apexanalytix Spends One Year Ranked Top Supplier Management and Risk Solution by Spend Matters
PRESS RELEASE: GREENSBORO, NC APRIL 09, 2020 — apexanalytix, the ultimate supplier management company, has been recognized as the top solution for Supplier Relationship Management and Risk (SRM) by Spend Matters in its Q1 2020 SolutionMap for procurement technology – cementing the company’s position as the top rated solution for a full year. Extended supplier information management capabilities, unparalleled data validation and enhanced platform configurability once again helped apexanalytix maintain its listing as the best recommended fit across all five SolutionMap buying personas.
When unexpected crises occur, proper preparation can curb the lasting impacts felt across industries. As organizations around the globe prioritize identifying and solving for crisis and risk management gaps, the need for supplier information management, risk and performance management solutions becomes more critical than ever. With apexanalytix’s supplier management solutions, global organizations can continuously protect their supply chains against fraud, fines from regulatory compliance issues, and disruption to business continuity.
As companies onboard new suppliers, apexanalytix’s solutions validate every supplier’s identity against 650+ trusted data sources to ensure compliance and minimize risk. This automated validation process not only accelerates the supplier onboarding process, it provides unprecedented power over the supplier journey to ensure new and existing suppliers are reputable – providing the peace of mind business leaders need during these stressful and unusual situations.
“Just this week apexanalytix stopped an 8-figure fraudulent payment from being sent to a scammer who was taking advantage of the COVID-19 crisis,” said Danny Thompson, SVP of Market & Product Strategy at apexanalytix. “Over the last year, another client prevented over $100 million in improper payments.”
Throughout the supplier lifecycle—from sourcing through sunsetting of a supplier relationship—Source-to-Pay leaders monitor and manage supplier compliance requirements, business continuity plans, data protections and performance to contracts and KPIs. Automated supplier segmentation, configurable scorecards, 3rd-party data and scores, and intelligent news monitoring make it possible to manage supplier risk automatically and at scale.
“Organizations must regularly navigate uncertain risks to the economies, industries and customers they engage with each day,” said Akhilesh Agarwal, SVP, Global Business Partner Technology Solutions at apexanalytix. “We are proud to be recognized as the top Supplier Relationship Management and Risk solution that’s helping them manage these risks by providing comprehensive control of suppliers.”
The Spend Matters SolutionMap was developed through the extensive evaluation of 69 procurement software companies in 13 solution categories using customer and analyst input. The five buying personas (Nimble, Deep, Configurator, Turn-Key and CIO-Friendly) provide guidance based on different organizational needs and the unique value propositions served by each solution provider. apexanalytix consistently ranks as a Value Leader, earning both strong analyst and customer scores, for each buying persona.
About Spend Matters
Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner. Spend Matters is owned and managed by Azul Partners Inc.
apexanalytix revolutionized recovery audit with advanced analytics and the introduction of firststrike® overpayment prevention software. Today, apexanalytix leads the world in supplier management innovation with apexportal and smartvm®, the most popular supplier onboarding and compliant master data management solutions available. With over 250 clients in the Fortune 500 and Global 2000, apexanalytix is dedicated to providing companies and their suppliers the ultimate supplier management experience. Learn more at www.apexanalytix.com.