APEX Analytix Announces Opening of U.K. Headquarters

APEX Analytix, the fastest growing provider of accounts payable software for error prevention and fraud detection, recovery audit services, and productivity and performance management solutions to the Fortune 500, today announced the opening of its U.K. headquarters. Located in the city of Milton Keynes, a thriving business center in the southeast of England, APEX Analytix’s newest location represents a targeted expansion into a key growth market. Keith Button, a seasoned finance executive with deep experience in the recovery audit industry, will lead APEX Analytix’s U.K. team as Managing Director.

APEX Analytix’s new headquarters will serve U.K.- and Ireland-based companies that have shared services centers throughout EMEA. “Over the past decade, Europe has seen significant growth of shared services driven by competitive pressures, globalization, speed of communication, and access to information,” said Ian Malcolm, founder of Score Research, a leading consultancy for benchmarking and performance management in finance and accounting. “Moreover, increased compliance demands witnessed during the last two to three years have reinforced both process standardization and the shared services model.”

“APEX Analytix is ready to capitalize on this trend as the only recovery audit company providing software that automates error and fraud prevention, as well as solutions focusing on the entire procure-to-pay business cycle,” added Managing Director Keith Button.

APEX Analytix, founded in 1988, has taken the lead in a veritable paradigm shift in the U.S. recovery audit industry. Client demand for preventing errors and fraud in real-time, rather than relying solely on the traditional retrospective methods, led APEX Analytix to develop tools that empower organizations to internally detect, control, and prevent errors and fraud within accounts payable and procurement.
“We look forward to meeting the demand for overpayment detection and fraud prevention software from global, multinational organizations through our new local presence in the United Kingdom,” said APEX Analytix CEO Michael Lustig.

APEX Analytix’s flagship technology, FirstStrikeTM, is already in use at 30 industry leading companies, many of them operating global shared services locations. The software has prevented an estimated $750 million to $1 billion in over payments to date, achieving a proven 95 to 99 percent prevention rate. The products in the FirstStrike family complement the expertise of APEX Analytix’s commercial and retail audit services, which together help accounts payable, shared services, and purchasing organizations support the profitability of their organizations. The opening of APEX Analytix’s U.K. headquarters comes shortly before the launch of FirstStrike 6.0 expected in Q2 2006. FirstStrike 6.0 will feature significant enhancements for early fraud detection and prevention as well as international tax, compliance, and user capabilities.

UK HEADQUARTERS CONTACT:
APEX Analytix Ltd
Exchange House
494 Midsummer Boulevard
Central Milton Keynes
MK9 2EA
United Kingdom
(44) (0) 1908 306035
Attn: Paul Anwyll

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About APEX Analytix
APEX Analytix, founded in 1988, started as an A/P recovery audit services provider and soon transformed the industry with the first standardized, highly functional software solution for the identification and prevention of A/P errors. Today, APEX Analytix serves the second largest customer base of any company in the recovery industry. The company has more software installations than any provider of A/P recovery audit services and prevention software. Thirty companies on the Fortune 100 use APEX Analytix technology. The software has prevented between $750 million and $1 billion in overpayments, and achieves a 95 to 99 percent prevention rate that has been borne out by follow up audits. The company is an Inc. 500 Growth Company and Deloitte and Touche Fast 50 company. For more information call 1-800-284-4522, visit www.APEXanalytix.com.