Originally published in CFO Dive: March 26, 2020

CFOs strapped for working capital by the coronavirus business slowdown might find relief by accelerating forensic audits to recover misspent money, Ron Stewart, CEO of PRGX, told CFO Dive.

Between 1% and 3% of the money companies spend annually on services or for supplies is duplicative or incorrectly calculated, making it low-hanging fruit for CFOs looking to shore up their company’s cash position, Stewart says.

“In these times, what we’re seeing is everybody’s scrambling for working capital and there’s a lot of working capital that’s right in front of you that’s lost in the complexity of your processes or systems,” he said.

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