PRGX Announces Lavante® SIM 7.0
November 07 2017 - 10:38AM
PRGX Global, Inc. (Nasdaq:PRGX), a global leader in Recovery Audit
and Spend Analytics services, today announced Lavante SIM 7.0, a
major expansion of PRGX’s Lavante Supplier Information Management
(SIM) solution suite. This release, developed with direct
input from several major PRGX clients, will be available in early
December and enable clients to quickly enhance, automate and
simplify their supplier deduction management process, as well as
the ability to receive and resolve many other inbound supplier
claims, disputes and inquiries.
With the latest release of its Lavante SIM
solution, PRGX is bringing to market the definitive product for
addressing a common problem plaguing large enterprises across the
globe - the massive volume of inbound supplier communications and
the subsequent resource drain and cost of receiving, researching,
routing and resolving the inbound queries.
“The Deduction Management capability of the new
release marks a critical shift in the market for highly targeted
spend analytics and supplier management solutions,” said Jason
Busch, Lead Analyst and Founder of Spend Matters and Azul Partners.
“PRGX has leveraged its deep analytics domain expertise on top of
its supplier management platform to create one of the highest and
most tangible ROI use cases for targeted solutions in these areas
we have seen.”
Lavante SIM 7.0 enables clients to configure a
predictable, uniform and scalable process for suppliers to research
supporting detail for potential payment disputes or deductions
prior to initiating a question, comment or dispute. The
cloud-based solution enables uniform treatment of all suppliers
around the globe and gives client end users a single point of
control and visibility that, in addition to reducing the number of
inbound supplier queries, will also reduce the overall effort
required to manage the communication and resolution
processes. The new release, which supports Deduction
Management, Invoice Visibility, General Help Desk and much more, is
expected to substantially reduce erroneous repayments, supplier
management costs and resource requirements.
“We want new releases of our solutions to solve
industry pain points. The most direct way to do this is to
work closely with clients and address their largest problems,” said
Tushar Sachdev, CIO at PRGX. “Lavante SIM 7.0 addresses a huge
problem for most, if not all, of our over 300 global clients that
likely costs many of these companies millions of dollars in
operational costs and unnecessary repayments back to
suppliers.”
In addition to enhanced supplier functionality,
Lavante SIM 7.0 also delivers a significant improvement in client
workflow and reporting. All inbound supplier queries can be
routed to specified parties throughout the client organization to
ensure speedy resolution. Inbound queries are tracked at the
point of input and throughout the resolution process against a
complex set of attributes to drive a robust reporting suite and
deliver in-depth root cause analysis to help prevent improper
deduction and unnecessary repayments back to suppliers.
About PRGX
PRGX Global, Inc. is a global leader in
Recovery Audit and Spend Analytics services. With over 1,500
employees, the Company serves clients in more than 30 countries and
provides its services to 75% of the top 20 global retailers and
over 30% of the top 50 companies in the Fortune 500. PRGX delivers
more than $1 billion in cash flow improvement for its clients each
year. The creator of the recovery audit industry more than 40 years
ago, PRGX continues to innovate through technology and expanded
service offerings. In addition to Recovery Audit, the Company
provides Contract Compliance, Spend Analytics and Supplier
Information Management services to improve clients’ financial
performance and manage risk. For additional information on PRGX,
please visit www.prgx.com
Forward-Looking Statements
In addition to historical information, this press
release includes certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements include both implied and express statements
regarding the strength and benefits of the Lavante SIM 7.0 release,
the Company’s overall condition and growth prospects, the Company’s
execution of its transformation strategy, the Company’s investments
in, and opportunities associated with, its growth platforms,
including its supplier information management services business.
Such forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of the Company to differ materially from the
historical results or from any results expressed or implied by such
forward-looking statements. Risks that could affect the Company’s
future performance include revenue that does not meet expectations
or justify costs incurred, the Company’s ability to develop
material sources of new revenue in addition to revenue from its
core recovery audit services, changes in the market for the
Company’s services, the Company’s ability to retain and attract
qualified personnel, the Company’s ability to integrate recent and
future acquisitions, uncertainty in the credit markets, the
Company’s ability to maintain compliance with its financial
covenants, client bankruptcies, loss of major clients, and other
risks generally applicable to the Company’s business. For a
discussion of other risk factors that may impact the Company’s
business, please see the Company’s filings with the Securities
and Exchange Commission, including its Form 10-K filed on March 16,
2017. The Company disclaims any obligation or duty to update or
modify these forward-looking statements.
Contact: Michele Mahon (770) 779-3212
michele.mahon@prgx.com
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