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.
Originally appeared on Consumer Goods Technology, June 10, 2021 The development and manufacturing of any given product has numerous suppliers and contracts associated with it. Supplier contracts for labor, equipment,...
Originally appeared on Supply Chain Quarterly, June 11, 2021 Far too often enterprises fail to invest in facilities management contract audits because they don’t think they have the time or...
Originally appeared in Supply Chain Brain on June 4, 2021 Companies are constantly on the lookout for ways to increase cash flow and reduce risk. One often-overlooked method for reducing...