AUDIT INNOVATIONS FOR A SHIFTING RETAIL LANDSCAPE
Intense competition and an unrelenting focus on cost control have transformed the retail marketplace. Companies are responding by upending the status quo and adopting new operating models, processes and technologies to protect their bottom line.
That same focus on innovation is making its way into the recovery audit arena in response to merchandise types, promotions and allowances that have become complex and error-prone.
Forward-thinking retailers are using the post-disbursement audit to make a direct and measurable contribution to their company’s financial performance— now and into the future. They are partnering with recovery auditors to shorten audit cycle times, identify new controls and expand into new audit arenas, including tax overpayment, contract compliance and more. They also are mining company data to uncover critical insights that deliver ongoing value.
Retail auditors at apexanalytix go beyond the obvious to explore a comprehensive range of recovery areas. That means improved results that can benefit your bottom line.
HELPING RETAILERS ADAPT TO INDUSTRY TRENDS
Global Financial Shared Services Adoption. As companies move to centralized service models, post-audit becomes an important leverage point for recovering lost profits and making process changes that prevent future savings leakage.
Why apexanalytix? We audit more Global 2000 companies than any recovery auditor in the world and are highly experienced in shared services environments. We focus not only on recoveries, but on prevention-based improvements in global operations, processes and controls.
ERP Implementation and Consolidation. As ERP systems become the transactional platform of record, companies are in a better position than ever to capture inaccuracies and recover profits.
Why apexanalytix? We have broad experience with virtually every ERP environment used today. We also have the fastest and most accurate data analytics in the industry—helping us deliver the most recoveries in the shortest possible time.
Holistic View of Merchandise Disbursements. Retailers have rightly focused their audit efforts on high-volume merchandise spend. But there also can be significant recovery opportunities on the expense side of the equation for purchases not intended for resale.
Why apexanalytix? We look for recoveries across all spend categories, and our clients recognize the benefit. At least half of our retail clients engage us to review both expense and merchandise purchases.
The Changing Retail Store. Merchandise types, movement, promotions and allowances are more complex today than ever before. It is critical that retail post-audit initiatives morph and change in order to keep up.
Why apexanalytix? We are experienced at working in even the most complex retail environments. Sophisticated analytics help us mine large data sets, unravel the complexities, and identify—and predict—precisely where your recoveries will come from.
THE APEXANALYTIX ADVANTAGE
HELPING RETAILERS ADAPT TO INDUSTRY TRENDS
Expert People. Our highly skilled, full-time retail auditors, data experts and business analysts know how to produce superior results for global retailers.
Expert Processes. apexanalytix audit experts assure you get the most out of your audit services engagement with processes honed through decades of experience with Global 2000 retail firms.
Proven Technology. apexanalytix auditors are equipped with firststrike® Retail—highly sophisticated software that helps us
consolidate and analyze large volumes of data from disparate systems in record time. Many companies also license the software to conduct their own internal audits and to provide continuous, proactive protection against overpayments and fraud.
“apexanalytix is a key partner in…best-in-class payment compliance. Among the benefits…are improved regulatory compliance, root cause analysis and reduced audit cycle times. We simply have improved both our supplier relationships and our financial performance.”
Audit Recovery Manager,
Fortune 25 Grocer
