Case Study: Leading Steel Manufacturing Company identifies $1.6M in claims with apexanalytix

Leading Steel Manufacturing Company - Customer Case Study

Leading Steel Manufacturing Company, a vertically integrated global steel producer with more than 8,000 employees and 120 locations, needed to audit two years of accounts payable activity after consolidating back-office functions and multiple ERP systems. To find duplicate payments and unapplied statement credits across more than a million invoices, 11,000 vendors, and $4.7 billion in spend, the company engaged apexanalytix for a technology-powered recovery audit.

apexanalytix used artificial intelligence and advanced analytics to review the data faster and more comprehensively than a manual audit, targeting suppliers with the highest claim potential and uncovering root causes behind errors. The project identified nearly $1.6 million in claims, uncovered issues such as inconsistent invoice dates, duplicate payments across systems, canceled contracts, and uncaptured rebates, and provided process improvement recommendations, benchmarking reports, and metrics to support ongoing cash flow and AP performance improvements.