NEWSROOM
Catch up on the latest CPRS updates, news coverage, and more.
As Labor Costs Rise, So Can Invoicing Errors
CPRS has the $67,000 Solution to Finding Labor-Cost Savings
Bellevue, WA (August 2024) – As spiraling labor costs make employers dizzy this summer, a new blog from CPRS, Inc., is providing solutions to finding labor-cost savings.
According to Reuters, labor costs rose 4.4% year-on-year in the first quarter. Errors and overpayments on contract labor invoices can be identified and recovered, often for tens of thousands of dollars. CPRS helped a client in the EPC-sector uncover significant non-contractual overtime charges totaling $67,382.84, a whopping 18.5% of the invoices submitted and approved.
“In the EPC-sector, businesses are used to dealing with complex contracting and onerous overtime rules,” said Dan Berg, Senior Vice President of CPRS, a Recovery Audit firm known for superior client satisfaction and outstanding ROI. “But the same complexity that protects the business-vendor relationship also creates opportunities for inaccuracies.”
CPRS used its Comprehensive Invoice Review Process to find hours invoiced that did not meet the criteria for overtime billing. Overtime was billed before the 40-hour work-week was reached. The CPRS audit teams, recognized for their extensive industry experience and expertise, conducted an audit guided by experience to reveal the overbilling.
In addition, using the CPRS Pearl™ Platform provided a flexible, web-based suite of tools that was tailored to meet the client’s specific needs. Using the Pearl™ claims portal, reporting dashboard, and audit tools, the client was able to manage and analyze data effectively and securely, leading to tens of thousands saved.
For more information on this $67,000 solution, visit the CPRS Blog or click here to download the Finding Labor-Cost Savings Case Study.
CPRS Appoints Jeff Meaux as Vice President of Business Development
Bellevue, WA (May 2023) – CPRS, Inc., is pleased to announce the appointment of Jeff Meaux as the new Vice President of Business Development. In this role, Jeff will spearhead CPRS’s strategic growth initiatives, forge key partnerships and drive business expansion.
Jeff brings a wealth of experience and a proven track record in business development. With his dynamic leadership skills and visionary mindset, we are confident in his ability to steer our business development efforts to new heights.
“We are delighted to welcome Jeff Meaux to our leadership team,” said Rick Beck, CEO of CPRS. “Jeff’s extensive experience and strategic vision make him the ideal candidate to lead our business development efforts. As CPRS continues to innovate and provide comprehensive cost recovery solutions, Jeff will play a pivotal role in driving our growth and expanding our client base.”
As the Vice President of Business Development, Jeff will be responsible for identifying new business opportunities, developing strategic partnerships, and driving revenue growth. He will work closely with our executive team to define and execute CPRS’s business development strategy while ensuring alignment with the company’s mission and vision.
Jeff Meaux,
VP of Business Development
CPRS Appoints Matt Holmes as Vice President of Audit Operations
Bellevue, WA (February 2023) – CPRS, Inc., is pleased to announce the appointment of Matt Holmes as the new Vice President of Audit Operations. In this role, Matt will play a crucial part in overseeing CPRS’s audit processes and ensuring compliance with regulatory standards.
Matt brings a wealth of audit recovery experience that will serve our clients well. Matt has a deep knowledge of Contract Compliance and Accounts Payable audits and has led numerous process improvement engagements across a wide variety of industries.
“We are thrilled to welcome Matt Holmes to our executive team,” said Rick Beck, CEO of CPRS. “His exceptional leadership and deep understanding of audit operations make him an ideal fit for this role. As CPRS continues to expand and provide innovative cost recovery solutions. Matt will be instrumental in ensuring the integrity of our processes and upholding the highest standards of accountability.”
As the Vice President of Audit Operations, Matt will be responsible for establishing and overseeing comprehensive audit procedures, monitoring risk management practices, and providing guidance on regulatory compliance. His expertise will further enhance CPRS’s commitment to delivering transparent and reliable payment solutions that meet the needs of our clients.
Matt Holmes,
VP of Audit Operations
CPRS Acquires the RAS-Softvision Assets from Cognizant
Bellevue, WA (September 26, 2022) – CPRS, Inc., leader in payment optimization, is pleased to announce the completion of our acquisition of the RAS-Softvision assets from Cognizant.
“We are fortunate to expand our team into India and benefit from an experienced IT and Audit team who have been supporting Recovery Audit Service (RAS) clients for many years. Integrating this talented team and innovative technology will accelerate CPRS’s progress toward world class technology offerings in both real-time and traditional P2P billing validation,” said Rick Beck, CPRS CEO.
Over time, we will leverage our combined infrastructure and complementary services to deliver even better value and faster delivery times to our customers while simultaneously raising the bar in providing an industry leading user experience for our employees.
Rick Beck, CEO
About CPRS
CPRS, Inc., based in Bellevue, Washington, is the leading provider of profit recovery solutions to Fortune 100 companies across all industries in North America and Canada. CPRS identifies and recovers financial leakage across the procure-to-pay cycle. CPRS specializes in comprehensive post-review reporting to make process improvements and reduce future lost dollars. Our savvy team of audit professionals believes in doing the extra legwork to get beyond the “low hanging fruit” that defines too many in our industry. Instead, we propose a thoughtful, tailored approach based on meticulous sleuthing and harmonious teamwork. All with one goal in mind: to uncover meaningful, repeatable and substantial recoveries. For more information, visit www.cprs-inc.com.