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In themarket for SXM solutions, APEX Analytix has a peculiar place. Unlike more traditional supplier management vendors, it offers recovery audit services as its primary business — and it does so for 14,000 clients. APEX has been doing this for more than 30 years and, to support that business, it developed its own solution. And, 10 years ago, it started to sell the solution to customers to enable them to use it as a preventive measure.
APEX Analytix is, therefore, “eating its own dog food,” and the nature of the audit recovery business means that the solution has some of the deepest capabilities of all other SXM solutions. In fact, it has ranked the highest for functional capability in ourSupplier Management SolutionMapsince its inception.
But that doesn’t mean APEX Analytix has sat still. Rather, it has continued to push its platform in new directions, and even expanded its scope beyond what we would normally consider “supplier management” to encompass advanced controls and fraud prevention mechanisms. In this Spend Matters PRO Vendor Analysis, we provide an end-to-end update on the APEX Analytix offering for 2022. Part 1 of this Spend Matters PRO Vendor Analysis update provides an overview of APEX Analytix, a look at competitors, and offers tech selection tips.Part 2examines the solution strengths/weaknesses, provides a detailed overview of each module and an analyst summary.
Here’s why APEX Analytix matters:
- To the market:APEX Analytix has very deep SIM capabilities, including the largest number of third-party integrations for data verification. These support broader SXM and supply chain financing (SCF)/dynamic discounting capabilities
- To customers:APEX Analytix provides a broad range of features to effectively and efficiently manage suppliers (MDM and lifecycle) by leveraging its network and customer-specific requirements allowing customers to improve compliance/reduce risks and unlock new value through SCF
- To potential buyers:APEX Analytix’s solution is a way to quickly and efficiently create golden records by leveraging the existing high-quality (from a data perspective) network and continuously monitor and enhance critical supplier-related information and management processes