A Customized Solution to Fit Your Needs
One-size-fits-all audit programs target rapid payback by finding basic errors only. Our customized solution goes far deeper by identifying and recovering lost profit to pinpoint gaps in business processes and systems that create errors. Our combination of advanced audit technology and proven experience delivers the most comprehensive audit available, enabling you to improve profitability now and in the future.
What is Accounts Payable Recovery Audit?
What is the goal of a PRGX accounts payable recovery audit? Standard accounts payable audits address common errors in procurement and accounts payable processes, which can result in as much as 5% to 10% of profit being lost. John Heighway, PRGX VP of Business Development for UK and Europe, dives into the PRGX accounts payable recovery audit solution. Watch the video to learn more today!
Despite advanced supplier invoice processing systems, inadvertent errors lead to overpayments, under-deductions and ultimately, profit loss. We help you identify and correct these risks while recovering lost profit from:
- Duplicate payments
- Unused statement credits
- Processing errors
Complicated Internal Processes
Intricate, broken business processes, personnel turnover, siloed functions and human error can cause leaks in your source-to-pay system. We identify gaps in business processes and offer actionable insights to prevent reoccurrences.
PRGX Leads the Industry in Recovery Overpayments
Overpayments are inevitable for most transaction-intensive companies – but finding them, recovering them and keeping them from happening again delivers real value to your bottom line. For 50 years we’ve mastered Recovery Audit and continue to be a global leader, recovering more than $1.2 billion annually for our clients.
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...