AI technology is becoming more and more mainstream, but implementing a contract intelligence solution like Terzo can still feel like a huge risk. Terzo’s AI-fueled financial intelligence platform will help modernize the way you manage, forecast, and understand your Enterprise spend. With the data extracted, you can unlock answers in your contracts, invoices, and other financial documents. Someday AI solutions will be commonplace, but we’re not there quite yet.
Many financial leaders have a common misconception: Do nothing, and you’ll be safe. But if you “play it safe” and wait to implement new technology, your organization could be in danger.
It’s time for finance leaders to step up and take action. It’s time to figure out how to optimize supplier expenses, reduce redundancy, and eliminate waste to increase margins. If you’re waiting for 2030 to start using AI contract intelligence, you’re waiting too long.
We know that every company is on its own path. We’re happy to come alongside you and educate you on how Terzo’s contract intelligence solution can reduce costs and save money. But the reality is that waiting to implement this solution can cost you in a number of ways.
Missed Opportunities
Contract intelligence gives you data and insight at your fingertips. With that, you have the opportunity to change the trajectory of your company. Without that data, you will miss opportunities to save money. Not only that, but without the data Terzo can help uncover, you could miss opportunities to ensure you’re in compliance. You’ll miss key insights into the details of your parts, such as warranties, terms, and conditions. And you’ll miss the opportunity for your team to get a bonus at the end of the year because you hit your savings targets.
Lost Productivity
As teams are shrinking, it’s becoming more and more difficult to accomplish all the work that needs to be done. Without an AI contract intelligence & spend analytics tool like Terzo, it’s impossible to keep up, much less get ahead. Your team will get stuck putting out fires and won’t be able to do the deep, strategic work that is necessary to move the business forward. Without help, your team will be drowning in tedious manual data work instead of focusing on the work that matters.
Delayed Results
Before AI contract analysis, the only way to get help with a deep contract review was to hire a consultant. The old way meant hiring a consulting firm, giving them all your files, and then waiting two years for the results. The consultants would deliver PowerPoint and Excel files without further tools to analyze or gain insight into their results.
You can’t drive cost savings by waiting two years for data. It’s impossible to improve your financial results without a tool like Terzo because the manual labor of a consultant takes far too long. By the time the consultant has delivered their results, it’s already outdated. Terzo can accomplish deep contract intelligence and analytics in a fraction of the time with 99%+ accuracy. So you can drive cost savings for the next quarter, not two years from now.
Low Team Morale
When leaders don’t take action, employees think you don’t care. Leaders need to show their team that they care and are taking action to make investments for the future of the company. When you take action, it creates an inspiring environment for your team and motivates them to contribute and do good work. And your board and shareholders will be much happier, too.
The True Cost of Doing Nothing
Ultimately, it’s up to leaders to ask themselves: what is the true cost of doing nothing? What does it mean for our bottom line? What does it mean for our company culture?
A conservative approach might seem safer, but it’s time for leaders to make a different decision to drive results. If you sit back and do nothing, you get left behind. It’s not a matter of if. It’s when.
At Terzo, we know that the biggest risk a leader can take is to do nothing.
To learn more about leveraging the power of AI to become more productive, create more opportunities, improve your bottom line, and boost morale, reach out to the team at Terzo for a free consultation.
