By leveraging PRGX’s decades of experience, Spend & Payments Analytics detects potential duplicate invoices before they impact your bottom line, and helps you optimize working capital opportunities.
by Vincent Pate, PRGX Data Intelligence Solutions Sales Engineer
What sets this platform apart from other data intelligence tools is the experience PRGX has working with the largest and most complex organizations in the Fortune 500. PRGX uses this knowledge to “harmonize” vendor data, terms, currencies, and more to give the most accurate view into all your data across your organization. These insights unlock value that contributes to the health of the whole business.
With many reports out of the box and custom configuration available, you can find exactly what you need to stay on top of your company spend with the advanced analytics platform.
Here are some example reports to dig deep into your spending—
Lets you easily separate your direct and indirect purchases.
Includes charts for spend by month, quarter and annual comparison.
Days Payable Outstanding
This overview provides a single view into your top supplier’s terms and payment distribution. Using this report can pinpoint where the greatest amount of working capital opportunity exists. One method is to drill down to a term to make sure it is being paid at the proper time. A spike in payments will show where ineffiencies exist, and a drill down finds the supplier at its heart.
Payment Terms Opportunity
A quick view at this report will let you know exactly how much working capital opportunity has been lost due to early payments for the filtered vendor.
Remove the filter to see the working capital and cost of cash saving opportunities across your whole organization.
For those suppliers that are already being paid properly and on time, the Modeling report can project out potential capital opportunities as you negotiate for better terms.
To learn more about Spend & Payment Analytics software, click here to schedule a personalized demonstration.