PRG-Schultz: uncovers hidden profits for clients.

As the world's leading provider of recovery audit services, PRG-Schultz International, Inc. helps Latin American retailers, manufacturers, service companies and other enterprises uncover hidden profits.

"In any organization with a massive number of business transactions, a small percentage invariably result in error," says William Houlin, president for Latin America, PRG-Schultz. "What may seem insignificant on a case-by-case basis can actually cost your business millions of dollars each year. In today's environment, no one can afford to walk away from funds that are rightfully yours."

More than 50 percent of Fortune's Top 100 companies use PRG-Schultz to be certain of their transaction accuracy. As a strategic partner to its clients, PRG-Schultz helps many Latin American regional companies strengthen their businesses.

"Because there is no charge for our services unless we recover funds, PRG-Schultz delivers a true added value to our clients," says Houlin, who has a strong background in the consumer industry and travels frequently to clients' facilities in Latin America. "We believe in developing personal relationships with our clients, so that we can understand their business goals and transaction processes. We also seek to educate them about their potential savings and the benefits of our sophisticated auditing and recovery solutions."

Headquartered in Atlanta, PRG-Schultz International, Inc. (NASDAQ: PRGX) has approximately 3,500 employees who provide clients in more than 40 countries with insightful value to optimize and expertly manage their business transactions. Last year, PRG-Schultz's continuing operations reviewed over 20 billion transactions to recover approximately $2 billion for its clients.

Using proprietary software and expert audit methodologies, PRG-Schultz industry specialists review client invoices, purchase orders, receiving documents, databases and correspondence files to recover lost profits due to overpayments or under-deductions.

"We deliver the services you need to conduct a customized, exhaustive review of your accounts payable and procurement transactions," says Houlin. "That frees the chief financial officer (CFO) and the accounting staff to focus on mission-critical tasks."

With an investment of more than $30 million annually in information technology, PRG-Schultz has amassed a potent combination of proprietary software, powerful databases and advanced methodologies that helps the company's skilled specialists examine transactions in greater line-item detail. "Through continuous reinvestment in technology, PRG-Schultz has clearly differentiated itself, developing processes and procedures that cannot be easily duplicated," says Houlin.

PRG-Schultz is also a leader in examining and verifying the quality and accuracy of EDI and other electronic business transactions. "We understand how to audit Internet-based, business-to-business e-commerce, including web-based procurements," Houlin says. "Through electronic assurance of digital commerce, we deliver substantial benefits to our clients, ensuring that they receive maximum value from every e-commerce transaction."

When engaged by a client, PRG-Schultz digs through more than 150 different financial categories, looking for potential savings. The most common error is duplicate payments--paying twice for the same invoice. "We research the system and conduct an in-depth audit," says Houlin. "If we find that you've made a double payment, we go to the vendor and recover it, keeping a certain percentage of the recovered money for our service."

PRG-Schultz specialists review the complex world of payables and procurement transactions and conduct a thorough examination of the company's records. PRG-Schultz will verify the accuracy of vendor and supplier transactions, and vendor and supplier compliance with agreements made with buyers and the purchasing department.

In addition, PRG-Schultz will help clients identify and quantify process improvements opportunities, reducing potential errors in the future, and set up a system and procedures review to identify possible loss exposures.

"One of the biggest advantages to using our services is that if we don't find anything, we don't charge you anything," Houlin says. "But our specialists know where to look, and we do recover money for virtually all of our clients."

With potential errors in more than 150 accounting categories and thousands of transactions over the course of a year, it's easy to see how small mistakes can add up--and how PRG-Schultz can make a substantial contribution to a client's profitability.

For instance, PRG-Schultz identified inaccuracies in a major grocery retailer's system, saving the client $13 million over a four-year period. When PRG-Schultz conducted a review of an international computer products distributor recently, the audit showed that the company's blanket purchase orders were not reconciled to the related invoices. "We not only identified and recovered more than $1 million for the client," Houlin says, "we developed a system change resulting in an additional $5 million estimated cost savings over five years."

PRG-Schultz has served Latin American multinationals for many years, primarily in the retail industry. "We've made a large contribution to our clients, who are mostly in Mexico and Brazil," Houlin says. "Now, we are investing our resources and reaching out to clients of all types in the rest of the region." PRG-Schultz offers separate audit programs for retailers, who typically deal with numerous vendors and transactions, and for commercial accounts, which usually have a more limited number of vendors.

Houlin says one of the most important issues for Latin American enterprises is confidentiality "We know that our business processes are accurate, since we have been serving the market for more than 20 years, and we fully guarantee our work," he adds.

As Houlin says, PRG-Schultz is attuned to each client's individual needs, considerate of key client and vendor relationships, protective of client data confidentiality and sensitive to client data integrity.

"Our client-driven review process identifies and clarifies your needs up front to address your organization's concerns in order to exceed your expectations," he says. "We have talented people specially trained for these tasks, along with the industry's reading software and technical support. As a result, we create win-win situations, helping our clients find their 'missing money' and improve their bottom-line performance."

For more information, visit www.prgx.com.