Recovery Audit

Spot Value, Prevent Errors in Your Source-to-Pay Data

Overpayments, missed discounts and under-deductions are inevitable for most transaction-intensive companies. But the complexity of the supply chain – with a global (and growing) supplier base, varying contract terms, siloed functions and fragmented systems – makes finding and preventing these errors nearly impossible with the resources at hand. We can help you reach wider, dig deeper and act faster to uncover the value in your source-to-pay data that even the most sophisticated solutions couldn’t get to before.

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Discover, Recover & Reduce Overpayments

The vast number of moving parts in your business make it difficult to ensure that every negotiated up-front cost is accurately reflected in the back-end payment process. Powered by a secure technology platform and coupled with unmatched audit expertise, we help you recover lost profit – typically between .1% and .3% of your total spend.

Combining proprietary technology with 50 years of industry experience, our auditors quickly review large amounts of data and explore more than 300 potential points of error in your processes all while keeping your data secure. We identify and recover lost profit and help you prevent similar mistakes in the future.

PRGX Recovery Audit Process

 

PRGX Recovery Audit Process

 

PRGX Solution Suite

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:

  • Disbursements
  • Statements
  • Escheatment avoidance
  • Sales and use tax

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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.

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Contract Compliance

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
  • Pass-throughs
  • Profit and overhead

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Advanced Analytics

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.

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Technology-Enabled Platform

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.

 

 

 

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