Enterprise businesses have a big problem: valuable data is buried in contracts, invoices, and purchase orders.
This goldmine of data is impossible to access because it’s locked away in PDFs. These PDFs are spread out across disparate systems, and without a contract AI solution to extract and centralize the data, valuable financial insights will remain out of reach.
Historically, finance teams have been flying blind due to this critical information being siloed across disparate systems. Finance leaders can’t improve revenue without a full picture of their vendor and expense data and ERPs and P2Ps do not have AI document intelligence. There’s a huge gap in data extraction and analysis, and these blind spots increase operational risk.
Because of this, enterprises are wasting millions of dollars each year. Financial leaders cannot see duplicate and redundant supplier spend, and accurate forecasting is impossible.
Time for a Change: Finance Needs Contract Data
Some leaders will sit back and do nothing, but the most forward-thinking CFOs are leveraging contract AI to manage their entire landscape of financial data.
A contract intelligence solution like Terzo will help centralize contracts and aggregate financial data and invoices. Terzo’s financial intelligence platform will extract critical data automatically and accurately, so you can search, sort, and report on that data immediately.
We’ve helped the world’s largest companies gain access and insights to the data they need, fast. We don’t just track your expenses, we help you understand your entire financial landscape of spend and revenue.
The Old Way is Slow
Before contract AI, the only way to gain access to this siloed information was to hire a team of consultants to go into every single PDF and manually pull the data out. These consulting firms took 18-24 months and returned the information in spreadsheets, without analysis. You could also extract the data using your in-house team, but either way, it was a tedious manual process. By the time the process was done, the data was already over a year old.
With AI data extraction, it’s now possible to quickly get clean, accurate data. Your team is free to focus on strategic work instead of the operational burden and cost of reviewing contracts manually. AI is the answer to do work faster and start making smarter decisions. You can get high-integrity data within weeks now, not years.
The New Way is Fast
Contract AI now provides easy access to the data points hidden in contracts so financial leaders can make the best decisions based on their full financial landscape. Terzo’s unique functionality can scan and extract the most critical information from contracts, invoices, purchase orders and morePDFs, and present these insights in an analytics dashboards.
Using Terzo analytics and inventory intelligence, you can gain insights into your inventory and assets to understand where every dollar is spent across all categories (down to the product SKU level). You’ll understand where to upgrade your contracts based on where you need more resources, or where you can scale back. You’ll be able to identify duplicate and redundant supplier spend so you know exactly where your money is going. With new information about your expenses and tracking, you can finally drive results and improve your bottom line.
Now, Terzo has embedded GenAI with IBM watsonx, so you can now ask questions about the data. You can access insights from documents like supplier contracts and invoices, to accelerate decision-making and save teams time on reporting and forecasting.
Don’t Wait Any Longer
Everyone has bad data, but it’s time for financial leaders to step up and fix it. Stop wasting time digging for data you can find in seconds with Terzo’s contract AI solution.
Unlock insights into buried data with Terzo’s financial intelligence platform and drive results across your entire enterprise today.
To learn more about leveraging a contract AI solution for enterprise, reach out to the team at Terzo for a free consultation.
