Data-Driven Insights Increase the Bottom Line
Our retail experts identify and analyze source-to-pay leakage across numerous settings to help you recover lost profit and reduce future process and systems errors. In fact, 75% of the world’s global retailers rely on our industry-leading expertise in data-driven analysis to thrive.
Face These Retail Challenges Head-On
Missed discounts, allowances and rebates may seem small, but their impact can lead to major profit loss. When these opportunities continue slipping through the cracks, you lose revenue – today and in the future. Our comprehensive audits uncover hidden revenue, ensuring no money is left on the table.
When high volumes of transactions are involved, overpayments are virtually inevitable. Maintaining a strong financial position requires identifying and recovering overpayments – and suggesting processes improvement to reduce future occurrences. Trust our proven, secure technology-enabled approach to identify and prevent financial leaks from happening again.
Corralling Vendor Data
You deal with thousands of vendors each year, each having their own contractual requirements. Efficient, automated ways to maintain quality vendor data that ensure compliance is critical to your day-to-day operations. Rely on our skilled auditors to do the heavy lifting on your vendor management processes and ensure contractual obligations are met without disrupting relationships.
Decades of Diligence
For five decades we’ve performed audits for retailers. Our clients benefit from a global center of excellence that ensures best practices are shared throughout each of our offices around the world. We then build teams to dive deeper into retail sub-verticals to elevate outcomes among retailers.
Retail Merchandise Audit
Recover Money Quickly
Thousands of vendors, tens of thousands of items in inventory and millions of transactions – with countless moving parts – create an environment that’s effective at hiding things such as unapplied discounts and under-deductions. Our Retail Merchandise Audit solution identifies gaps in processes and systems to prevent future errors, all while helping you recover money quickly. That’s why we’re trusted by 75% of the world’s largest retailers.
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.
ERROR PREVENTION SOLUTIONS FOR RETAIL
The PRGX Preventive Audit is a technology-enabled solution with a configurable workflow engine that can integrate into to your current environment. The platform logic leverages our knowledge of the data, business processes, and recovery auditing expertise, moving it upstream in the process. It ingests daily data feeds, monitors contracts against planned performance, and flags potential gaps for correction before the promotion occurs. Leveraging enterprise workflow, the corrections are routed to the appropriate areas for review, based on your business rules.
Download Our White Paper: "Contract Audit: The Power of Prevention" Traditionally, supplier contract audits have focused on finding past billing errors and working to recoup funds, but times are changing....
Download Our White Paper: "How Artificial Intelligence And Machine Learning Are Transforming Recovery Audit" Explore how advanced analytics are shifting recovery audits from retrospective to preventative in our exciting...
Download Our E-book: "Five Best Practices for Renegotiating Supplier Contracts" Discover why supplier contracts don’t always deliver the value expected and how to get more out of contract negotiations...