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Limiting Risk in AP During a Crisis

If eight weeks ago anyone had said we would all drop everything and that about 90% of office operations would start working from home you would have never believed them. However, many businesses are now adapting to the fine balance of mitigating risk and growing revenue in an situation that most likely had not planned for. So what are companies doing to limit risk in this quick shift to our new normal? In this webinar, attendees will learn more about what other businesses are doing to protect their companies from loss. This webinar will also address questions around how organizations can drive your recovery during and after COVID-19, including managing governance reviews, re-establishing processes that may have had temporary fixes and tips for projects under-utilized staff could pick-up immediately. Finally, our experts will also discuss options for profit recovery in 2020 and finding the right balance to negotiating terms with impacted suppliers.
Recorded May 14 2020 21 mins
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Presented by
Angie Holsen, Sr Director Client Relations, PRGX
Presentation preview: Limiting Risk in AP During a Crisis

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  • Reinventing Recovery Audit for Today’s Retail Environment Recorded: Jun 11 2020 27 mins
    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.
  • How Spend Analytics Complement a Recovery Audit Recorded: Jun 4 2020 56 mins
    Jin Ro, VP Advanced Analytics, PRGX
    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.
  • 3 Ways to Minimize Abrasion with Retail Vendors Recorded: Jun 2 2020 20 mins
    Scott Brown, Regional VP, PRGX / Patrick Miller, Senior Audit Director, PRGX
    The Retailer and Vendor relationship is built on on-going communications to order, receive, promote and pay for goods and services. Inevitably, throughout the process, errors occur that lead to friction. However, the best-in-class retailers are putting tools and processes in place minimize abrasion and strengthen partnerships with their vendor community. This webinar will identify common points of friction between retailers and vendors and discuss 3 key areas of focus to minimize abrasion and ultimately improve the relationship.
  • Limiting Risk in AP During a Crisis Recorded: May 14 2020 21 mins
    Angie Holsen, Sr Director Client Relations, PRGX
    If eight weeks ago anyone had said we would all drop everything and that about 90% of office operations would start working from home you would have never believed them. However, many businesses are now adapting to the fine balance of mitigating risk and growing revenue in an situation that most likely had not planned for. So what are companies doing to limit risk in this quick shift to our new normal? In this webinar, attendees will learn more about what other businesses are doing to protect their companies from loss. This webinar will also address questions around how organizations can drive your recovery during and after COVID-19, including managing governance reviews, re-establishing processes that may have had temporary fixes and tips for projects under-utilized staff could pick-up immediately. Finally, our experts will also discuss options for profit recovery in 2020 and finding the right balance to negotiating terms with impacted suppliers.
  • The Hidden Benefits of Profit Recovery Recorded: May 12 2020 37 mins
    Pete Battista, VP Business Development, PRGX / Zach Braford, Dr Product Management, PRGX
    How to Yield Cash, Recover Profits and Boost Your Bottom Line.

    In organization's today, senior finance executives face an ongoing and considerable task – root out the cause of financial leakage and bring value back to their organization’s bottom line. A proven way to deliver this value is through implementing an Accounts Payable Recovery Audit program. An essential tool for profit recovery and to increase working capital, audits not only yield cash they provide insights and analysis to avoid future issues and leakage before they occur. In addition to being a business best practice, some of the key benefits realized through an audit are ongoing process improvements, organizational team alignment and cash recoveries. Important to note for finance leaders and accounts payable managers alike - leaks will occur regardless of the organization’s size, complexity or those with even the most formalized processes.

    In this webinar, PRGX field and product experts Pete Battista and Zach Braford discuss why Accounts Payables Recovery Audits are vital to boost your bottom line, ways to overcome common challenges, the optimal time to audit and key steps for organization’s to take when implementing an audit strategy to achieve continued success.
  • How Data and Technology are Transforming Recovery Audit Recorded: May 6 2020 44 mins
    Greg Cory, Chief Product Officer | Amir Karuppaiah, Chief Technology Officer | Jin Ro, VP Advanced Analytics
    The one thing that is consistent about recovery audits is that they are a best practice for any organization managing their cash. However, what has changed in the last 50 years is the way audits are conducted, the speed at which the data can be consumed and the analytical insight that can be gained to support a business’s priorities. This webinar will provide an overview of how data and technology are transforming recovery audits and the impact this has on the Source-to-Pay (S2P) process by improving the speed, thoroughness and effectiveness of audits. As well as the additional value generation possible from the breadth & depth of the audit data & platform. Viewers will learn about the additional value generation from the breadth and depth of the audit data and a look into the technology being used to shift the audit process from recovery to preventative, including machine learning and artificial intelligence.
  • The Top 5 Ways to Prevent Overpayments Recorded: Apr 7 2020 43 mins
    Lisa Marley, Audit Manager, PRGX
    In this webinar, Recovery Audit expert Lisa Marley reveals five common occurrences when it comes to overpayments and solutions to combat them.
  • 5 Key Components of Managing Supplier Contracts Recorded: Apr 2 2020 32 mins
    Vijay Parekh, Senior Director of Delivery, Contract Compliance
    5 Key Components of Managing Supplier Contracts

    Procuring materials and indirect services involves ever-greater complexities in the global supply chain and risks that can impact profits. Organizations devote significant time and effort to negotiating complex supplier contracts, however; once contracts are in place, often customers assume they’re getting the value that they were promised. Through the forensic audit of a contract and examples of a good audits right clause, the importance and often under-estimated revenue benefits of a contract compliance program will be outlined.

    In this webinar, attendees will learn 5 tips for best practices when renegotiating supplier contracts:

    1.Get the language right
    2.Make sure both parties understand and acknowledge the commercial terms
    3.Accountability and responsibility
    4.Strong Governance
    5.Relationships are important
  • Contract Audit: The Power of Prevention Recorded: Apr 1 2020 52 mins
    Jon Daniells, VP Audit Operations | Sara Clark, Director Product Development
    Scheduled to be presented at ProcureCon Indirect East, ProcureCon Indirect Europe and the Americas Procurement Congress, in this webinar, PRGX contract audit experts Jon Daniells and Sara Clark will recommend strategies for enhancing the value of your organization’s supplier audit program, while outlining the steps to help you recover lost profits sooner. Key takeaways from this webinar include:

    - Pathway to prevention: Learn the broad spectrum of where overpayment problems originate and how best to identify and fix the root causes

    - Supercharging your results: How evolving the maturity of your contract audit program will exponentially expand value to your company

    - From reactive to proactive: Key steps to building a program which identifies issues quicker, leading to immediate and sustained cost savings

    Traditionally, supplier contract audits have principally focused on finding past billings errors and working to recover those overbillings. However, as organizations gain a more sophisticated appreciation for the deep intelligence gained through contract audits, they are now demanding new strategies that are designed to locate errors sooner and prevent the same mistakes from being repeated. Historical recoveries, while still a desired outcome where they exist, are seen as a byproduct of the central objective, fixing problems that return even more significant value through recurring future cost savings.
  • How Technology Will Impact Your Contract Compliance Program Recorded: Mar 31 2020 32 mins
    Sara Clark, Director Product Development | Bob Donohue, Contract Audit Expert
    The ability to manage supplier contracts has been enhanced with technology advances, but to be fully effective requires strategic planning to align technology with vendor selection for auditing within a contract compliance program. In this webinar, Bob Donohue and Sara Clark will outline how technology has changed the contract compliance landscape, what decisions procurement leaders will need to make when prioritizing their contract audits, and how artificial intelligence is being utilized to identify systemic issues.
  • Working Capital: Three strategies to free up cash and manage suppliers Recorded: Mar 18 2020 29 mins
    Jin Ro, VP of Analytics & Strategy
    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.
  • The Proactive Grocer: Keys to Preventing Losses Recorded: Feb 6 2020 29 mins
    Mark Kilgore, Global Client Development, PRGX
    The grocery industry is by far one of the most demanding – constant change, new technologies to learn and complex promotions lead to inevitable mistakes and things slipping through the cracks.

    In this webinar, you’ll discover how to identify common points of leakage before they occur, the top trends in the industry and how you can use them to set your business ahead of the curve, and how to move from a reactive approach to a preventative approach as a proactive grocer.
  • A Playbook of Success for Recovery Audit Recorded: Nov 20 2019 23 mins
    Zach Braford, Director of Product Management, PRGX
    In this webinar, "A Playbook of Success for Recovery Audit," you'll discover four ways to get the most out of your Recovery Audit. Industry expert and Director of Product Development at PRGX, Zach Braford, outlines real-life winning strategies used for our clients.

    In this webinar, we explore:

    1. How to extract more benefits by engaging in detailed audits
    2. How to increase the value of your audit by increasing the scope
    3. How to manage an audit in a global company
    4. Defining a playbook of success for your company
  • The Top 5 Ways to Prevent Overpayments Recorded: Oct 10 2019 44 mins
    Lisa Marley, Audit Manager, PRGX
    In this webinar, Recovery Audit expert Lisa Marley reveals five common occurrences when it comes to overpayments and solutions to combat them.
  • Why Your Source-to-Pay-Process Loses Money Recorded: Jul 18 2019 57 mins
    Josh Morrison, Solutions Specialist, Business Development, US
    Many challenges exist throughout the Source-to-Pay (S2P) cycle. Companies are constantly challenged to find new efficiencies, identify leakage points to capture savings, and strategize around new profit-driving and growth opportunities.

    In this webinar, you will hear about the real keys to successfully managing your S2P processes, and the strategies and techniques that can be used by any organization to increase efficiency and effectiveness.

    In this webinar, our Global Director of Solution Consulting, Josh Morrison and Former CPO of UPS, Gary Kallenbach speak on how the best companies in the world optimize their S2P process.
  • Contract Compliance: An Untapped Opportunity Recorded: Jun 6 2019 39 mins
    Shveta Agarwal, Contract Compliance Senior Audit Manager, US | Rob Brown, Director Supplier Services, The Coca-Cola Company
    Procuring materials and indirect services involves ever-greater complexities in the global supply chain and risks that can impact profits. Organizations devote significant time and effort to negotiating complex supplier contracts, however; once contracts are in place, often customers assume they’re getting the value that they were promised. A disciplined approach to contract compliance testing extracts the greatest business insights and helps recover lost profits.

    In the next installment of PRGX’s Retail Webinar Series, learn how PRGX’s Contract Compliance program applies unmatched data mining technologies and specialized global resources to conduct supplier audits and maximize the return on your hard-fought supplier contracts.

    Listeners will come away with the understanding of how a comprehensive Contract Compliance audit program can:

    - Be considered a best practice in supplier governance among best-in-class organizations
    - Identify and recover negotiated savings in strategic supplier contracts
    - Provide actionable opportunities for business insights and future cost avoidance
  • Next Generation Recovery Audit: Preventative Validation Recorded: Mar 26 2019 56 mins
    David Brown, Global Audit Strategy, US | Brad Royer, Grocery Center of Excellence, US | Tom Flynn, Supplier Solutions, US
    Recovery Audit is ready for a paradigm shift.

    Through the combination of tested audit logic, advanced technology and accurate and timely data flows the new wave of Preventative Validation is already here.
See What You've Been Missing TM
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.

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  • Title: Limiting Risk in AP During a Crisis
  • Live at: May 14 2020 5:00 pm
  • Presented by: Angie Holsen, Sr Director Client Relations, PRGX
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