BWI: PRGX Forms India Subsidiary and Begins Operations in Pune

Press release from Business Wire India
Source: PRGX Global, Inc
Thursday, September 30, 2010 11:58 AM IST (06:28 AM GMT)
Editors: General: Consumer interest; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Information technology; Technology
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PRGX Forms India Subsidiary and Begins Operations in Pune


Pune, Maharashtra, India, Thursday, September 30, 2010 -- (Business Wire India) -- PRGX Global, Inc. (Nasdaq: PRGX), a business analytics and information services firm headquartered in Atlanta, Georgia, USA, today shared its plans for its India operations at a press conference in Pune, India. Speaking at the press conference were Mr. Romil Bahl, President and CEO of PRGX Global and Mr. Tushar Sachdev, Vice President and head of India Operations for PRGX India Private Limited, a wholly owned subsidiary of PRGX Global.

PRGX Global is the pioneer of new suite of services called "Profit Discovery". The focus of Profit Discovery is improving clients' financial performance via a combination of audit, analytics and advisory services. "As we expand our portfolio of value propositions that enable real profitability improvements for our clients, it is imperative that we continue to source the best talent globally," said Mr. Bahl. "As a core element of our global talent strategy, PRGX has established PRGX India with a first office in Pune - and we have already demonstrated that we can attract top Indian talent," continued Mr. Bahl.

PRGX's Indian operations will provide business analytics, information technology, sales and marketing, and other support services to PRGX's global operations. PRGX's Indian operation is envisaged incubate innovative services and deliver value to PRGX's client teams around the world.

Mr. Bahl further stated that "over the coming period, PRGX will serve an increasingly global set of markets and clients. In our core business, the non-US share is nearly 50% of revenues. Asia, in particular, represents significant growth opportunities for PRGX. While we already have a presence in China, Malaysia and other Asian markets, the establishment of a wholly-owned entity in Pune now positions PRGX to compete in India which will be an important growth market for our services over the next five to ten years."

PRGX India plans to add capabilities as demand grows. Today, the core capabilities used to deliver our services include data mining, procure-to-pay business process expertise, and knowledge of finance operations. "PRGX India expects to expand its workforce to as many as 200 professionals over the next three 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," Mr. Sachdev added.

About PRGX Global, Inc. :

Headquartered in Atlanta, Georgia, PRGX Global, Inc. (Nasdaq:PRGX) is the world's leading provider of recovery audit services. With more than 1,300 employees, the company operates and serves clients in more than 30 countries and provides its services to over 70% of the top 50 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:
http://www.prgx.com

Forward Looking Statements

In addition to historical information, this press release includes certain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the Company's financial condition and revenue growth, the success of its growth strategies and expansion into new markets, and the expected 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 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 services, changes in the market for the Company's services, the Company's ability to successfully attract talent in India, the Company's ability to expand internationally, the Company's ability to retain existing personnel, potential legislative and regulatory changes applicable to the Medicare recovery audit contractor program, the Company's ability to integrate recent and future acquisitions, uncertainty in the credit markets, 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 United States Securities and Exchange Commission, including its Form 10-K filed on March 29, 2010. The Company disclaims any obligation or duty to update or modify these forward-looking statements.


CONTACT DETAILS
Varsha Marathe, Aspire Communications, +919370220270, varsha@aspirepr.in
Manjiri Shedge, Aspire Communications, +919049855743, aspirepr2004@gmail.com

KEYWORDS
CONSUMER, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, IT, TECHNOLOGY

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