Government agencies now are leveraging the same best practices used to protect the profits of the world’s largest corporations.
(PRWEB) October 09, 2012
APEX Analytix, a leading provider of services and software to safeguard disbursements, identify fraud and improve performance across the procure-to-pay cycle, today announced it has been awarded a General Services Administration (GSA) contract that will make it easier for federal agencies to purchase the company’s payment recapture and credit recovery audit services.
The new government-wide GSA Schedule 520 Financial and Business Solutions (FABS) contract covers the services APEX Analytix delivers in support of the Improper Payments Elimination and Recovery Act (IPERA). IPERA requires government agencies to pursue overpayments mistakenly made to individuals, organizations and contractors. The Office of Management and Budget (OMB) estimates the losses at well over $120 billion annually, representing a significant drain on federal coffers.
“Government agencies now are leveraging the same best practices used to protect the profits of the world’s largest corporations,” says Jim Glover, APEX Analytix vice president of strategic government operations. “They are actively identifying and recovering overpayments, analyzing the root causes of the errors and shoring up their internal controls to prevent future losses.”
APEX Analytix has a long and successful track record in payment recapture and credit recovery auditing for many of the world’s largest organizations. Among the company’s most recent wins is a contract to review payments made by the Department of Labor.
To conduct the rigorous audits the government requires, APEX Analytix experts use the company’s own FirstStrike® Accounts Payable and Fraud Detect software. FirstStrike automates much of the audit process – significantly reducing the time needed to uncover improper payments, compile claims and recover losses. It can be used to analyze the root causes of mistakes and develop new best practices for improved internal controls. FirstStrike also automates the extensive series of reports required to document IPERA compliance for the Office of Management and Budget and the U.S. Government Accountability Office.
For further information on APEX Analytix, its GSA Schedule and its solutions for the federal market, contact Jim Glover (jglover(at)apexanalytix(dot)com).
About APEX Analytix
APEX Analytix helps companies maximize their profitability and safeguard disbursements globally. Our innovative people, processes and FirstStrike® technology have transformed the audit recovery industry, saving our clients billions and making APEX Analytix the world’s leading provider of recovery audit, overpayment detection and risk analysis services. For more information, visit http://www.apexanalytix.com.