GREENSBORO, N.C., May 13, 2020 /PRNewswire-PRWeb/ -- For the second year in a row, apexanalytix is among 50 companies recognized as a "Provider to Know" by analysts at Spend Matters, a leading intelligence source for procurement and supply chain professionals.
Spend Matters describes its 2020 "Providers to Know" as proven, best-in-class companies that are setting the industry standard and leading the charge on new procurement technologies and services. Those recognized are independently selected based on factors such as innovation, market presence, tech competency and solution delivery.
Many of the honorees, including apexanalytix, have also gone through a rigorous SolutionMap evaluation process. In fact, the company's apexportal is ranked by Spend Matters as the industry's top supplier management and risk management solution. It provides a single, powerful hub for supplier registration, supplier inquiry, supplier discovery, e-invoicing, cash discount management and statement reconciliation.
Magnus Bergfors, vice president and lead analyst at Spend Matters, says that one of the things that makes apexanalytix stand out is its focus on the validation of supplier data. "They are integrated to over 650 government and regulatory databases, including databases for bank account ownership validation, as well as global banking systems validations for things like IBAN numbers and SWIFT numbers," Bergfors says. "They also include lists for politically exposed as well as prohibited watchlists to their validation database."
Steve Yurko, CEO of apexanalytx, says data validation has never been more important. "Fraud scams tend to soar during times of uncertainty and change," he said. "With the process upheavals triggered by today's global pandemic, it is more important than ever to identify fraudsters early, before payments are issued."
Before being named a "Provider to Know," apexanalytix earned a spot on the Spend Matters list of "50 Providers to Watch" for four consecutive years – recognized as one of the companies pushing procurement forward through innovation. In addition to its highly rated procure-to-pay software, apexanalytix leads the industry in technology-powered recovery audit services.
About Spend Matters - Solution Intelligence for Procurement
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 http://www.apexanalytix.com or call 800-284-4522.
SOURCE APEX Analytix