Case Study: Global Food and Beverage Company improves profitability through audit recoveries with apexanalytix

Global Food and Beverage Improving profitability through audit recoveries

Global Food and Beverage Company, a $14 billion global producer sold in more than 180 countries, faced a difficult accounts payable environment with multiple payment systems and billions in annual disbursements to local and regional vendors. This made it hard to spot and correct payment errors, so the company turned to apexanalytix for help, using its recovery audit and firststrike® audit technology.

apexanalytix audited more than $20 billion in North American disbursements, analyzing nearly 6 million invoices and reviewing statements from nearly 4,000 vendors. The engagement recovered more than $2.5 million in overpayments and missed credits, identified the main causes of duplicate payments and unclaimed credits, and provided benchmark data and process improvement recommendations to reduce future losses.