ATLANTA, Feb. 8, 2010 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq:PRGX), the world's leader in recovery auditing and a pioneer in a new category of services called profit discovery, today announced that it has entered into a strategic alliance with Advocate Networks, LLC to provide clients with leading telecommunications expense audit and profit recovery capabilities.
Advocate Networks provides a broad range of telecommunications consulting and expense management services, and its audit practice is focused on identifying and recovering a wide variety of rate, billing, and utilization errors.
"We are excited by the opportunity to work with Advocate Networks," said Romil Bahl, president and chief executive officer of PRGX. "Their resources and capabilities are well positioned to help clients gain more value from their telecommunications spend, an area which continues to grow both in cost and complexity."
"With PRGX's global leadership in profit discovery and Advocate Networks' recognized expertise in telecommunications, we believe our combined efforts will create outstanding results for our clients," said Scott Fogle, co-president and co-founder of Advocate Networks.
About PRGX Global, Inc.
Headquartered in Atlanta, Georgia, PRGX Global, Inc. is pioneering "profit discovery," the combination of audit, analytics and advisory services to improve client financial performance. PRGX remains the world's leader in recovery auditing. It serves a majority of the top 50 global retailers and many other leading companies, and is active in an expanding range of markets, including healthcare. Until January 2010, PRGX was known as PRG-Schultz International, Inc.
For more information please visit www.prgx.com.
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About Advocate Networks, LLC
Advocate Networks is a management consulting company focused on communications and data center services and infrastructure, and offers a full suite of managed TEM services. The company provides managerial, strategic, technical, operational and financial expertise in voice, data, video, wireless communications and data center services. Founded in 2001, privately held Advocate Networks is based in Atlanta, Georgia. Additional information can be found at www.advocatenetworks.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 opportunities and expected benefits related to the company's new service offerings. 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 revenues not meeting expectations or justifying costs incurred, the level of acceptance of the strategic alliance with Advocate Networks not meeting the company's expectations, competition being greater than anticipated, the company's ability to develop material sources of new revenue in addition to revenues from its core accounts payable recovery audit services, changes in the market for the company's services, the company's ability to retain existing personnel, potential legislative and regulatory changes applicable to the Medicare recovery audit contractor program and other aspects of the company's business, uncertainty in the credit markets, 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, 2009. The company disclaims any obligation or duty to update or modify these forward-looking statements.