Michael Lustig Named CEO of APEX Analytix
Greensboro, North Carolina - January 27, 2003 - Michael Lustig, former President of PRG (now PRG Schultz, PRGX, NYSE), has joined APEX Analytix as CEO. APEX Analytix is a recovery audit and software company that serves Fortune 1000 companies. APEX enhances clients’ profitability by identifying and reclaiming monies lost due to errors within accounts payable and procurement.
Mr. Lustig as President & Chief Operating Officer from 1997-2000 led Profit Recovery Group (now PRG Schultz) from $50 million in revenues in 1996 to over $300 million 2000.
Jim Arnold, founder of APEX Analytix, said, “We are very excited to have secured an executive with the skills and talents that Michael offers. Michael and I share a common vision for the recovery audit industry, building a partnership with clients in their quest for continuous process improvement. Today, most recovery audit firms operate with the primary strategy of finding as many errors as possible on a recurring annual basis. Our unique technology, which we make available to our clients, enables us to perform an efficient world-class recovery audit and arms clients with powerful tools to prevent overpayments and implement financial best practices. Properly deployed, APEX is turning many client accounts payable operations into profit centers”.
Mr. Lustig said, “I am thrilled to be given this opportunity by APEX to help lead the company to a preeminent position in the recovery audit industry. The vision that I share with Jim Arnold for the recovery audit industry is one whose time has come. I believe many companies around the world want to prevent errors from occurring, and form a more consultative relationship with their recovery audit partner”.
About APEX Analytix
Headquartered in Greensboro, North Carolina, APEX Analytix, formerly JBA Consulting, is a leading provider of recovery audit services and procure-to-pay software. APEX is uniquely positioned as the only recovery audit firm with a proven track record of installing software to detect & prevent billing errors. APEX performs recovery audit services for over 50 of the Fortune 500 companies.