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In this paper various phasing schemes that reduce the Peak-to-Average Power Ratio (PAPR) within OFDM systems are discussed. Simulation results on the effect of these phasing schemes in reducing PAPR are also presented. Companding OFDM symbols prior to transmission using the μ-Law has also been shown in previous papers to further reduce the PAPR. This paper now presents the results of combining both companding with various phasing schemes. The Bit-Error Rate (BER) performance of various PAPR reduction techniques in an Additive White Gaussian Noise (AWGN) channel is also presented. It is shown that combining companding and the application of phasing schemes can significantly improve further PAPR reduction as well as improve the BER performance.