Contract Audit: Building Self-Funded, Lower-Touch, High-ROI Programs

Rhea-AI Summary

PRGX Global, Inc. has made its recent webinar, “Contract Audit: Building Self-Funded, Lower-Touch, High-ROI Programs,” available for viewing after it was hosted on September 10, 2020. The webinar highlights the importance of contract audit programs in recovering lost profits by reviewing vendor contracts and ensuring compliance. PRGX emphasizes that while profit recovery is crucial, these audits also enhance contract efficiency. With over 300 identified points of leakage, PRGX assists clients in optimizing their source-to-pay processes to reclaim $1.2 billion annually.

Positive

• The webinar provides insights on implementing cost-effective contract audit programs.
• PRGX identifies over 300 common points of profit leakage, enhancing recovery potential.
• 75% of top global retailers and a third of Fortune 500 companies utilize PRGX's services.

Negative

• None.

ATLANTA, Sept. 11, 2020 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq: PRGX), a global leader in recovery audit and spend analytics services, announced its recent webinar, “Contract Audit: Building Self-Funded, Lower-Touch, High-ROI Programs,” is now available for viewing.

Contract audit programs not only help companies recover millions of dollars in lost profit each year by reviewing vendor contracts for existing or potential cash leakage but also verify compliance to identify corrective actions. However, most procurement departments lack the bandwidth and expertise necessary to conduct a robust, in-depth contract audit program, which can lead to significant profit leakage over time.

Hosted by three contract compliance experts, PRGX’s “Contract Audit: Building Self-Funded, Lower-Touch, High-ROI Programs” webinar outlines how procurement teams can create and implement successful audit programs that return cash back to their company’s bottom line, limit future profit leakage, employ minimal in-house resources, and utilize self-funding mechanisms.

“The value of a contract audit program goes well beyond profit recoveries alone. While they are a key benefit, audits also open the door to creating more efficient contracts by reviewing past language and terms,” said PRGX VP of Audit Operations Jon Daniells. “The structure of your contract audit program matters, however. By establishing a multi-phased program, procurement departments can leverage self-funding mechanisms that return value through historical cost recoveries and future savings.”

The webinar, which was hosted on September 10, is available at https://www.prgx.com/resources/contract-audit-building-self-funded-lower-touch-high-roi-programs/.   

About PRGX
PRGX helps companies spot value in their source-to-pay processes that other sophisticated solutions didn’t get to before. Having identified more than 300 common points of leakage, we help companies reach wider, dig deeper, and act faster to get more value out of their source-to-pay data. We pioneered this industry 50 years ago, and today we help clients in more than 30 countries take back $1.2 billion in annual cash flow. It’s why 75% of top global retailers and a third of the largest companies in the Fortune 500 rely on us. For additional information on PRGX, please visit www.prgx.com.

Media Contact:
Jacob Hamilton
Arketi Group
678.863.9860
jhamilton@arketi.com

FAQ

What is the focus of PRGX's recent webinar?

The webinar focuses on building self-funded contract audit programs that yield high returns on investment.

When was the PRGX webinar hosted?

The PRGX webinar was hosted on September 10, 2020.

What are the benefits of contract audits according to PRGX?

Contract audits help recover lost profits, verify compliance, and improve contract efficiency.

How much annual cash flow does PRGX help clients reclaim?

PRGX helps clients reclaim $1.2 billion in annual cash flow.

Who relies on PRGX's services?

75% of top global retailers and one-third of Fortune 500 companies rely on PRGX's services.