E-book explores COVID-19’s impact on the source-to-pay cycle, common challenges companies face and how to overcome them
ATLANTA, Jan. 18, 2021 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq: PRGX), a global leader in recovery audit and spend analytics services, announced its e-book, “Why Recovery Audit Remains Essential in 2020,” is now available for download here.
While the number of remote work opportunities have increased over the years, the rapid impact of the COVID-19 pandemic forced many finance teams to pivot entirely to remote work overnight. The chaos caused by these rapid changes raises the risk of invoice errors, missed credits and overpayments – at a time when companies are trying to maximize cash flow as much as possible.
Now, finance departments around the globe are adapting to this new environment and applying lessons learned over the previous year to improve source-to-pay processes and controls. As companies prioritize cash flow and margin improvements, PRGX’s “Why Recovery Audit Remains Essential in 2020” e-book offers key tips to:
Create effective internal partnerships and secure support from upper management;
Enhance and expand recovery audit techniques;
Identify common errors, particularly those that have increased due to COVID-19; and
Implement transformation programs and technology that drive recovery audit results.
“Last year presented a new level of change and uncertainty that many of us have never experienced before, and it is unrealistic to believe processing and payment errors have not occurred as a result,” said Angie Holsen, Senior Director of Client Relationships for PRGX. “To stay effective in uncertain times, it is essential for companies to put collaboration and communication first so issues can be identified, and resolved, quickly.”
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.