ATLANTA, Oct. 18, 2011 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq:PRGX), a business analytics and information services firm, announced today the launch of PRGX SpendTraxTM version 3. This new version of PRGX's core spend analytics tool significantly enhances PRGX's Spend Optimization suite of services with features and functionalities that allow both private and public sector organizations to rapidly gain visibility into their spend, accurately monitor their spend, identify spending trends and patterns, manage vendor and spend compliance, and identify opportunities to capture savings.
"PRGX SpendTrax is one of our key tools for driving insights from 'big data analytics' leveraging our clients' accounts payable and contracting data," said Romil Bahl, PRGX president and CEO. "Spend Optimization services are a natural adjacency to our core recovery audit services, given that we already have insights into our clients' spend. Importantly, we have a unique differentiated approach in this significant and growing market – we are not pure consultants and are not a software company. By combining PRGX SpendTrax with the category and sourcing expertise from our procurement advisory capabilities, PRGX brings rapid, real and measurable value to clients."
As an intuitive and easy to use software-as-a-service, or "SaaS" application, the new version of PRGX SpendTrax provides a holistic overview of a company's spend. Spend visibility is provided through enhanced graphical views, savings opportunities are pinpointed with the new "Opportunity Analysis" dashboard, compliance is tracked using the innovative "Spend Under Management" functionality, and risk across procurement and payables is monitored through the advanced reporting functionality. In short, PRGX SpendTrax equips procurement teams with a road map for significant value generation through better buying, compliance and process improvement.
Sajid Ghani, Global Managing Director of PRGX Business Analytics, said, "This latest version of PRGX SpendTrax is a giant leap forward in empowering clients with new insights and savings opportunities. We have listened to our clients to understand the needs of procurement teams and have incorporated what we learned into an enhanced version of our established data analytics product. This updated tool strengthens all three key stages of our service – the aggregation of client data, appropriate classification of that data through data mining and the generation of a visual representation of where savings can be found."
About PRGX Global, Inc.
Headquartered in Atlanta, Georgia, PRGX Global, Inc. is the world's leading provider of recovery audit services. With more than 1,400 employees, the company operates and serves clients in more than 30 countries and provides its services to over 75% of the top 30 global retailers. PRGX is also pioneering Profit Discovery™, a unique combination of audit, analytics and advisory services that improves client financial performance. Beyond its core retail practice, PRGX is actively expanding into services to the healthcare industry.
Further details can be found at www.prgx.com