Recover & Reduce Overpayments
With the vast number of moving parts in your business, it’s virtually impossible for every cost negotiated up front to be accurately reflected in the back-end payment process. When you put PRGX’s highly skilled auditors and technology to work for you, you can expect to recover between .1% and .3% of your total spend.
Our data experts are adept at quickly mining large amounts of data to uncover overpayments. We have identified and will explore 300 potential points of leakage in your processes. With our contingency-based model, there’s no risk and significant upside potential for your operating results.
PRGX Recovery Audit Process
Retail Merchandise Audit
Many retailers carry tens of thousands of SKUs, creating high transaction volume and complexity. While most transactions are processed accurately, even a small percentage can add up to millions of dollars in overpayments. PRGX’s high-performance data platform uncovers overpayments across your entire retail merchandising process, including:
- Grocery Warehouse
Accounts Payable Audit
PRGX’s speed, combined with its experienced team, global delivery process and innovative solutions, enables us to deliver high recovery yields and ROI with less supplier abrasion. We audit payments on a near real-time basis to identify and recover overpayments quickly and help you avoid the same mistakes in the future. In addition, PRGX offers a cloud-hosted self-audit tool that provides end-to-end duplicate payments audit management.
Our comprehensive approach audits all major factors of your AP process, including:
- Escheatment Avoidance
- Sales and Use Tax VAT
Contract Compliance Audit
Some of the most costly overpayment errors are related to contractual clauses governing supplier self-reporting of information used in financial calculations. It’s essential that you mitigate these types of contractual risks and maximize supplier performance. PRGX will help you focus on the suppliers and contracts that present the greatest risks, maximizing your returns, reducing your risk and providing insights that improve supplier contract management and controls moving forward.Learn More
Commercial Recovery Audit
PRGX is more than the pioneer of Recovery Auditing. Our drive, experience and continued innovation have led to the creation of industry leading software and algorithms, capable of ingesting petabytes of data and discovering over 300 unique points of profit leakage. Whether your business helps fuel the human mind and body with Pharmaceuticals, or empowers the Distribution & Logistics of various people and cargo through Natural Resources, Energy & Utilities,
PRGX provides the most efficient solution and effective services to support your entire audit:
- Document Collection & Management
- Experienced Auditors
- Advanced Duplicate and Over Payment Processing
- Vendor Statement Auditing
- Verification Services
- Real-Time Reporting
- Supplier Insights
- Updated Supplier Accounts Receivable Contact Details
[video width="1280" height="720" mp4="https://www.prgx.com/wp-content/uploads/2018/11/A-Data-Driven-Approach-to-Strategic-Sourcing.mp4"][/video] Leakage occurs throughout the Source to Pay process and choices at the beginning often dictate how efficient the overall process flows. Your sourcing organization is critical...
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[video width="1920" height="1080" mp4="https://www.prgx.com/wp-content/uploads/2018/10/Recording-1.mp4"][/video] Many challenges exist in the Source-to-Pay (S2P) cycle. Companies are constantly challenged to find new efficiencies, identify leakage points to capture savings, and...