Globe Newswire 14-Jun-2018 4:57 PM
ATLANTA, June 14, 2018 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (NASDAQ:PRGX), a global leader in Recovery Audit and Spend Analytics services, today announced that the company has expanded its Adjacent Services business with three customer wins powered by the PRGX OPTIX® SaaS suite.
The PRGX OPTIX suite is a set of scalable analytics tools that provide clients actionable insights on their source-to-pay business processes. PRGX OPTIX runs on PRGX's proprietary big data processing infrastructure and can rapidly analyze millions of rows of data, allowing clients to identify and address areas of spend leakage.
"We have strategically invested in the development and expansion of our PRGX OPTIX SaaS platform to create even greater value for our clients," said Ron Stewart, President and CEO of PRGX. "We're very pleased to see the positive response from our clients who are embracing our OPTIX suite and advisory services to leverage our deep experience and expertise in source-to-pay spend analytics."
First, PRGX has won a significant M&A synergy engagement for a leading retailer. M&A synergy engagements are a core offering of the PRGX Advisory and Analytics practice. PRGX is advising this client on post-merger synergy realization leveraging the PRGX Product OPTIXTM module to efficiently analyze over 35 million product SKUs.
PRGX also has two additional recent wins in the United Kingdom, where the PRGX Payment OPTIXTM module is being deployed to support compliance with the Duty to Report on Payment Practices and Performance legislation. The legislation requires companies to publish certain information about their payment practices on a digital platform provided by the U.K. government. The clients, both members of the Fortune Global 500, are using PRGX Payment OPTIX to efficiently process, cleanse and clarify their ERP data to provide an accurate view on their U.K. payment performance.
For more information about PRGX and the PRGX OPTIX suite visit https://www.prgx.com/.
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
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 Company's overall condition and growth prospects, the Company's execution of its business strategy, and the value provided to the Company's clients. 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. The Company disclaims any obligation or duty to update or modify these forward-looking statements.
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