New release to deliver global solution for supplier deduction management and other inbound supplier claims, disputes and inquiries
ATLANTA, November 7th, 2017 (GLOBAL NEWSWIRE) — PRGX Global, Inc. (Nasdaq:PRGX), a global leader in Recovery Audit and Spend Analytics services, today announced Lavante SIM 7.0, a major expansion of PRGX’s Lavante Supplier Information Management (SIM) solution suite. This release, developed with direct input from several major PRGX clients, will be available in early December and enable clients to quickly enhance, automate and simplify their supplier deduction management process, as well as the ability to receive and resolve many other inbound supplier claims, disputes and inquiries.
With the latest release of its Lavante SIM solution, PRGX is bringing to market the definitive product for addressing a common problem plaguing large enterprises across the globe – the massive volume of inbound supplier communications and the subsequent resource drain and cost of receiving, researching, routing and resolving the inbound queries.
“The Deduction Management capability of the new release marks a critical shift in the market for highly targeted spend analytics and supplier management solutions,” said Jason Busch, Lead Analyst and Founder of Spend Matters and Azul Partners. “PRGX has leveraged its deep analytics domain expertise on top of its supplier management platform to create one of the highest and most tangible ROI use cases for targeted solutions in these areas we have seen.”
Lavante SIM 7.0 enables clients to configure a predictable, uniform and scalable process for suppliers to research supporting detail for potential payment disputes or deductions prior to initiating a question, comment or dispute. The cloud-based solution enables uniform treatment of all suppliers around the globe and gives client end users a single point of control and visibility that, in addition to reducing the number of inbound supplier queries, will also reduce the overall effort required to manage the communication and resolution processes. The new release, which supports Deduction Management, Invoice Visibility, General Help Desk and much more, is expected to substantially reduce erroneous repayments, supplier management costs and resource requirements.
“We want new releases of our solutions to solve industry pain points. The most direct way to do this is to work closely with clients and address their largest problems,” said Tushar Sachdev, CIO at PRGX. “Lavante SIM 7.0 addresses a huge problem for most, if not all, of our over 300 global clients that likely costs many of these companies millions of dollars in operational costs and unnecessary repayments back to suppliers.”
In addition to enhanced supplier functionality, Lavante SIM 7.0 also delivers a significant improvement in client workflow and reporting. All inbound supplier queries can be routed to specified parties throughout the client organization to ensure speedy resolution. Inbound queries are tracked at the point of input and throughout the resolution process against a complex set of attributes to drive a robust reporting suite and deliver in-depth root cause analysis to help prevent improper deduction and unnecessary repayments back to suppliers.