Apex Analytix

Company overview

In 1988 Apex Analytix was founded as JBA Consulting in Greensboro, North Carolina by James Arnold. Apex works with clients to identify any overpayments to vendors, including fraudulent transactions. The company provides audit recovery services, spend analysis software, spend compliance analytics tools, industry focused analytics, and services to help with Sarbanes-Oxley compliance. The company’s clients include large private enterprises, public companies, and government agencies such as the US Department of Labor. By 2004, Apex’s client list included 40% of the US’s fifty largest corporations. The CEO of the company is Steve Yurko.

Software

In 2004, Apex first produced its payment error software. It also previously provided real estate lease audit services. The main software that Apex provides is the FirstStrike Supplier Portal, which monitors “pricing trends and changes, missed discounts and price-related payments for goods purchased”. It checks incoming invoices from a company's supply chain against purchasing-contract discounts to measure the price paid against the real market price. 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. The software is sold on an annual subscription basis.

Investments

In 2003, Apex raised $7 million from Noro-Moseley Partners and the Wakefield Group. 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. Incline Equity Partners, an offshoot of PNC, then completed a dividend recapitalization of Apex in 2012. Incline then sold its shares in 2014 to Carousel Capital.