Using proprietary technology, we quickly and securely ingest large volumes of disparate, complex data that may be overwhelming to internal business teams into a single system. Layering in artificial intelligence, machine learning and data science, our Advanced Analytics team provides insight above and beyond what can be found in traditional source-to-pay audits – while identifying revenue-generating opportunities hidden deep inside your data.
What is Advanced Analytics?
What is the goal of Advanced Analytics? Jin Ro, PRGX Chief Analytics Officer provides an overview of the PRGX Advanced Analytics solution and how it helps businesses rapidly uncover insights, take action and achieve bottom-line results. Watch the video to learn more today!
Cash Flow Optimization
Business optimization and growth are contingent upon a steady stream of working capital to fund these initiatives. But for many, inefficient source-to-pay cycles and simply paying vendors too early are creating numerous missed opportunities to reinvest in your organization. Trust our analytical expertise to find and monetize these inefficiencies, creating short and long term opportunities to optimize your cash flow in areas including:
- Days payable outstanding (DPO)
- Days inventory outstanding (DIO)
- Days sales outstanding (DSO)
- Accounts payable transformation
Complex System Architecture
Various legacy systems that span many business units, geographies and locations become increasingly complex over time, ultimately creating numerous leaks in your source-to-pay data. Our in-depth analytics quickly and accurately pull together diverse data pools and systems to create strategies that identify opportunities, minimize risk and optimize the strength of your operations.
Inconsistent Spend Categorization
Spend visibility, categorization and normalization issues leave gaps in your processes and systems. Our proprietary big data infrastructure and spend classification technology efficiently closes these gaps, while providing actionable insights and remediation strategies regarding:
- Spend classification and vendor normalization
- Advanced category analytics
- Category wave planning and opportunity assessment
- Category strategy and tail spend planning
- Control of spend under management
- Long-term category playbooks
PRGX Leads the Industry in Recovery Overpayments
Overpayments are inevitable for most transaction-intensive companies – but finding them, recovering them and keeping them from happening again delivers real value to your bottom line. For 50 years we’ve mastered Recovery Audit and continue to be a global leader, recovering more than $1.2 billion annually for our clients.
Accounts Payable Recovery Audit
Outsmart the Spend Cycle
Although untapped value exists within your source-to-pay data, the resources for finding that value are scarce. Common errors like duplicate payments can lead to millions of dollars in lost profit. Our Accounts Payable Recovery Audit helps companies identify and recoup funds across a myriad of settings and prevents the errors from happening again.
Our comprehensive approach reviews all major factors of your accounts payable process, including:
- Escheatment avoidance
- Sales and use tax
Retail Merchandise Audit
Recover Money Quickly
Thousands of vendors, tens of thousands of items in inventory and millions of transactions – with countless moving parts – create an environment that’s effective at hiding things such as unapplied discounts and under-deductions. Our Retail Merchandise Audit solution identifies gaps in processes and systems to prevent future errors, all while helping you recover money quickly. That’s why we’re trusted by 75% of the world’s largest retailers.
Realize Maximum Contract Value
With the significant number of third parties you manage, making sure they fully deliver on contracted terms can be a huge task. Our Contract Compliance Audit services help ensure that your contracts are thorough and effective and that all third parties are performing and invoicing to your negotiated agreements.
Our services cover:
- Price variance
- Labor rates and per diems
- Equipment and materials
- Mark-ups and multipliers
- Profit and overhead
There are a multitude of complexities in today’s business environment that can hinder audit productivity, ultimately costing you time and money. To overcome these challenges, PRGX utilizes a proven, 6-stage...
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Originally appeared in Technology Magazine's July 2021 Edition. Overpayments, missed discounts, shipment shortages: these errors are not strangers to companies coping with the aftershocks of COVID-19. While supply chains have...