Introducing PRGX’s Duty to Report on Payment Practices & Performance Solution
SPEND LESS TIME REPORTING & MORE TIME IMPROVING
For many companies, complying with new Duty to Report on Payment Practices & Performance requirements is a complex, labour-intensive exercise. The required data is frequently spread across many disparate systems, each with its own format and handling requirements. The work of extracting, rationalising and making sense of the data can be overwhelming and beyond the day-to-day capabilities or capacity of your team.
A big data solution, PRGX’s Payment Process Reporting solution significantly reduces the time required to prepare data for submission and eliminates the need to undertake a costly IT project. In addition to reporting for compliance, our solution uncovers critical information to help you benchmark, monitor and improve your payment practices, ultimately maximizing cash flow.
Everything You Need for an Efficient Duty to Report on Payment Practices & Performance Process
New Duty to Report on Payment Practices & Performance regulations create data challenges for many large companies. Invoicing data often resides in many disparate, disconnected ERP systems and can be fraught with inconsistencies and incomplete datasets. PRGX’s data experts can help you implement a sustainable and repeatable Payment Practices Reporting Solution with the key statistical metrics you need. Our SaaS-based tool aggregates and transforms your raw data to produce an accurate and timely report that’s ready for submission.
Bringing Clarity and Confidence to Duty to Report on Payment Practices & Performance
The Duty to Report on Payment Practices & Performance process can be unclear and complex. Our team of data specialists has expert knowledge of the legislation that governs the entire process, from data request through methodology and calculation. Let us bring clarity and confidence to your process.
Unclear Data Regulations
Data Specialists and Legislation Experts that can Help Design the Right Process for Your Specific Situation
Data Buried in Multiple, Disparate Systems
Toolsets that extract and rationalise your data from any and all ERP and accounting systems
Supplier Categorising Database and Filtering
Audit-ready methodology documentation
Optimise your Cashflow with Applied Data
With our Payment Practices and Performance solution, helping you meet Duty to Report on Payment Practices & Performance obligation is just the beginning. You’ll also get a toolkit of tracking, benchmarking and reporting that drives Working Capital optimisation:
- Benchmark and monitor key payment metrics like Average Time to Pay and Percent of Invoices Paid Late
- Understand how your performance compares to best practices, peers and legislation
- Identify areas to improve efficiency and facilitate on-time payment
- Optimise day-to-day operations and meet cashflow requirements
Solutions Worth Talking About
PRGX’s understanding of the legislation, their data handling capability and analytical skill were conﬁrmed to us very quickly following some initial discussions. Their detailed research and experience governed everything from the initial data request, right through to each company-speciﬁc methodology and resulting calculations.
“PRGX governed everything from the initial data request, right through to the company-specific methodology and resulting calculations. It is clear that they offer a truly unrivalled solution for Payment Practices Reporting”
UK&I Financial Control Director, Dixons Carphone
Ready to Get Started?
Now is the time to implement the big data solution that delivers efficient and accurate reporting to help you meet Duty to Report on Payment Practices & Performance regulations. Let one of our experts show you how easy it can be.