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APEX Analytix: First in Industry to Complete Both SOC 1 and SOC 2 Reports

Contributor: Press Release SSON
Posted: 03/22/2016
Press Release SSON
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APEX Analytix First in its Industry to Complete Both a SSAE 16, (SOC 1) Report over its FirstStrike Supplier Portal™ and a SOC 2, Type II Security Report over its FirstStrike® Product Suite.

GREENSBORO, NC – February 8, 2016 – APEX Analytix LLC, the industry leader in auditing, recovering and optimizing profit in businesses’ global financial supply chain, announced today that it has completed a Service Organization Controls (SOC) 1 report over its FirstStrike Supplier Portal™ and a SOC 2 report on Security for its FirstStrike® family of solutions and internal processes supporting data and access security. The FirstStrike solutions are offered to the market and are also used in providing APEX Analytix best-in-class recovery audit services. The Statement on Standards for Attestation Engagements (SSAE) 16 (SOC 1) and SOC 2 examinations were performed in accordance with the standards established by the American Institute of Certified Public Accountants (AICPA).

As part of a rigorous and ongoing effort to meet high standards of compliance with its service and technology solutions, APEX Analytix is the only company in its industry to have completed both the SOC 1 and SOC 2 reports.

"In completing the SOC 1, Type II and SOC 2, Type II reports, APEX Analytix is demonstrating our ongoing commitment to instituting stringent security controls for the operating environment, development, deployment, and operation of our FirstStrike family of products, so that our customers know they can rely on APEX to diligently operate on their behalf as a trusted partner" said Walt Kristick, CIO of APEX Analytix. "Apex Analytix believes that these audits help to demonstrate that our services are provided to our clients with the utmost security and reliability."

SSAE 16, SOC 1 reports have become increasingly important for data-handling service providers since the passage of the Sarbanes-Oxley legislation, which requires a company’s business partners to have adequate internal controls. Customers of APEX Analytix can easily incorporate its Service Organization Control Reports in their Sarbanes-Oxley compliance programs and are accessible for review by contacting the firm.

The SOC 2 report is intended to provide users with information about the system, particularly system controls intended to meet the Common Criteria related to the Security Trust Principle set forth in TSP section 100, Trust Services Principles, Criteria, and Illustrations for Security, Availability, Processing Integrity, Confidentiality, and Privacy (AICPA, Technical Practice Aids) (the "Applicable Trust Services Criteria").

The SOC 1, Type II (SSAE 16) and SOC 2 audits were conducted by one of the nation’s leading service audit firms specializing in SSAE 16 and SOC 2 services.

"We take security very seriously at APEX Analytix and have done so for over 28 years," said Steve Yurko, CEO, "and we are pleased to have undergone this evaluation and that the SOC Reports have been issued. Our ongoing commitment to meeting the measurements of SSAE review, and making every effort to ensure stringent controls that safeguard the data that passes through our FirstStrike solutions, are key components of our responsibility towards our customers." The FirstStrike product suite covers the full spectrum of Procure-to-Pay, from researching and vetting suppliers, through supplier onboarding and scoring, vendor master cleanup and maintenance, dynamic discounting, AP controls, and reporting and analytics.

About APEX Analytix LLC

Serving Global 1000 companies with value-added solutions for 28 years, APEX Analytix LLC is the number one provider of services and technology solutions to audit, recover, prevent overpayments and optimize profits, and enable a frictionless global financial supply chain. For more information about the organization’s products and services, visit www.apexanalytix.com.