Gain Value from Better Sourcing Data
You want to get the most from your investment in supplier compliance and risk reduction efforts. Our methodology expands program value by following supplier audit leads to isolate systemic breakdowns that when corrected, can positively impact compliance across your supplier base. Correction of systemic root causes of value leakage multiply total value delivered, often resulting in cost savings that exceed 10% of supplier audit spend.
Improve Supplier Compliance with these Procurement Strategies
Leverage Lessons Learned
Your efforts have identified and corrected system issues, but you’ll need to create a feedback loop to ensure your staff is leveraging what you’ve learned to improve practices going forward. We provide the right learning opportunities to quickly educate your busy teams through a variety of communication channels, including regular learning loop feedback, contract audit workshops, lunch & learn sessions, case studies, critical alerts and a high risk terms reference library.
Informed Contract Renewals
You’re preparing for a renegotiation with a key supplier, but you may lack clear understanding of all the compliance gaps that should be corrected in the new contract. PRGX Audit Services provide the intelligence and insight to better understand how to improve commercial terms compliance, enhance transaparency and future auditability, and drive down contract financial risk.
Future Audit Success
You negotiated a tight contract, but learn the supplier hasn’t retained an audit trail to determine compliance. We help clients ensure their contracts are written to improve audits in the future and define the necessary supplier billing practices that will improve transaparency and ensure compliance can be validated going forward.
Accounts Payable Recovery Audit
Built to identify and recover overpayments, our proven process analyzes more than 300 potential points of leakage to help you recover hidden profit and minimize future risks.
Because no two contracts are the same, we diligently analyze the nuances of your existing contracts to help ensure conditions are met and operations remain compliant.
We dig deeper than traditional recovery audits, delivering strategies that spot the inefficiencies in your source-to-pay cycle, uncover hidden profit and optimize your working capital.
Protecting highly sensitive client data
We utilize a unique technology triad that enables our specialized teams to efficiently and securely perform a variety of audits – to help you uncover value in your processes. Our proprietary platform, the Verigon™ Solution Suite, rapidly takes in huge volumes of transaction data from accounting, ERP, procurement and other systems. Once captured and streamlined, data is housed in our Epiphany Data Foundation™- the foundation of our recovery audit, contract compliance and advanced analytics solutions. At the same time, enjoy complete visibility into the audit process and fund recovery via our Panoptic™ Compliance Audit Platform.
To help keep our client data secure, our technology maintains the privacy, integrity and controlled use of confidential information, including personally identifiable information through a combination of hardware, software and physical security, coupled with strong internal data security processes, procedures and controls that meet or exceed relevant laws, regulations and industry best practices.
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