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By apacciooutlook | Monday, December 03, 2018
GREENSBORO, NC: Apex Analytix, a provider of technology and audit solutions for financial supply chains, announces a four-part strategy powered by the FirstStrike suite of product for cash-management solutions.
The APEX Analytix cash-management solution includes a robust combination of analytics and supplier onboarding technology for payment-term optimization; reporting to enable active discount capture; predictive scoring, discount marketing and adoption assistance for dynamic discounting, and flexible supply chain financing via a secure open adapter.
Payment-Term Optimization: The FirstStrike Reporting and Analytics module provides enterprise-wide insight into payment terms. With full visibility into payment terms across multiple systems, companies can consolidate and optimize terms as a first step in cash management.
Active Management of Discounts: The software is able to identify missed discounts that occur when invoices are not approved within the negotiated terms. FirstStrike analytical reporting, groups vendors and performs spend analysis to isolate cases where suppliers offer discounts inconsistently to a buyer across the enterprise or across similar products or services.
Establishing Terms on the Front End: The Supplier Registration module ofthe First Strike Supplier Portal drives suppliers to standard payment terms by providing one or more preferred terms during onboarding (e.g., Net 60 and 2%15/Net 60).
Open Supply-Chain Financing via Secure Open Adapter: The APEX Analytix open supply chain financing software facilitates a firm’s ability to use third-party-funded (versus company-funded) - early payments. APEX Analytix offers a referral provider or, unlike other companies, allows firms to use their preferred funding source. Seamless integration to the third-party source of funds is enabled through the configurable Secure Open Adapter.
Dynamic Discounting Supports Buyer and Supplier Cash Management Objectives: The FirstStrike Portal Dynamic Discounting module engages buyers and suppliers to benefit both parties and reduce friction in the global financial supply chain. The Dynamic Discounting module also gives suppliers the opportunity to initiate discounts. The APEX Analytix model allows buyers to pre-set whether they will automatically accept, review, or automatically reject any supplier-initiated discount offer based on the APR range. Offers can be reviewed daily, weekly, or ad hoc so companies can choose the most favorable offers at the frequency they choose. The system may also be configured to accept discount offers up to a total amount in any given day. The result is maximum discount capture at rates that meet the needs of suppliers who otherwise fall through the cracks.
"Accounts payable and procurement are partnering with treasury to look at cash management more holistically," says Danny Thompson, software product management for APEX Analytix. "For years, our FirstStrike Reporting and Analytics clients have had visibility into current terms and discounts. In combination with these valuable insights, the Supplier Registration and Dynamic Discounting modules of the supplier portal and the flexible supply chain financing options clients now have a way to fully optimize cash management in procure-to-pay."