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Purchase Price Variance

Purchase Price Variance

Companies with diverse contracts need to quickly identify the existence of a line item negotiated discounts and rebates.

Need for actionable insights on all spend leakage, such as non-compliance of contractual terms.

Existing OCR and ML tools unable to extract line item details effectively.

A laptop showing a text-based interface extracting purchase price variance data

Improve Negotiations

Negotiate better prices with suppliers, optimizing procurement processes, and identify alternative suppliers or materials.

Cost Savings

Pay the optimal price for products or services by guiding spend to the low price supplier for each internal buyer.

Supplier Relationship Improvement

Improve collaboration and communication with suppliers by finding avenues to work together and identify cost-saving measures to build more mutually beneficial relationships.