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.
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...
Supplier relationships are important in just about every type of industry. But for pharmaceutical manufacturers that often must rely on sole-source suppliers for key materials, preserving those relationships is absolutely...
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...