Invoice Audit Case Study

Despite undergoing a digital transformation of its accounts receivable (AR) process, a life science development and manufacturing company faced persistent challenges in overpaying its suppliers. It lacked an effective system that could identify pricing inconsistencies and contract discrepancies which led to ongoing financial inefficiencies and massive overages on annual expenditures.

By leveraging Ripcord's cutting-edge data capture technology, the organization gained the visibility needed to quickly and easily detect pricing outliers. As a result, they were able to mitigate the risk of spending overages and breach of contract, thereby enhancing their fiscal management with more accurate annual spending for P&L. 

Download the case study to learn about Ripcord's impact which included:

• Machine learning data extraction, classification, and indexing

• Document matching

• Advanced language and currency capabilities