ATLANTA, October 17, 2017 — PRGX Global, Inc. (Nasdaq:PRGX), a global leader in Recovery Audit and Spend Analytics services, today announced the signing of a multi-year SaaS technology services contract with The Kroger Co. to provide supplier communications and support services using PRGX’s Lavante® Supplier Information Management (SIM) technology platform. This solution will give Kroger the ability to provide its suppliers with easier access to billing details thereby enabling resolution of billing and claims inquiries in a more timely, effective and cost-efficient manner. Delivery of services will begin later this year and ramp up through the first half of 2018.
“We are very proud of our relationship with Kroger, and particularly, Kroger’s recognition of our value proposition of helping reduce costs and optimize the effectiveness of vendor management programs,” said Ron Stewart, president and CEO of PRGX. “This technology solution is an important and logical extension of our Recovery Audit Services business and represents solid progress on our commitment to use our clients’ data to deliver EBITDA and working capital improvement opportunities on a large scale.”
PRGX Global, Inc. is a global leader in Recovery Audit and Spend Analytics services. With over 1,500 employees, the Company serves clients in more than 30 countries and provides its services to 75% of the top 20 global retailers and over 30% of the top 50 companies in the Fortune 500. PRGX delivers more than $1 billion in cash flow improvement for its clients each year. The creator of the recovery audit industry more than 40 years ago, PRGX continues to innovate through technology and expanded service offerings. In addition to Recovery Audit, PRGX provides Contract Compliance, Spend Analytics and Supplier Information Management services to improve clients’ financial performance and manage risk. For additional information on PRGX, please visit www.prgx.com
In addition to historical information, this press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the anticipated success of the Lavante platform and managed services for Kroger, the Company’s overall condition and growth prospects, the Company’s execution of its transformation strategy, the Company’s investments in, and opportunities associated with, its growth platforms, including its supplier information management services business. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the historical results or from any results expressed or implied by such forward-looking statements. Risks that could affect the Company’s future performance include revenue that does not meet expectations or justify costs incurred, the Company’s ability to develop material sources of new revenue in addition to revenue from its core recovery audit services, changes in the market for the Company’s services, the Company’s ability to retain and attract qualified personnel, the Company’s ability to integrate recent and future acquisitions, the Company’s ability to integrate the Lavante acquisition, uncertainty in the credit markets, the Company’s ability to maintain compliance with its financial covenants, client bankruptcies, loss of major clients, and other risks generally applicable to the Company’s business. For a discussion of other risk factors that may impact the Company’s business, please see the Company’s filings with the Securities and Exchange Commission, including its Form 10-K filed on March 16, 2017. The Company disclaims any obligation or duty to update or modify these forward-looking statements.