Koncile Features
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.
View MoreKey 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
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