At-A-Glance: Unifying Diverse Data Across $400B Spend
Disconnected data systems create major challenges for financial and procurement departments as they try to view a complete financial picture. This national grocery retailer needed to consolidate their financial data after multiple acquisitions and an ERP transition to make informed decisions about working capital and supplier management. They chose PRGX to implement a comprehensive one-stop-shop Days Payable Outstanding (DPO) dashboard that could provide a clear view of working capital as well as spend categorization down to the item level.
$400B
Spend Analyzed
40K+
Number of Suppliers
7
Number of Users/FTEs
Challenge: Managing Complex Financial Data After Multiple Acquisitions
The large national grocery retailer was faced with complex, disparate systems after numerous acquisitions and an Oracle ERP transition. Key challenges included limited visibility into payment timing across acquired businesses, complex supplier landscape with both direct and indirect spend, and difficulty accessing consolidated data for period close reporting. This made it difficult to to identify working capital opportunities and optimize financial health.
Solution: Increasing Payment Visibility Evolved to Enhancing Working Capital Management and On-going Intelligent Audits
Initially, PRGX worked with the retailer to deliver more visibility into potential early payments with their indirect suppliers, but evolved into a one-stop-shop DPO dashboard. Spend & Payment Insight™ technology supports savings initiatives and finds hidden values in transactional payment data – opening new doors to value. In this case it led to a comprehensive dashboard used regularly by seven full-time equivalents (FTEs) and it provides quick access to reporting for the period close. The dashboard houses both direct and indirect spend categorization with payment terms at the category, supplier, and item level.
The implementation integrated data from over 40K suppliers and analyzed $400B in spend across 4 years, establishing unified payment terms visibility. The solution included working capital optimization through trend analysis tools, while deploying ongoing recovery audit processes and deduction management technology. With PRGX AP Profit Recovery Services, we focus on finding and sharing source-to-pay value, connecting present and future opportunities for maximum impact.
Ready to Have a 360° View of Your Working Capital?
PRGX can help your organization have 360º visibility and whole business impact with Source to Pay (S2P) insights that drive key financial decisions for the organization. Just in the past year, PRGX has analyzed $2.3T client spend with $2.3B client revenue across industries and services, yielding 10x average ROI.
Connect with PRGX to learn how our technology-driven solutions can help optimize your working capital management and provide comprehensive spend visibility. Chat with our team of experts about your goals or watch a demo to see our solutions in action.
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