Working Capital: Three strategies to free up cash and manage suppliers
Organizations that are not actively managing their supplier days to pay are missing out on a huge Working Capital opportunity. This webinar outlines the common reasons businesses pay their suppliers too early, missed opportunities in doing so, how to understand your company’s supplier payment trends and how to implement a beneficial working capital plan.
RecordedMar 18 202029 mins
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Never has it been more critical for decision makers to have a clear, impartial, and data-driven perspective of how factors such as COVID-19, the re-opened economy and the presidential election will impact companies moving forward. This session from ITR Economics will help you determine the best course of action for the most important part of the economy – you and your business.
Rashmi Airan is a keynote speaker and consultant whose mission is creating organizational cultures focused on integrity, authenticity and accountability. Don’t miss this opportunity to hear Rashmi share the lessons she learned from her ill-fated business decision, which resulted in her serving a federal prison sentence and set her on the path to redemption and founding her business to empower business leaders to make risk-informed decisions. In this session, Rashmi sets forth the framework required to ensure ethical decision-making and the problem-solving processes that result in organizational cultures of integrity.
2020, with its unprecedented challenges and heightened uncertainty – ranging from a global pandemic, to the rapid shift to work-from-home, to supply chain disruption – has stretched corporate operational wherewithal to its limits, but the highest performing companies continue to deliver results, and even innovate in this contentious environment. In this session, a panel of source-to-pay experts share their insights and best practices for managing supplier relationships to mutually beneficial outcomes, ensuring business stability and continuity, and identifying programs to maximize operational performance. Look for each panelist to reveal emerging S2P trends they see transforming their businesses and segments.
Kwame Johnson, CEO, Big Brothers Big Sisters of Metro Atlanta
Kwame Johnson proudly oversees Big Brothers Big Sisters of Metro Atlanta, the largest youth mentoring agency in Georgia; however, the path from his childhood in New York to the board room was anything but traditional or easy. Join PRGX’s CEO, Ron Stewart, for a candid chat with Kwame, spanning Kwame’s inspirational journey, to his perspective on racial injustice, to his insights on how individuals can have a meaningful impact on diversity and inclusion at work and home.
Tiffani Bova, Global Customer Growth & Innovation Evangelist, Salesforce
PRGXchange Virtual: Salesforce's Growth & Innovation Evangelist and author of Growth IQ: Get Smart About the Choices That Will Make or Break Your Business, Tiffani Bova, travels the world inspiring business leaders to leverage technology and customer analysis to innovate and grow their businesses. Join us as Tiffani shares her personal journey to becoming comfortable with being uncomfortable, and her insights on the value of adopting a growth mindset, both personally and professionally.
PRGXchange Virtual Session: 3 Big Ideas Transforming Source-to-Pay Right Now
As the leader of Accenture’s Supply Chain and Operations Strategy practice for EMEA and Latin America, Pierre-Francois Kaltenbach has spent decades working with clients to implement best practices and innovate in sourcing and operations, particularly in the areas of cost modelling, low cost country sourcing, turn around programs and commodity risk management. Join Pierre to learn how leading companies are not only navigating the pandemic, but are continuing to innovate their sourcing and procurement strategies.
In today’s world, it is more important than ever for companies to prepare for the unknown. Companies are faced with the challenge of navigating financial and operational challenges of coronavirus while ensuring that the needs of their people, customers, and suppliers are met. As our working environment continues to evolve, so does the need for businesses to ensure that data privacy and security is a top priority across their operations. This becomes increasingly challenging with the rapid transition to remote working environments. In addition, compliance with new privacy and security laws across the globe, presents a challenge of its own. This webinar will outline the importance of privacy and security in the source-to-pay cycle, local and international law/regulations impacting recovery audit vendors, and the important security measures that PRGX is taking as we shift to a new preventive approach and real time audits.
Many Shared Services centers had to quickly adapt to a remote environment; however, the swift move to working out of the office has left some teams exposed to potential risks and errors that may not have been uncovered yet. In this webinar, we will discuss challenges shared services centers have faced this year and how these may lead to revenue leakage. Our experts will discuss specific error types and vulnerabilities that can be identified to prevent further leakage while suggesting solutions and recommendations to recover working capital.
Alliston Duncan, Sr Audit Director; Amy Petrosini, VP Business Development
Retail Merchandise Recovery Audit is a great mechanism for uncovering lost profits, but how do you know if you are maximizing the resources and time invested into the program? This webinar will share current retail industry best practices and trends for optimizing your recovery audit program, focused on several key aspects:
Audit Guidelines - new standards for audit program procedures, to ensure efficiency and maximize returns
Audit Timelines - updated approaches to streamline audit timing and turnover schedules, to drive acceleration
Supplier Management - new ways to remove friction with vendors, to improve relationships and collaboration
Audit Expansion - emerging audit concepts, and ideas to expand scope
Vijay Parekh, Senior Director of Delivery, Contract Compliance and Leighton Hammett, Sr. Director, AP
When companies planned for 2020 no one anticipated organizations would have to account for working during a crisis. However, that is where we are now. Organizations had to quickly adapt in order to maintain business continuity with vendor programs that were aligned to goals established prior to the pandemic. Just how have companies made those adjustments and how are those adjustments potentially guiding them as they start to plan for 2021.
In this webinar, PRGX experts will outline lessons this year has taught us about managing vendor relations, how companies are collaborating internally and externally for success, and considerations for managing risk.
Jin Ro, Chief Analytics Officer, PRGX and Mark Irwin, VP - Audit Services, PRGX
Retailers in some regions are faced with establishing Everyday Low Pricing targets and then measuring the effectiveness of the strategy. In order to effectively set these targets and make any needed adjustments, retailers need to be armed with the right information.
In this webinar, attendees will learn how TNC analysis can assist by providing data related to products/categories as well as information to assist in negotiating with suppliers to establish the best pricing and margin targets.
Jon Daniells, Audit Operations, PRGX | Jim Albrecht, Audit Operations, PRGX | Sara Clark, Product Development, PRGX
Contract audit programs can deliver significant value for businesses through a rigorous process of reviewing vendor contracts at risk for value cash leakage. However, most procurement departments lack the bandwidth and expertise to audit vendor contracts, leading to sustained and significant cost leakage over time. This webinar will outline how procurement departments can implement a self-funded contract audit program that returns cash back to the company, provides insights to stop leakage going forward all with minimal impact to in house resources. Attendees will gain an understanding of how a multi-phased program can help procurement departments establish a self-funding mechanism to power a program that returns value through historical cost recoveries and future cost savings.
Jon Daniells, VP Audit Operations, PRGX | Carol Frey, Audit Manager, PRGX
Most audits look to recover cash months and even years after a business has made the payment. However, implementing a proactive auditing strategy can have several benefits which includes preventing overpayments from going out the door. This webinar will outline provide recommendations for how to move from a reactive to a proactive auditing strategy, examples of specific types of audits that will be best in this strategy and the additional benefits that can be gained by having data readily available for auditing purposes.
Richard Jackson, Audit Director, PRGX / Nick Williams, Director of Operations, UK Retail, PRGX
The obvious benefit of any recovery audit is it yields significant cash to a company’s bottom line, but there is valuable information that can sometimes be overlooked which could yield a greater return on investment. In this webinar, PRGX experts delve into how a recovery audit can add value through the root cause analysis to help retailers understand why profit is leaked, how best to utilize this information and ensure its true power is unlocked within your organization. Attendees will learn more about the types recommendations they should expect to see in a recovery audit analysis report and come away from the webinar with more understanding on how the root cause analysis can be used avoid future leakage at source by driving a retailer from reactive to a preventive organization.
John Heighway, PRGX | Vijay Parekh, PRGX | Bal Mattu, PRGX
It’s no secret one of the primary goals in today’s business landscape is to maximise working capital and obtain cash on hand. By implementing a self-funding audit program businesses can leverage data, often resulting in risk mitigation and cost reduction bringing value back to their bottom line. However, common challenges continue to persist in both finance and procurement functions including misaligned objectives, budget limitations and difficulties with cross-departmental buy-in.
This webinar outlines the roadmap to working capital acceleration using synergies across the source-to-pay cycle, exploring the fastest path to value for businesses given the current economic climate while also providing recommendations for mid-term cost savings planning. Attendees will be introduced to an approach to maximise ROI by using the PRGX three pillar approach; recovery audit and root cause analysis, payment terms and days payables outstanding (DPO) optimisation along with contract compliance recovery and prevention.
Angie Holsen, Sr. Director, Client Relationships, PRGX and Ashley King, Regional Vice President - Business Development, PRGX
Has 2020 shifted your AP priorities and how you are working?
As we enter the second half of this year, many businesses have had to re-evaluate their plans and are missing targets they originally set for this year.
In this webinar PRGX experts, Angie Holsen and Ashley King, will share insights on how companies have adjusted and can leverage Recovery Audit strategies to increase value.
Attendees will quickly understand how other companies have pivoted to take workforces remote, establish strong business continuity plans and develop new processes. Learn how these companies are ensuring they can add value to their business in H2.
Retailers are being truly challenged in 2020. Even if overall sales have gone up for some sectors, such as grocery, the traditional complexities of tracking the success of rebates, promotions and sales on top of the COVID-19 global pandemic challenges make it hard for retailers to know which promotions, categories or vendors are profitable. This webinar will look at how increased sales can mask other problems for retailers and how to identify weak promotional areas and inefficiencies that can be addressed to maximize overall margin improvement. Attendees will also understand some of the data science techniques used to investigate the funding and costs of categories to narrow down the highest performing vendor promotions.
The sale and activation of mobile phones through retailers is not likely to disappear anytime soon. As a result of new connectivity technologies, such as 5G fixed wireless and satellite internet, there will be new networks to partner with. However, due to multiple systems, complex transactions and a manual intervention requirements, many large retailers often miss the opportunity to recover commissions owed to you for activating phones on wireless networks. This webinar will outline the trending usage of mobile phones and why now is an opportune moment for retailers to conduct an activation audit. Attendees will learn more about how activation audits can deliver a short-term cash return, while remediating process improvements for future contract negotiations with existing and new market competitors before new mobile phone technology is adopted.
Mark Kilgore, Global Client Development, PRGX / Amy Andrade, Regional VP, PRGX / Brad Royer, Regional VP, PRGX
Helping retailers prevent errors in an increasingly complex industry.
Recovery Audit has historically been a reliable stopgap for retailers to ensure any leakage is eventually captured. But in today’s retail environment, it is even more critical to ensure processes and systems are correct upfront. This webinar will outline how retailers will benefit from an industry transformation to move from a contingency fee-oriented recovery audit to a prepayment and error prevention solution. The webinar will also outline the value of error prevention and typical error prevention strategies before examining the preventive audit approach and solution.
Aggregating, cleaning and classifying spend data from multiple decentralized systems can be challenging without the right resources. However, once you have gone through the rigorous process of creating a single source of data truth you can begin to interpret the patterns and anomalies that will visualize your revenue leakage. This webinar will outline how organizations can utilize the combination of recovery audit data to gain improved visibility into their spend. Attendees will learn about the benefits of utilizing your recovery audit data for spend visibility, how to identify leakage points from non-compliance and typical real-time reports you should expect to run.
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 nearly 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.