Services to Uncover Hidden Resources & Profits
Whether looking for resources to fund R&D or reducing leakage inherent in CRO relationships, PRGX delivers services like traditional Accounts Payable Recovery Audit and Contract Compliance to help identify sources of profit leakage and recover lost profits.
Business Challenges for Pharmaceutical Companies
Getting to market rapidly and safely with a new drugs is the lifeblood of your business. R&D is a complex, costly and constant necessity that requires a steady stream of working capital.
CRO relationships are frequently fraught with financial leakage, limiting your ability to make critical investments in your business. Identifying and sealing those profit leaks and managing contract compliance is mission critical.
New Drug Launches
Approval of a new drug is just the beginning. From packaging and advertising to sales force deployment, getting to market with a compelling patient story requires significant capital.
Cash Chain Optimization
PRGX’s fact-based approach combines data with our deep industry benchmarking and analytical capabilities to provide visibility into current payment terms across suppliers, categories and business units. We’ll uncover optimization opportunities in three key areas:
- Days Payable Outstanding
Ensure a long and standard payable cycle while meeting on-time expectations
- Days Sales Outstanding
Fulfill orders and achieve payments in the quickest possible manner
- Days Inventory Outstanding
Manage inventory to meet demand while minimizing holding and transfer costs
Built to recover overpayments, we’ll help analyze more than 300 potential points of leakage including merchandising, accounts payable and contract compliance.Learn More
Armed with the right facts and statistics, we regularly help our clients drive inefficiency out of their Source-to-Pay cycle and uncover hidden profits. We also deliver non-software-based services such as Item-Level Cost Harmonization.
- Source-to-Pay Assessments & Strategy
- M&A Services
- Cash Chain Optimization
Supplier Information Management
Organize and manage comprehensive supplier information while maximizing supplier engagement and data quality across a global supplier base to minimize risk and increase efficiency.Learn More
Contract Compliance Audit
We can help reduce contractual risks and maximize supplier performance, focusing on the suppliers and contracts that present the greatest risks. You’ll get maximized returns, reduced risk and insights that improve supplier contract management and controls moving forward.
- Supplier Contracts
- Capex & Construction
- Advertising & Marketing
- Licensing Contracts
- Prepayment Review