Contract Audit Building Self-Funded, Lower-Touch, High-ROI Programs
Webinar presents case studies from best-in-class companies on how to create, implement and execute robust contract audit programs
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-low ....
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.
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