Find Hidden Profit
The fluidity of the oil & gas industry means that constant reviews and optimization are required to compete. We help keep you competitive by identifying and minimizing profit loss, maximizing value and mitigating exposure and risk.
Face These Oil & Gas Challenges Head-On
Working Capital Requirements
A steady stream of working capital is required to manage daily business needs – whether for contracted labor, equipment maintenance and repair costs or addressing decarbonization efforts. Our secure technology-enabled approach works to identify your hidden capital to keep your operations on track.
Making sure your suppliers adhere to contract agreements can be a challenge, as non-compliance can be a source of major financial risk. We work with you to uncover and mitigate risk, leading to improved contract negotiations and relationships.
Ongoing Capex Demands
Since staying ahead of the competition requires continuous investment in geographic expansion, new technologies and R&D, having a strong cash position is critical. Our comprehensive audit services minimize hidden revenue to ensure you have the capital backing to drive your organizational growth.
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
- Negotiated supplier agreements
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.
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.
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...
PRGX has been featured in the July issue of Technology Magazine. In this exclusive interview, Andy Green, Vice President of Global Infrastructure and IT Operations, discussed the growing importance of...
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,...