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Use Cases

Leverage the full potential of AI to enhance your spend operations; from contract analysis to compliance; and beyond.

Working Capital Improvement

Purchase Price Variance

Contract Compliance

Line-item Level Spend Intelligence

Working Capital Improvement

Cost pressures at a companies leads to a need to find working capital improvement opportunities.

Majority of negotiated payments terms are scattered in documents like MSAs, SoWs, and amendments.

High volume of documents and transactions make it time and cost prohibitive to use manual or existing automation technology effort.

Compliance to negotiated terms

Pay suppliers according to the payment terms negotiated as part of the overall contractual agreements.

Enhanced Liquidity

By optimizing working capital, a company can free up cash that was previously tied up in operations.

Cost Reduction

Efficient working capital management can lead to reduced borrowing costs, lower interest expenses, and decreased reliance on external financing.

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.

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.

Contract Compliance

Several companies despite having recently implemented a Contract Lifecycle management solution, are unable to have complete visibility of obligations and clauses.

Majority of contracts, SoWs, Amendments etc are not on the company format resulting in emails being the preferred approach during pre-signing.

Legacy contracts yet not uploaded into the CLM due to costly and time-consuming alternatives.

Risk Mitigation

Reduce legal and financial risks. Easily identify where contracts are not compliant with current regulations and policies.

Cost Control

Follow agreed-upon terms and conditions to steer clear of overpayments, penalties, and unexpected expenses.

Reputation and Relationship Management

Demonstrate commitment to contract compliance and build trust with clients, customers, and partners.

Line item level Spend Intelligence

Companies suffer from high AP employee turnover and lack of visibility at invoice line-item level, resulting in missed payments and costly reconciliations

Need for line-item level visibility of spend data that traditional spend cube generated from ERP data cannot provide

High volume of documents make it time and cost prohibitive to use manual or existing automation

Granular Cost Visibility

Identify specific areas where money is being spent and pinpoint cost outliers, and opportunities for cost reduction or optimization.

Better Decision-Making

Make data-driven informed choices and allocate resources more effectively, negotiate better supplier contracts, and optimize purchasing strategies.

Compliance and Fraud Detection

Detect irregularities, discrepancies, and potential instances of fraud or non-compliance with company policies.