501 Highwoods Blvd.,
Greensboro, NC, 27410-2047
USA
APEX Analytix Helps Companies Protect Profits with Enhanced FirstStrikeŽ Procure-to-Pay Software
- New features stem losses from overpayments, pricing errors and fraud
GREENSBORO, N.C., May 18 /-- To help companies manage through a challenging economy and protect hard-earned profits, APEX Analytix today is introducing new capabilities for FirstStrike(R), a software platform that prevents payment errors and fraud across the procure-to-pay cycle.
APEX Analytix is a leading provider of audit recovery services and software for performance management, error prevention and fraud detection in accounts payable and procurement. The company's FirstStrike(R) platform is the most widely used software of its type.
"Companies using FirstStrike(R) often find they can recover their investment in days," said Michael Lustig, CEO of APEX Analytix. "They are able to identify errors and fraud, recover overpayments made to vendors and prevent future losses that can impact ongoing profitability. There's no doubt that payment error and fraud protection software is a smart investment for any firm that needs to make every dollar count."
Version 9.1 of FirstStrike(R) delivers the following capabilities:
-- Speeding Fraud Investigations. A new supplier profile format enables companies to capture the information needed to take quick action against suspected fraudsters.
-- Capturing Negotiated Price Savings. FirstStrike(R) now isolates pricing trends by supplier, part number or master parts grouping for more accurate trend analysis. New action and reason codes help companies track pricing claims and uncover the root causes of pricing errors.
-- Recovering Overpayments from Vendors Faster. FirstStrike(R) 9.1 makes it far easier to access supplier information to substantiate an overpayment claim, including a full history of payments and credits and instant highlighting of relevant information. Companies also can take a deep dive into data from high-volume suppliers so they can capture and aggregate small overpayments they might otherwise overlook.
-- Complying with Privacy Regulations and Auditing Standards. FirstStrike(R) 9.1 encrypts the sensitive information used in its analyses - a reflection of APEX Analytix's commitment to emerging data privacy legislation and to the rigorous SAS 70 national auditing standards that govern the safeguarding of client systems and data.
-- Expanding International Support. To support multinational firms with operations around the globe, FirstStrike(R) now delivers a wider range of analyses for multiple currencies and value-added tax systems.
FirstStrike(R) 9.1 runs on a Microsoft Windows, SQL Server Platform. It can be licensed for on-premises use or can be accessed over the Web as a managed service. APEX Analytix also offers comprehensive recovery audit services powered by FirstStrike(R) software.
About APEX Analytix
APEX Analytix is an innovative audit recovery firm serving more than a third of the Fortune 100. The company has transformed the audit recovery industry with FirstStrike(R), a highly functional family of standards-based software that detects and prevents both errors and fraud and improves performance across the procure-to-pay process. To date FirstStrike(R) has saved businesses more than $2.0 billion in overpayments and is the most widely used software of its type. For more information, call 800.284.4522 or visit www.apexanalytix.com
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