Understand More, Spend Smarter
PRGX goes beyond basic topline analysis, digging deeper so you can see the big picture in your Source-to-Pay cycle. Understanding the complexities gives you a clear and holistic view of your process and helps you optimize your bottom line.
Spend Visibility & Classification
Uncovering information on what’s being bought, by whom and at what cost is a data-intensive effort. PRGX is an expert at managing and transforming data into spend insights and can help you more efficiently make sense of your data. We use a combination of internal and third-party spend analysis tools and resources to gather, cleanse, enrich and classify your spend data based on your own spend taxonomies or a taxonomy that we help develop. The end result is lower costs through savings from sourcing, risk mitigation, compliance and performance.
Purchase Price Variance
It’s not unusual for costs on the same product to vary three to five percent between regions within a single retail organization. Even small variances can translate into millions of dollars in lost profit. We use Global Product Aggregation with product-code-matching algorithms to help you identify “quick hit” savings opportunities and be better prepared for supplier negotiations.
True Net Cost
Be better prepared to negotiate reductions in COGS by knowing the true net cost you’re paying. We correlate and aggregate disparate data sources and use our knowledge of supplier deals, deal systems and unstructured data to calculate the front and back supplier funding and margin at the item level. We’ll help you analyze profitability by product, category and supplier and use these insights to negotiate reductions in COGS.
To maximize profits, you need to understand which promotional program structures are most effective in delivering the greatest sales lift and margins. We integrate promotional and sales data with item-level insights so you can compare the effectiveness of program structures both in terms of sales lift and margin generated by item and market basket analytics.
Master Data Cleanse & Management
Throughout many of the Source-to-Pay Analytics exercises, we’ll clean up a significant number of records in your databases, including nomenclature standardization, de-duping and correcting bad data. In order to reduce future Source-to-Pay requirements, we’ll help keep your data clean and accurate.