Four Grocers Win Top Honors in Recovery Audit Survey<br />

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Four Grocers Win Top Honors in Recovery Audit Survey<br />

07/30/2008
Grocers Safeway, Winn-Dixie, Food Lion, Wal-Mart have won top honors in APEX Analytix's Top Gun Retail Recovery Audit Best Practices Benchmarking Survey, along with electronic retailer Best Buy. Wal-Mart was the Overall Best in Class Winner in all categories. A recovery audit includes a complete review of accounts payable disbursements to recover overpayments and protection of company profits.

Greensboro, N.C.-based APEX Analytix provides services and software for performance improvement, error prevention, and fraud detection in accounts payable. "These five retailers are the best of the best," said APEX Analytix c.e.o. Michael Lustig. "They share a commitment to continuous improvement that can help them operate more efficiently, reduce costs, protect revenues, and achieve an important competitive advantage in the marketplace."

Participants with the highest-ranking scores in the APEX Analytix recovery audit benchmarking survey included:

--Recovery Audit Approach & Methodology: Safeway, Inc.
--Claim Processing Procedures and Workflow: Winn-Dixie Stores, Inc.
--Key Productivity and Efficiency Metrics: Food Lion, LLC
--Technology Use: Best Buy Co., Inc.
--Overall Best in Class Winner, All Categories: Wal-Mart Stores, Inc.

The benchmarking survey helps companies determine how they rank against their peers in recovery audits. The award winners were revealed at the APEX Analytix Top Gun Retail conference. So far, 32 retailers have participated in the Top Gun Recovery Audit survey.