PRGX expects India operation to double in size by 2013
02/03/2012

• The company plans to expand its capabilities in India to serve a growing number of global, as well as local India-based, clients

Online PR News – 03-February-2012 – – • The company’s India-based team has played a key role in streamlining and standardising some of their core recovery audit processes
PRGX Global, Inc.(Nasdaq: PRGX),the world's leading provider of recovery audit services and the pioneer in Profit DiscoveryTM, announced today in a press conference at Pune that the company plans to continue its investments in India.
Based on continued strong demand for PRGX’s Profit Discovery services and on the successful migration of select audit, business analytics, information technology and other support services to the Pune-based center, PRGX expects that its India-based headcount will double by the end of 2013.
PRGX currently employs 140 professionals in India. This includes application developers, auditors, help-desk staff and sales support resources.
“Our India-based team has played a key role in streamlining and standardising some of our core recovery audit processes,” said Romil Bahl, PRGX president and CEO. “Clients we serve through a combination of on-shore and off-shore resources have seen impressive productivity increases, either through expedited recoveries or through the identification of new claim concepts”.
Going forward, the company plans to expand its capabilities in India to serve a growing number of global, as well as local India-based, clients.
“While the debate continues as to whether or not foreign companies – many of whom are PRGX clients – will be allowed to open retail operations in India, local retailers have started to show signs of interest for recovery audit,” said Tushar Sachdev, PRGX India vice president. “PRGX India stands ready to serve local retailers in addition to the existing multinational clients we already provide services for today.”
PRGX recovers on average billion per year on behalf of its clients from overpayments made to vendors. While recovery audit is a common practice in retail, driven by the volumes and complexities of purchase agreements, other high-transaction volume industries are also adopting this best practice. Given that recovery auditors are typically paid on a contingency basis, the value proposition is very attractive. Since 2009, PRGX has expanded its offering from recovery audit, or profit recovery, to Profit Discovery, a new suite of analytics and advisory services that leverage the ‘big data’ and process insights gathered during the recovery process to help clients improve their entire source-to-settle function.
PRGX India Private Ltd. was incorporated on April 9, 2010 with a mandate of tapping the skilled talent pool in India to deliver value to PRGX’s customers, with a specific focus on supporting and extending PRGX’s analytics capabilities and services. PRGX India established its first office in Pune which was formally inaugurated on July 13, 2010 and in May 2011 the entity welcomed its 100th employee.
About PRGX Global, Inc.
Headquartered in Atlanta, Georgia, PRGX Global, Inc. is the world's leading provider of recovery audit services. With approximately 1,500 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. For additional information, please visit PRGX at www.prgx.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 the Company's financial condition, growth strategy, business development efforts, service offerings, service delivery models and the expected benefits to the company from new personnel. 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 that do not meet expectations or justify costs incurred, 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 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 16, 2011. The Company disclaims any obligation or duty to update or modify these forward-looking statements.