Apex Analytix
| File:Apex logo.png | |
| Private | |
| ISIN | 🆔 |
| Industry | Anti-fraud |
| Predecessor | JBA Consulting |
| Founded 📆 | 1988 in Greensboro, North Carolina |
| Founder 👔 | James Arnold |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Apex Analytix is an audit recovery firm located in Greensboro, North Carolina.[1]
Company overview[edit]
In 1988 Apex Analytix was founded as JBA Consulting[2] in Greensboro, North Carolina[3] by James Arnold.[4] Apex works with clients to identify any overpayments to vendors, including fraudulent transactions.[1] The company provides audit recovery services, spend analysis software, spend compliance analytics tools, industry focused analytics,[5] and services to help with Sarbanes-Oxley compliance.[3] The company’s clients include large private enterprises, public companies, and government agencies such as the US Department of Labor.[6] By 2004, Apex’s client list included 40% of the US’s fifty largest corporations.[7] The CEO of the company is Steve Yurko.[8]
Software[edit]
In 2004, Apex first produced its payment error software.[9] It also previously provided real estate lease audit services.[10] The main software that Apex provides is the FirstStrike Supplier Portal,[11] which monitors “pricing trends and changes, missed discounts and price-related payments for goods purchased”.[12] It checks incoming invoices from a company's supply chain against purchasing-contract discounts to measure the price paid against the real market price.[13] The 2014 version of the software was available in thirteen languages, about 5,000 configurable rules, and bi-directional integration with a client’s SAP database. Apex also publishes the FirstStrike Fraud Detect software.[11] The software is sold on an annual subscription basis.[14]
Investments[edit]
In 2003, Apex raised $7 million from Noro-Moseley Partners and the Wakefield Group.[15] In May 2009, the Apex was acquired by Pittsburgh-based PNC Equity Partners, upon which PNC stated Apex’s revenues were about $50 million per year.[1][16] Incline Equity Partners, an offshoot of PNC, then completed a dividend recapitalization of Apex in 2012.[17] Incline then sold its shares in 2014[18] to Carousel Capital.[18]
References[edit]
- ↑ 1.0 1.1 1.2 Steve Ivey. "Pittsburgh-based equity group buys Apex Analytix". Triad Business Journal.
- ↑ Lee Berton Staff Reporter of The Wall Street Journal (5 September 1996). "Firms Find Computers Can't Spot Many Errors or Fraud". The Wall Street Journal.
- ↑ 3.0 3.1 "Apex Analytix - Greensboro, NC". Inc.com.
- ↑ "Two Triad comanies finalists in Entrepreneur of the Year contest". Triad Business Journal.
- ↑ Pierre Mitchell. "APEX Analytix – A Provider to Watch in 2015 Spend Matters". Spend Matters.
- ↑ Matt Evans (19 June 2012). "Apex Analytix gets U.S. Department of Labor contract". Triad Business Journal.
- ↑ Mick Normington. "Ready for take off". Triad Business Journal.
- ↑ Olga Oksman, Marlene Givant Star and Chris Marr (January 6, 2012). "Connolly Consulting mandates Oppenheimer for sale process". Financial Times.
- ↑ "Apex Analytix launches new payment error software". Triad Business Journal.
- ↑ "Apex Analytix starts lease-audit services". Triad Business Journal.
- ↑ 11.0 11.1 "The new supplier portal simplifies supplier onboarding, offers an e-invoicing and purchase order flip capability, and more". Supply & Demand Chain Executive.
- ↑ "Apex Analytix Rolls Out New Software". Triad Business Journal. January 12, 2011.
- ↑ Mark Hall. "On The Mark". ComputerWorld. p. 10.
- ↑ "Mind your language". The Economist.
- ↑ "Daily 38".
- ↑ "PNC Equity Buys Apex Analytix". Accounting Today. May 7, 2009.
- ↑ Patty Tascarella. "Incline Equity completes deal". Pittsburgh Business Times.
- ↑ 18.0 18.1 "Term Sheet — Tuesday, August 12". Fortune.
External links[edit]
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