PRG-Schultz (NASDAQ: PRGX) and the Institute of Customer
Relationship Management (iCRM) have announced the release of the Best
Practices in Post-Audit Recovery report. This study, administered by
noted academics and researchers over an 18 month period, was based on
extensive collaboration, exploratory discussions and descriptive
research obtained from functional managers at leading U.S. retail and
manufacturing companies representing nearly $1 trillion in combined
revenues.
With the involvement of 161 executives at 24 retail, 37 vendor and 5 post-audit companies, the research identified mutually beneficial best practices and provides a foundation for developing industry standards in post-audit recovery.
"We consider this an industry first," said Dr. Atul Parvatiyar, Best Practices Research Project Leader and President and CEO of iCRM. "This research has produced actionable insights that provide a road map for enhancing transaction assurance, making the process more productive and less costly for all involved."
The main purpose of the study was to research and highlight those practices in post-auditing that increase efficiencies, enhance effectiveness, build trust, eliminate unnecessary costs, and strengthen relationships among retailers, their vendors, and post-auditors.
To achieve this goal, the research team devised and implemented a methodology that captured the prevalence of various post-audit practices among vendors, retailers and post-audit companies, with perspectives taken across multiple functions and levels.
"We will continue to innovate with our clients and their vendors to leverage these research results," said James L. Benjamin, Executive Vice President U.S. Operations, PRG-Schultz. "As the industry leader, we are committed to continuing this Forum, which brings retailers and their manufacturing partners together to collaborate on recovery auditing practices and transaction assurance."
iCRM is currently distributing copies of the executive summary to all persons who participated in the post-audit survey. Copies of the complete Best Practices in Post-Audit Recovery report and the stand-alone Executive Summary can be purchased from iCRM.
About PRG-Schultz International, Inc.
Headquartered in Atlanta, GA, PRG-Schultz International, Inc. (PRG) is the world's largest post-audit recovery firm, providing clients throughout the world with insightful value to optimize and expertly manage their business transactions. Using proprietary software and expert audit methodologies, PRG industry specialists review client purchases and payment information to identify and recover overpayments.
About Institute for Customer Relationship Management, Inc. (iCRM)
The Institute for Customer Relationship Management, Inc. (iCRM), based in Atlanta, Georgia, is focused on advancing the knowledge and practice of customer relationship management. It engages in best practice research, consulting, training, business process outsourcing and software solutions for marketing analysis and customer relationship strategies. With offices and knowledge centers in Austria, India, Malaysia, UK and USA, iCRM is committed to helping organizations become more productive and profitable through effective and efficient CRM strategies, programs, processes and tools.
With the involvement of 161 executives at 24 retail, 37 vendor and 5 post-audit companies, the research identified mutually beneficial best practices and provides a foundation for developing industry standards in post-audit recovery.
"We consider this an industry first," said Dr. Atul Parvatiyar, Best Practices Research Project Leader and President and CEO of iCRM. "This research has produced actionable insights that provide a road map for enhancing transaction assurance, making the process more productive and less costly for all involved."
The main purpose of the study was to research and highlight those practices in post-auditing that increase efficiencies, enhance effectiveness, build trust, eliminate unnecessary costs, and strengthen relationships among retailers, their vendors, and post-auditors.
To achieve this goal, the research team devised and implemented a methodology that captured the prevalence of various post-audit practices among vendors, retailers and post-audit companies, with perspectives taken across multiple functions and levels.
"We will continue to innovate with our clients and their vendors to leverage these research results," said James L. Benjamin, Executive Vice President U.S. Operations, PRG-Schultz. "As the industry leader, we are committed to continuing this Forum, which brings retailers and their manufacturing partners together to collaborate on recovery auditing practices and transaction assurance."
iCRM is currently distributing copies of the executive summary to all persons who participated in the post-audit survey. Copies of the complete Best Practices in Post-Audit Recovery report and the stand-alone Executive Summary can be purchased from iCRM.
About PRG-Schultz International, Inc.
Headquartered in Atlanta, GA, PRG-Schultz International, Inc. (PRG) is the world's largest post-audit recovery firm, providing clients throughout the world with insightful value to optimize and expertly manage their business transactions. Using proprietary software and expert audit methodologies, PRG industry specialists review client purchases and payment information to identify and recover overpayments.
About Institute for Customer Relationship Management, Inc. (iCRM)
The Institute for Customer Relationship Management, Inc. (iCRM), based in Atlanta, Georgia, is focused on advancing the knowledge and practice of customer relationship management. It engages in best practice research, consulting, training, business process outsourcing and software solutions for marketing analysis and customer relationship strategies. With offices and knowledge centers in Austria, India, Malaysia, UK and USA, iCRM is committed to helping organizations become more productive and profitable through effective and efficient CRM strategies, programs, processes and tools.