Safeguarding disbursements to the tune of more than two and a half trillion dollars each year, Apex Analytix are a leading name in the analytics game, offering a robust suite of tools and features. The question many small and medium sized business owners may have regarding the company: If they’re managing all these giant conglomerates and Fortune 500’s, will their service be up to par for smaller businesses, or will you feel like you’re just a number to them, a client that they could take or leave? An analytics brand with those resources sounds promising, but do you need to be a major player to take full advantage of them?
Of course, before even considering whether they’re right for your business, whether it’s small, medium or large, you have to take a look at what it is that Apex offers in the first place. There are a lot of industry leaders who get by on their brand name, but don’t offer competitive services and products or pricing. Maybe they were in the right place at the right time or were one of the first in their industry, and that carried them a long way. eBay is an example of this tendency: They ran unopposed for too long, and have only recently begun to address some of their customer service issues and so on.
So does Apex Analytix fall into this category, or are they a top company for good reason?
Apex Analytix: Continued Innovation
Something that should inspire confidence in anyone looking to sign up with Apex: They have continued to innovate on their platform. Every year seems to bring news of some new technology or feature the brand is developing. They’re not content to simply rest on their laurels, so to speak, rather, they have been striving to prove to their customers and partners time and again that they’re one of the best in the business.
One of their most recent innovations: The integration of artificial intelligence into supply chain optimization. Machine learning essentially means that a computer is able to learn on its own without having to have every single thing it does programed into it. You remember those “Deep vision” images that were popular on the internet a couple years ago? The computer tended to think everything was a dog or a lobster, and it was a little weird, but it was also groundbreaking. That a computer could even make a guess that it was looking at a dog was something new and kind of startling.
Machine learning is a little bit like that, though a bit less weird, given that, in the case of supply chain optimization and so on, it’s really just looking at numbers and helping to figure out the very best approach for any given business. The technology is certainly exciting. It might not be anything that you particularly need for your business, but it does go to show that Apex are not content to hold their spot on name brand recognition alone. They’re still pushing the boundaries of the industry.
As to the other question you may have:
Are Apex Analytix Right For Smaller Businesses?
The only mention we found of small businesses on the website was in the bio of one of the staff, who consulted with the US Office of Small Business Development Centers for a time. There is little in the company’s copy or press to suggest that small businesses are a priority for the brand. This is not to say that they might not be immensely useful to a small business. Their tools and features are top notch and they are an innovative company. However, don’t expect them to court you if you’re not at least a seven figure company.
Apex’s features are optimized for larger businesses. The use of AI for supply line optimization, for instance, isn’t entirely necessary for a smaller organization. If it only takes you an hour on the weekend to go over all of your sales and shipments with a spreadsheet and some scratch paper, then the AI may be more than you need. However, there’s something to be said for utilizing big business tools before you’re a big business so that you have room to grow.
What Are These Apex Analytix Features?
Apex Analytix offers five major tools for businesses. These are Apex Portal, First Strike, Apex Recovery, Smart VM and Apex Archimedes. The tools are meant to complement one another, and larger businesses will get the best possible results available to them through Apex Analytix by using all five in conjunction with the others. However, you might find that one or two of these tools are perfect for your business and the rest are just bells and whistles that you don’t actually have all that much use for in your line of work. We’ll go over each of them below:
- Apex Portal. Apex Portal is the company’s portal solution for suppliers. This tool offers fast access, around the clock, to invoice and payment status information, whenever you need it. The website proudly advertises that it is a “touch free solution,” meaning that it is largely automated. This is an example of how Apex Analytix is largely geared towards larger businesses. If you run a smaller business, then you probably don’t need a fully automated supplier system for invoices and so on. However, if you run a larger business, this can take a lot of the tedious busywork off of your shoulders.
- First Strike. Apex First Strike is all about ensuring that your payments, incoming and outgoing, run smoothly. The software can detect and stop overpayments and keep all transactions secure. The software can also compare payment terms to inventory turns in order to help you see how to get the greatest working capital. It can conduct analysis after an audit, and analyze spending in general to help you to create a more streamlined, effective pipeline. The software includes AP controls to detect payment errors, fraud detection, reporting and analytics, retail audit, and decision support applications so that you can make more informed choices in managing your business.
- Recovery Audit. Apex Recovery Audit enlists the help of certified experts with specialized industry experience who can help you to find new opportunities within your industry and manage your business a little better. Features included with the service include root cause analysis, so that you can examine losses and downturns up close. Client relationship officers are enlisted to help patch over differences between your clients and partners in business. Pricing and contract compliance audits are offered, as are retail merchant audit services and taxation audits. More and more services these days are going beyond simply providing the software. They’re also offering a team of experts who come with the package. As you may have guessed, this is another one of the features that establishes Apex Analytix as more of a big business brand. If you have the budget for it, there’s quite a bit to get out of Apex Analytix, but it’s a little more power than most smaller businesses and medium sized businesses have the budget or the need for. Generally, entrepreneurs and start-ups are very DIY, all about elbow grease and personal education more so than enlisting the aid of outside help. Essentially it comes down to the size of your business and your short and long term vision for your company.
- Smart VM. Apex Analytix’s Smart VM, or Vendor Master Maintenance, is your basic maintenance package. It’s used to clean and validate your vendor master so that it can run more smoothly. It’s like defragmenting your PC every now and then, or running a virus scan. It scrubs for duplicates, classifies vendors by their industry code and so on. If you have some organizational or efficiency issues with your vendor master, then Smart VM can help to tidy it up.
- Archimedes. Apex Archimedes is Apex’s artificial intelligence service. It is a cut above what you might be expecting of an AI-assisted program. It’s peer to peer based, and the more people who use it, the smarter it gets. Ten years ago analytics were kind of a novelty, now they’re a must. AI-assistance is the same. Your business might not need it to stay competitive just yet, but give it another five, ten years and everyone will be utilizing machine learning to improve their business, from the small food truck to the locally owned diner to the multinational corporation.
Is Apex Analytix Right For You?
At the end of the day we have to make the call that Apex Analytix might not be your best choice if you run a small or medium sized business. All of their features are designed for major players in major industries. It’s hard to imagine someone running an Etsy shop, selling handmade products, and really needing the assistance of an AI-powered program. If you’re just not doing business in big numbers, then Apex Analytix is probably not what you are looking for. There are a lot of features here that are just more than you need with a small business.
For large businesses there may be more here than you need, too. Apex Analytix is primarily built for people working in some corner or another in the retail business. If you run a chain of retail outlets or a warehouse or a manufacturing plant, then Apex Analytix may be absolutely perfect. If you work in a service based business or transportation or something, on the other hand, then you’re going to be paying a high-end cost for a bunch of features that you might never put to use.
For what they do, Apex Analytix is excellent. But what they do isn’t for everyone. Of all the people reading this, maybe one percent of you really need what Apex has to offer. They have some of the most effective, efficient, robust and powerful tools on the market for major retailers. For everyone else, it kind of comes down to just a whole bunch of extra bells and whistles. We haven’t read any negative reviews of their customer service, but then that may be because not a lot of small businesses or medium-small sized businesses have bothered connecting with Apex in the first place.
Final verdict: Apex Analytix are a five star business for anyone who needs their particular services. For everyone else, you’re better off looking at more affordable options or analytics companies geared to your specific field or industry. Apex Analytix is heaven-sent for major retailers, but there’s not much here to justify recommending the brand to, say, a local diner, an eBay store owner or someone who manages just one small retail outlet. You need a solution like this when managing a global corporation or a national chain, but you might not require machine-learning just to sell a few hundred custom t-shirts each month.