PRGX Shares Preventative Contract Compliance and Vendor Relations Strategies at ProcureCon Indirect and Procurement Leaders’ World Procurement Congress

Rhea-AI Summary

PRGX Global recently participated in ProcureCon Indirect and will present at the Procurement Leader’s World Procurement Congress. VP Jon Daniells emphasized the need for a preventative approach to supplier contract audits amidst the ongoing COVID-19 pandemic. His presentations will focus on identifying root causes of overpayments, enhancing contract audit programs in a digital economy, and transitioning from reactive to proactive auditing strategies. This initiative aims to bolster procurement leaders' efficiency in supplier relationships and maximize value in source-to-pay processes.

Positive

• PRGX's focus on a preventative approach to audits could lead to increased cost savings for clients.
• 75% of top global retailers and a third of Fortune 500 companies rely on PRGX's services, indicating strong market trust.

Negative

• The emphasis on past billing errors may suggest that current audits are not adequately addressing ongoing issues.
• Dependence on events for knowledge sharing raises concerns about the company's proactive capabilities.

Virtual events address innovative technology applications, transitioning to real-time procurement and how procurement professionals can get more value out of source-to-pay processes

ATLANTA, Nov. 03, 2020 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq: PRGX), a global leader in recovery audit and spend analytics services, announced it was a featured speaker at ProcureCon Indirect on October 28 and will present at Procurement Leader’s World Procurement Congress on November 4, 2020 at 2 PM GMT.

Traditionally, supplier contract audits have focused on identifying past billing errors and recovering those overpayments. These historical recoveries, while still an important element of any recovery audit program, fail to correct root cause issues and prevent profit leakage from occurring again. As companies continue to weather the COVID-19 pandemic, it is critical they adopt a preventative approach to contract audits, one designed to locate errors rapidly or in real-time.

To help procurement leaders foster more transparent, efficient supplier relations, PRGX VP of Audit Operations Jon Daniells gave a presentation on “Building a Diverse Supplier Base and Partnering for Mutual Growth” at this year’s virtual ProcureCon Indirect. Daniells will also present a case study at Procurement Leader’s World Procurement Congress demonstrating how companies can adopt a preventative approach to contract audits, including:

• The pathway to prevention: Examining the broad spectrum of where overpayments originate and how best to identify and correct root causes;
• Supercharging results: How to grow and expand the value of a contract audit program in a digital economy; and
• From reactive to proactive: Key steps to building a program that identifies issues quicker, leading to immediate and sustained cost savings.

“Conferences such as these create new opportunities for finance and procurement professionals to share innovative procurement strategies and methodologies that add meaningful value to their business,” said Daniells. “We are excited to take part in this event and exchange inspirational ideas and creativity for attendees to tackle key challenges within today’s modern procurement, supply chain and source-to-pay cycle.”

For more information on PRGX or to schedule a meeting around World Procurement Congress, please visit: https://www.prgx.com/contact/

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
jhamilton@arketi.com

FAQ

What was PRGX Global's recent presentation about?

PRGX Global's recent presentation focused on adopting a preventative approach to supplier contract audits to identify and correct root causes of overpayments.

When is PRGX presenting at the Procurement Leader’s World Procurement Congress?

PRGX is scheduled to present at the Procurement Leader’s World Procurement Congress on November 4, 2020, at 2 PM GMT.

How does PRGX help companies optimize their procurement processes?

PRGX helps companies optimize their procurement processes by identifying overpayment causes and enhancing the efficiency of source-to-pay data usage.

What percentage of top global retailers use PRGX services?

Approximately 75% of top global retailers utilize PRGX's services.