How PRGX helps category management and merchandising leaders.
A comprehensive approach with whole business health benefits
Increased audit program value
Contract Analytics maximizes value and accelerates ROI, by using the data already captured during the audit cycle to deliver rapid insights into trends and anomalies.
Enhanced contract visibility
By digitizing your contract repository and tagging key terms for on-demand risk assessments, we enable you to quickly sort, search and surface information on supplier relationships.
Real-time event monitoring
Never miss a key event, with real-time alerts that flag when contracts are coming up for renewal, when auto-renewal terms have been added, and other renewal-related notifications.
Analysis of contracts
- Optical Character Recognition (OCR) and Natural Language Processing (NLP) support the extraction of key clauses
- View contract count by category, supplier, type, contact term, payment term, renewal term, etc.
- Provide a single snap shot into your direct and/or indirect portfolio
Central view into expiry
- Sort agreements by time of expiry to plan ahead for negotiations
- Leverage the search feature to find agreements with clauses that may not align to your policy (i.e. auto-renewal, Net 15 payment term, punitive indemnification, etc.)
- Quickly find renewal notice verbiage to get ahead of deadlines
- Surface "shadow" agreements negotiated outside of procurement amalgamating agreements across departments and business units
- Surface misaligned terms spanning limitation if liability, indemnification, auto-renewal, etc. and re-negotiate
- Avoid missed deadlines to terminate agreements or stave off price increases
Why work with PRGX?
Powerful insights, easy to use interface
PRGX has drawn on more than five decades of experience helping clients improve processes and practices. Lumen™ is the result: a dedicated analytics solution that drives measurable cash flow improvement and deploys quickly. With interactive dashboards, pre-built insights and opportunity finders, Lumen™ Advanced Analytics makes it easier to generate new value from your existing contract data.
An industry leader, for 50 years and counting
An industry leader with a track record spanning 50 years, we’ll do the heavy lifting on your behalf to deep-dive on billing compliance and deliver actionable insights other providers might miss. The resulting recommendations will enable your organization to recover profits and reap the long-term health benefits of stronger processes.
Putting S2P data at the heart of healthy businesses
We believe S2P data is packed full of insights that can benefit the health of the whole business. From the big picture across departments to the critical details within the supply chain, it’s where you can find all the information you need to create healthier processes, relationships and margins — and we have the experience, technology and expertise to help you unlock it.