Koncile
Koncile is an AI-powered procurement analytics platform that automates invoice verification, extracts detailed line-item data, and provides spend analytics to help businesses control costs and unlock up to 20% savings.
https://www.koncile.ai/en/extract?ref=aipure
Product Information
Updated:Dec 16, 2024
What is Koncile
Koncile is a cutting-edge procurement SaaS solution that combines artificial intelligence and advanced analytics to transform how businesses manage their procurement processes. The platform is specifically designed for procurement teams looking to bring their spending under control through intelligent document processing, automated verification, and strategic spend analysis. Built with state-of-the-art AI technology, Koncile focuses on automating the tedious aspects of procurement while providing actionable insights for better decision-making.
Key Features of Koncile
Koncile is an AI-powered procurement and invoice management platform that combines OCR technology with natural language processing to automate the extraction, analysis, and verification of invoice data. The platform offers customizable data extraction, detailed line-item analysis, automated controls, and spend analytics capabilities, promising up to 20% cost savings through intelligent detection of billing errors and price anomalies.
Intelligent Data Extraction: Advanced OCR technology combined with AI for accurate extraction of structured data from invoices, contracts, and other documents with a 99% success rate
Customizable Controls: User-friendly interface to set up custom extraction fields, validation rules, and automated workflows tailored to specific organizational needs
Line-Item Analysis: Detailed breakdown and validation of each line item in invoices against purchase orders, quotes, and supplier contracts
Automated Anomaly Detection: AI-powered system that automatically identifies pricing discrepancies, billing errors, and potential overcharges
Use Cases of Koncile
Transportation Cost Management: Verification of complex logistics invoices and automated detection of fuel surcharges and additional fees anomalies
Construction Industry Procurement: Managing and controlling costs for materials and services, particularly important with fluctuating prices for materials like steel and wood
Enterprise Spend Analysis: Large-scale processing and analysis of procurement data to identify cost-saving opportunities and optimize supplier relationships
Pros
High accuracy rate (99%) in data extraction
Customizable to specific business needs
Potential for significant cost savings (up to 20%)
Cons
May require initial setup and configuration effort
Performance might vary with non-standardized documents
How to Use Koncile
Sign up/Login: Create an account on Koncile platform or login to your existing account at app.koncile.ai. You can also create a demo account to test the features.
Upload Documents: Import your documents (invoices, contracts, quotes etc.) via email or by connecting to your existing tools. Koncile supports multiple formats including PDFs, scans, and Word documents.
Configure Extraction Fields: Use the intuitive interface to define and customize which data fields you want to extract from your documents. Select from available templates or create your own extraction scenarios.
Set Up Control Rules: Create validation rules and instructions tailored to your organization's needs to automatically verify documents and detect anomalies.
Organize Workflow: Set up automated workflows to sort and direct documents to appropriate categories or suppliers. The AI will organize documents based on your defined needs.
Review Extracted Data: Access detailed line-by-line breakdowns of your invoices and quotes. Verify the extracted information and check for any discrepancies.
Export Results: Export the extracted data in your preferred format (Excel, XLS) or access it via API for integration with other systems.
Monitor & Analyze: Use the platform to track spending patterns, identify savings opportunities, and generate insights for procurement optimization.
Koncile FAQs
Koncile is an AI platform for procurement teams that uses intelligent OCR technology to analyze invoices, contracts, and other business documents. It helps companies control spending and potentially generate up to 20% in savings.
Analytics of Koncile Website
Koncile Traffic & Rankings
6.5K
Monthly Visits
#1383530
Global Rank
-
Category Rank
Traffic Trends: Sep 2024-Nov 2024
Koncile User Insights
00:21:42
Avg. Visit Duration
29.16
Pages Per Visit
28.09%
User Bounce Rate
Top Regions of Koncile
FR: 98.24%
IN: 1.76%
Others: NAN%
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