PUNE, India, March 5, 2014 (GLOBE NEWSWIRE) -- PRGX Global, Inc. (Nasdaq:PRGX), the world's leading provider of recovery audit services and the pioneer in Profit Discovery™, today shared its plans for the continued expansion of its India operations at a press meeting in Pune, India.
PRGX India provides recovery audit, analytics and information technology services to PRGX's global operations. Its Pune office was formally inaugurated in July 2010. PRGX's Indian operation also acts as an incubator for innovations in service delivery that benefit the Company's client teams around the world.
"PRGX has an unrivaled global footprint in the recovery audit industry and is well positioned to serve an increasingly global set of markets and clients. Our Pune operations represent an important component of our global service delivery capabilities," said Ron Stewart, PRGX president and CEO.
"The establishment of PRGX India has also helped educate Indian retailers on the benefits of recovery audit services," added Tushar Sachdev, CIO and SVP of shared services of PRGX.
Although a routine practice in the United States and Europe, recovery audit is not as common in India, but given the high transaction volumes and complexities inherent in retailers' procure-to-pay operations, Indian retailers have the same opportunities to recover profits from overpayments to vendors as do retailers in other parts of the world.
Mr. Stewart continued, "Our India operations have grown rapidly over the past three years, with now close to 300 employees. PRGX hopes to continue to attract top Indian talent as we expect to expand and grow the Pune center over the coming years."
"The talent requirement for PRGX India is aligned with PRGX's core business needs. The workforce will consist of experienced accounting graduates, experienced IT professionals, and analysts," concluded Mr. Sachdev.
Headquartered in Atlanta, Georgia, PRGX Global, Inc. (Nasdaq:PRGX) is the world's leading provider of recovery audit services. With over 1,600 employees, the Company operates and serves clients in more than 30 countries and provides its services to over 75% of the top 20 global retailers. PRGX is also pioneering Profit Discovery, a unique combination of audit, analytics and advisory services that improves client financial performance.
For additional information, please visit PRGX at www.prgx.com
Alexandra Gobbi, VP marketing & communications
600 Galleria Parkway
Atlanta GA 30339
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 financial condition, growth strategy, service offerings, and the expected benefits and growth of its India operations. 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, changes to Medicare and Medicaid recovery audit contractor programs, 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, including its Form 10-K filed on March 13, 2013. The Company disclaims any obligation or duty to update or modify these forward-looking statements.