Case Study: Global Energy, Oil and Gas Company recovers $6M and uncovers $50M+ in duplicate payments with apexanalytix

Using a technology-enabled audit to drive transformative change

Global Energy, Oil and Gas, a global provider of equipment and technology for the oil and gas industry and operator of the world’s largest land-based fleet of drilling rigs, wanted to improve profitability by reviewing accounts payable for the first time. The company turned to apexanalytix for technology-enabled audit services, including its firststrike® software, to analyze five years of AP data and identify overpayments and credits due.

apexanalytix conducted simultaneous recovery and statement audits to work through 6 million invoices and more than $18 billion in auditable spend, sending statement requests to nearly 3,600 vendors. The effort recovered $6 million, with 96% from statements and 4% from duplicate payments, and identified over $50 million in duplicate payments that were corrected the same day they were paid. apexanalytix also delivered baseline reporting and root-cause insights that helped Global Energy strengthen AP controls, track rebates, and put future audit processes in place.