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
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
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
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.
There are a multitude of complexities in today’s business environment that can hinder audit productivity, ultimately costing you time and money. To overcome these challenges, PRGX utilizes a proven, 6-stage...
Supplier relationships are important in just about every type of industry. But for pharmaceutical manufacturers that often must rely on sole-source suppliers for key materials, preserving those relationships is absolutely...
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...