AddThis

Publix taps Apex to boost retail audit recoveries

Greensboro, N.C. -- Apex Analytix, a provider of services and software to safeguard disbursements, identify fraud and improve performance across the procure-to-pay cycle, announced it has been chosen to provide retail audit software to Publix Super Markets.

Publix will use Apex Analytix FirstStrike Retail, an application used to audit large volumes of data in high-transaction retail environments. Experience shows that internal recovery audit teams armed with FirstStrike are able to achieve far more recoveries in much less time, according to Apex.

Publix plans to use FirstStrike to audit hundreds of millions of warehouse and direct-to-store invoice records for pricing errors, store receiving errors and improper unfulfilled orders. Internal auditors will use the software to identify, write and administer claims and to generate detailed reports on transactions, claims and recovery status – all within the same application interface.

The application works by consolidating transaction data from a retailer’s internal systems and analyzing it using powerful algorithms. With automated tools at their fingertips, internal audit teams can find more recovery opportunities and reduce audit cycle time.
 

 

© 2014