FirstStrike Accounts Payable

FirstStrike Accounts Payable, developed by apexanalytix, is a comprehensive accounts payable and supplier management solution aimed at Fortune 500 and Global 2000 companies. According to the vendor, this software caters to the needs of finance and accounting professionals, procurement teams, accounts payable departments, financial shared services, and risk and compliance professionals across various industries.

Key Features

Supplier Discovery: According to the vendor, users can search and engage prequalified new suppliers, current suppliers, and smartvm's 90M+ scored suppliers to the Global 2000. This feature is said to provide a centralized hub for supplier discovery and engagement.

Supplier Registration: The vendor claims this feature streamlines the supplier onboarding process, ensures accurate and up-to-date supplier information, and reduces the risk of keying errors by prepopulating data for new suppliers.

Risk Management: According to the vendor, the software helps manage supplier risk through comprehensive assessment and monitoring. It is claimed to identify and mitigate various types of risks, including financial, operational, geographic, reputational, regulatory, credit risk, and fraud. Real-time risk monitoring is said to ensure compliance throughout the supplier lifecycle.

ESG Management: The vendor states that this feature allows users to rapidly close global compliance gaps and deliver on strategic environmental, social, and governance (ESG) objectives. It is claimed to provide out-of-the-box best practices, premium data, and supplier-facing collaboration.

CyberPro: According to the vendor, this feature enables users to monitor and manage cyber risk associated with suppliers, ensuring compliance with changing regulations and cybersecurity threats.

E-invoicing: The vendor claims that this feature streamlines the invoicing process by capturing and processing invoices electronically. It is said to reduce manual data entry and improve accuracy and efficiency.

Invoice & Payment Tracking: According to the vendor, this feature allows users to track and manage the entire invoice and payment process. It is claimed to provide real-time visibility into invoice status and payment details.

Dynamic Discounting & Supply Chain Finance: The vendor states that this feature utilizes AI-powered dynamic discounting to capture more discounts and rebates. It is claimed to improve cash flow and working capital management.

Supplier Statement Audit: According to the vendor, this feature uses AI-powered software to identify and recover millions in credits through supplier statement audits. It is said to automate the audit process and improve accuracy and efficiency.

Duplicate Payment Prevention: The vendor claims that this feature proactively prevents duplicate payments that ERP platforms may not catch. It is said to improve accuracy and reduce financial loss.