At-A-Glance: Transforming Operations with a Profit Recovery Audit during ERP Transition
Retailers face unique challenges in maintaining payment accuracy and process efficiency, particularly during system transitions. With rapidly changing inventory, complex supplier relationships, and evolving systems, maintaining optimal financial controls becomes critical. This fashion retailer chose PRGX during a crucial ERP system transition period to not only recover profit but also strengthen their underlying processes for long-term success.
$6.8B
Amount of Spend Reviewed
$2.9M+
Recovery Savings Most Recent Audit
0.4%
Error Rate to Spend Reviewed
Challenge: Identifying Savings Opportunities with Profit Recovery Audit
The fashion retailer was managing operations across two Enterprise Resource Planning (ERP) systems during a transitional period. With $6.8B in spend over four years and a 90-day rolling audit period, they needed to maintain accurate financial controls while identifying opportunities for process improvement. The complexity of managing retail operations across dual systems created unique challenges in maintaining payment accuracy and process efficiency.
Solution: Comprehensive Recovery Audit Expanded to Contract Management Services
A thorough PRGX Retail Merchandise Profit Recovery audit revealed several critical process improvement opportunities:
- Purchase Order Agreement (POA) process enhancement
- PO workflow optimization
- Returns procedures and processing
- Vendor master data management to prevent inaccuracies
Building on these findings, PRGX implemented a comprehensive solution that included:
- Advanced contract compliance audits
- Vendor master data cleansing and enrichment
- Systematic root cause analysis
- Ongoing best practice review and implementation
Go Beyond Recovery with Strategic Process Improvement
While achieving a remarkable 0.4% error rate recovery against reviewed spend, this engagement demonstrated how recovery audits can drive lasting operational improvements. Let our experts help you uncover opportunities across your retail operations with PRGX Retail Merchandise Profit Recovery services. Our proven methodology not only recovers lost spend but also strengthens underlying processes to prevent future leakage.
From AP Profit recovery to Contract Management, PRGX combines technology-driven solutions and decades of expertise to help you improve the financial health of your organization. Chat with our team of experts about your goals and or watch a demo to see our solutions in action.
