Monadnock Research - 21 January 2010

ATLANTA, Ga. - PRGX Global (PRGX), formerly PRG-Schultz International, a leading recovery audit firm, is expanding into data analytics and advisory services.

PRGX is calling the new category of combined audit, analytics, and advisory services "profit discovery," and looks to create significant additional opportunities for the firm to serve existing clients and expand into new industry areas, including healthcare and public services.

"PRGX has earned the trust of many of the world's largest companies," said Romil Bahl, President and CEO. "We have helped our clients recover more than four billion dollars in overpayments over the last four years. This success has prompted additional questions from our clients. They want to understand why overpayments have occurred, how to best manage their spend, and what other profits might be hidden within their businesses."

"Our new services address these critical needs. PRGX will use its proprietary technology and business intelligence platform and has recruited top consultants to build a world-class 'profit discovery' capability," continued Bahl. "Profit discovery has the potential to add real incremental dollars to clients' bottom lines. It involves auditing transactional data for errors and overpayments, analyzing the data for trends and insights, and advising clients on additional ways to improve financial performance. We believe we are the only firm that offers this combination of services."

The company's profit discovery services include spend analytics, fraud detection and prevention, permission-based benchmarking, custom analytics solutions; Advisory services leverage insights gained from PRGX Analytics, and include enterprise cost reduction, corporate performance management, finance transformation, and working capital optimization.

The firm's traditional recovery audit services include accounts payable and internal audit, healthcare claims, property lease and CAM, grocery and retail merchandise and NFR transactions, tax and duties, and telecom expenses. The profit discovery suite of services significantly expands the firm's offerings to current clients that includes 70 percent of the top 50 global retailers. It also allows the firm to expand into complementary areas in healthcare, manufacturing, and public services. The company currently participates in the national Medicare Recovery Audit Contractor (RAC) program as a subcontractor in three of the four RAC regions.

"Recovery audits and analytics are an extremely timely way to address waste in the healthcare system, and we are actively pursuing opportunities in this market," added Bahl. "We are crafting value propositions for federal and state agencies, as well as leading private insurers, and we are excited about the opportunity to deliver on our reputation for integrity and rigor in this critically important area."

To better communicate the company's broader value proposition and brand promise, it also announced a new name -- PRGX -- and new tagline, "Discover Your Hidden Profits." Additional benefits from the new name include simplification and consistency with how the company is known on the Internet and to the stock market, while maintaining its name recognition and brand strength.

To commemorate its expanded portfolio of services and new name, PRGX opened the NASDAQ stock market on 21 January with a ceremony at the NASDAQ MarketSite in New York City. The event was broadcast live via the NASDAQ webcam.

Headquartered in Atlanta, Georgia, PRGX Global combines audit, analytics, and advisory service offerings to help clients improve financial performance. PRGX remains the a global leader in recovery auditing. Until January 2010, PRGX was known as PRG-Schultz International, Inc.

PRGX release