APEX Analytix LLC is a Spend Matters Provider to Watch but could just as easily have been a Provider to Know, because the firm has been around for almost 20 years delivering its spend compliance software and services that cover a broad swath of business processes, industries and value:
- Audit recovery services – This is the bread and butter service line, but to deliver such services scalably and repeatedly for a client, there must be software.
- Spend analysis software – APEX Analytix has had strong spend analysis tools for longer than many firms have even been in business.
- Spend Compliance and procure-to-pay (P2P) analytics/tools – If you follow the Spend Matters 50 Shades of Pay series, you see the evolution from spent analysis to areas like contract and compliance analysis, performance measurement, working capital and other areas – supplier management areas such as supplier information management and supplier risk or fraud – that APEX Analytix has been able to build out over the years.
- Industry focused analytics – Retail is a major focus area for the firm and for a few of its major competitors due to its unique complexities and opportunities.
- Broader services – Supporting the analytics above and the core compliance and recovery services that extend beyond P2P in other areas, such as finance.
APEX Analytix is best suited for large firms that want to make sure that their spending is “locked up tight” through rigorous controls and visibility and want to have access to a broad swath of spend-focused software and services that can be consumed individually or collectively with a provider that will back it up commercially.