If you’re like most large companies, you have a ton of supplier contracts leaking money. But you don’t have the expertise or scalability you need to fix them. That’s why our approach uses decades of contract experience with proprietary AI tools to eliminate leakage at three different phases of the contract lifecycle. And align your contracts to your unique procurement goals with unmatched speed.
AI-Powered PRGX Contract Management
Elevating compliance. Optimizing performance. Continuously monitoring.
Go beyond just fixing contract inefficiencies. PRGX Contract Management combines purpose-built AI contract review with specialized expertise to deliver millions in savings, powerful insights, and smarter supplier contracts.
Go beyond just fixing contract inefficiencies. Create smarter supplier contracts that actively make you money with PRGX Contract Management’s unique blend of personalized expertise and secure AI technology.
All powered by PRGX Contract Insights™ AI
Contract Insights is our AI-powered contract intelligence platform that allows our team to get a comprehensive view of your company’s contract ecosystem. This proprietary technology combined with human expertise allows PRGX to ensure compliance, deliver terms proven to perform, and monitor your contracts in real-time—all at scale, while keeping your data secure.
Why choose PRGX Contract management?
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Join these smart businesses enjoying smarter contracts…
“It has opened our eyes—from pure leakage to getting to best in class. There are so many opportunities to restructure how we do our contracts, how we can standardize, and how our contracts can reach a golden standard.”
Head of Strategic Sourcing
Fortune 50 Technology Company
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AI-Powered Contract Management
Why do I need Contract Management Services if I already have a CLM system?
CLM systems handle document mechanics like creation, signatures, and storage. Despite having CLM systems, enterprises still experience 12-18% in non-compliant supplier spend. PRGX Contract Management solutions include Contract Compliance reviews to see where you are making overpayments or the wrong rates are being applied, and helps you clarify billing processes with your provider as well as recover losses. Contract Optimization comes in to help negotiate the best terms for both parties based on industry benchmarks and mutual goals. Contract Monitoring helps ensure that you receive the value you negotiated in real-time, proactively correcting errors.
How does Contract Management help Supplier Relationship Management?
PRGX Contract Management solutions promote transparency and fact-based supplier conversations while identifying areas for improvement that might otherwise remain hidden. By facilitating clearer communication during both routine operations and when addressing discrepancies, they help recover losses and generate future savings that bring money back to your business. The combination of better terms, improved compliance, and optimized processes creates healthier, more productive supplier relationships with tangible financial benefits.
What are the key phases of PRGX Contract Management solutions?
Three integrated phases work together to drive business savings and reduce spend leakage:
- Contract Compliance: Analyzes contracts versus actual spend to identify errors and recovery opportunities.
- Contract Optimization: Uses industry benchmarks and insights to identify opportunities for standardization and improvement.
- Contract Monitoring: Establishes ongoing tracking of billings, contracts, and SLAs to ensure continuous compliance.
These phases are enhanced by the PRGX Contract Insights™ AI platform.
How does Contract Compliance Audit deliver both cash back and future savings?
Contract Compliance audits apply AI lead by human expertise to examine existing contracts retroactively to ensure compliance and identify financial recoveries. By analyzing contract language, billing intent, and transaction data, these reviews empower teams with insights while navigating complex pricing structures and regional variations.
How does Contract Optimization improve working capital management?
Contract Optimization enhances future arrangements by standardizing terms across similar suppliers, delivering benefits like simplified contract comparison, faster negotiations, improved payment terms, and increased cost savings through volume discounts and early payment incentives.
How does Contract Monitoring enhance supplier risk management?
Contract Monitoring ensures optimization efforts deliver maximum ROI by continuously tracking billings, spend, and contract terms. Think of it as a health check on supplier relationships—catching discrepancies early maintains smooth communications and preserves working capital.
How does AI enhance PRGX Contract Management solutions?
PRGX’s purpose-built Contract Insights tool processes large volumes of data to quickly identify both obvious issues and nuanced opportunities. By leveraging decades of experience in S2P and supplier contracts, Contract Insights is specially trained to find savings opportunities across tens of thousands of contracts and over 100 clauses. Industry experts apply the tool findings and their knowledge to help companies recover losses and standardize across their contracts.
