Leveraging Insights from your Data with No Additional Investment
Higher demands are being placed on Accounts Payable teams to deliver more business insights from a company’s spend and contract data. However, in many cases that data needs to be consolidated from multiple sources and systems to get a complete picture of the S2P landscape.
Even if you have managed to consolidate the data, where do you begin to find insights that can support cost improvements – and then visualize it for your stakeholders?
With AP Intelligence, PRGX delivers a single solution that combines our industry-leading Accounts Payable Recovery Audit with the data-driven Lumen™ Accounts Payable Analytics. This combination organizes your data in one place, to help you identify opportunities that align with your initiatives, and inform smarter decisions.
AP Intelligence empowers your team with additional diagnostics and insights without the need for additional budget.
With AP Intelligence, You Can Quickly:
+ Gain enhanced access to your most valuable asset – data
+ Drive better decisions with insights derived from spend and payment history
- Working capital improvement
- Payment performance
- Spend visibility and rationalization
+ Mitigate vendor risks, including identifying fraud indicators
+ Prevent duplicate payments before they occur and uncover their root cause to eliminate recurrence (optional)
+ Apply contract intelligence to rapidly identify and organize specific terms and conditions with the highest likelihood to cause financial leakage (optional)
ACCOUNTS PAYABLE RECOVERY AUDIT + ADVANCED ANALYTICS
Accounts Payable Recovery Audit
PRGX conducts a full-scope Accounts Payable Recovery Audit to identify overpayments, missed discounts, wrong vendor payments, and more. Our audit services drive cash flow and uncover the root cause of errors to help you fix business processes, close gaps, and prevent recurrence.
PRGX Lumen™ utilizes data science, artificial intelligence and machine learning to provide insights above and beyond what can be found in traditional AP audits. Lumen delivers robust payment, spend, and contract analytics to support working capital initiatives, increase visibility into Direct and Indirect spend, and mitigate risk from your supplier contracts.
By leveraging the data you provide for the Accounts Payable Recovery Audit, and integrating into one consolidated view, we can help you discover actionable insights to drive better decision making.
AP Intelligence can generate immediate value for your organization. Our team of accounts payable data experts quickly map and configure your data to “go-live”, and deliver actionable insights through our cloud-based solution.
Easy to Use Interface
As experts in recovery audit, we know the data and review processes required to convert an insight into results. With this knowledge, we have designed the interface to support end-users in converting opportunities efficiently. When you do have questions, our Client Success team is ready to help.
PRGX knows your time is valuable. Lumen™ automates reports to make it easy for you to not only identify opportunities and pinpoint where action is needed, but also provides visualizations and tracking to socialize the value generated for the business.
No Budget Necessary
Bundling our Accounts Payable Recovery Audit and Analytics solutions allows us to offer a self-funded subscription model. Our Analytics solution is funded by the recoveries generated from our AP Audit. Because our Audit is offered on a contingency-fee basis, securing investment dollars is not required. While AP Analytics will be deployed immediately, payment is deferred until there are sufficient audit recoveries to cover the cost of the subscription.
PRGX Solution Suite
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
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
More Data, More Expertise, More Value
Every day that your source-to-pay cycle isn’t optimized is a missed opportunity to find the resources you need to invest in and grow your business. Our Advanced Analytics combine industry-leading consulting and data expertise with robust tools to rapidly uncover insight and take action to deliver bottom-line results.
News & EventsFind out what's happening at PRGX — recent success stories, educational resources, company news or product information.
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