Kompare IQ
Kompare IQ is an AI-based solution built to automate your invoice audits by directly comparing your contracts (such as service-level agreements) and pre-established pricing terms against each invoice received from your suppliers. It flags discrepancies, billing errors, and compliance issues—so you catch costly mistakes before they impact your bottom line. Kompare IQ uses advanced natural language processing to interpret contract terms and AI to compare them against incoming invoices.
Key Features
- Contract Parsing: Automatically ingests and interprets pricing clauses from any PDF or Word contract.
- Invoice Matching: Compares line-item details, unit rates, discounts, and surcharges.
- Custom Alert Rules: Define tolerance levels, exception categories, and approval workflows.
- Interactive Dashboard: Visualize anomalies, drill into details, and export reports in one click.
- Audit Trail & Compliance: Full history of reviews, user actions, and change logs for regulatory requirements.
Benefits
- Rapid ROI: Onboard within days and see cost savings immediately.
- Save: up to 90% of manual review time.
- Recover: 2–8% of annual spend in hidden overcharges.
- High accuracy: Continuous model training to adapt to your contracts.
- Track: granular exception dashboards.
- Transparent: audit trails for compliance and reporting.