APEX Analytix Introduces New FirstStrike® Release with Expanded Supplier Management and Contract Compliance Features

GREENSBORO, N.C., May 9, 2011 /PRNewswire/ -- Today APEX Analytix, the industry leader in recovery audits, statement reviews, overpayment detection, and fraud and risk management for procure-to-pay, introduced broad new enhancements to its FirstStrike® software for payment and supplier assurance.  

FirstStrike® automates labor-intensive shared service functions in accounts payable, procurement and master data management to detect and resolve costly errors – saving companies more than $2 billion to date.  FirstStrike® 11 includes enhancements to the Accounts Payable, Purchasing and Fraud Detect modules, as well as an upgraded FirstStrike® Vendor Portal.

"The upgrades we've incorporated are designed for today's complex, global business environment," said Jim Arnold, founder and president of APEX Analytix.  "Using what we've learned from corporations in a broad range of industries, we've integrated features that deliver greater bottom-line savings and maximize each client's investment in our software."  

Among the many upgrades in FirstStrike® 11 are:

• A new global procure-to-pay data platform that leverages cross-industry patterns and analysis, expanded to support double-byte data.  
• Enhanced ERP adaptors that automatically extract and integrate data from Oracle, SAP and other legacy systems to speed FirstStrike® implementations.  
• New configurable user roles that limit access to specific regional or divisional data – allowing global shared service centers to ensure data protection across the same instance of FirstStrike®.
• New pricing analysis tools that allow companies to compare invoiced unit prices against contract terms.
• New fraud analytics to detect manual overrides of system controls and to monitor risk by spend categories – coupled with tools that make it easier to manage investigations of high-risk vendors.
• Enhanced analysis tools to monitor global tax payments.  

Expansion of Vendor Portal

Concurrent with the launch of FirstStrike® 11, APEX Analytix announces significant customer-driven upgrades to the FirstStrike® Vendor Portal, an online supplier self-service application.  Among the many new features of the upgraded software are:

• A supplier self-registration module to accelerate the supplier on-ramp process and to validate new vendor information and documents.  
• Cash discount functionality that makes it easier for companies to capture a higher percentage of early payment discounts.  

About APEX Analytix

APEX Analytix helps companies unlock their potential by maximizing their profitability and safeguarding disbursements globally.  Our innovative people, processes and technology have transformed the audit recovery industry – led by FirstStrike®, our family of standards-based software.  For more than 15 years, FirstStrike® has been used by some the largest accounts payable teams on the planet to detect and prevent errors, halt fraud in its tracks and improve procure-to-pay performance.  APEX Analytix also is the world's leading provider of recovery audit and risk analysis services for the manufacturing, retail, government, services, healthcare and insurance sectors, where we help firms recapture lost profits and protect trillions of disbursements each year.  For more information, visit www.apexanalytix.com or call 800.284.4522.

PRESS CONTACT:
Linda Edgerton
336.286.9211
[email protected]

SOURCE APEX Analytix