Manual invoice validation is often slow, error-prone, and lacks capacity. Complex contracts lead to missed discounts, overcharges and wasted spend. Contractual agreements contain significant financial details beyond what companies may validate within the fees section of invoices. Current validation processes may be incomplete or require standardization. ISG finds most enterprises are unknowingly overpaying suppliers by 3-10%.
Using ISG’s years of procurement and supplier expertise, we meticulously analyze historical invoices to uncover discrepancies and excess charges. ISG’s proven methodology and decades of negotiating and managing contracts drives higher validation accuracy using a 4-way data match. We also work with our clients to build a proactive vendor management organization to drive maturity and prevent future errors.
We deliver real outcomes: recovered spend, improved accuracy and streamlined vendor relationships.
Achieve substantial savings
Depending on the type of service
or product, the potential savings can range between 3% and 10%.
Mitigate unnecessary spend
Identify contract vs. invoice discrepancies and prevent ongoing cost and value leakage.
Enhance visibility in supplier spending
Use data to make decisions when decommissioning legacy systems, splitting spend between suppliers or negotiating a new contract.
Reduce financial risk
Control for excessive charges now and in the future by using ongoing invoice validation to negotiate savings and benefits.
An Australian retail bank saved over $1M on a $15M contract by identifying billing inaccuracies from their telco provider.
A leading manufacturer saved $1.2M, or 8% of the annual invoice value, by identifying discrepancies on hardware spend.
A leading manufacturer saved $570k across two suppliers by identifying billing discrepancies in their infrastructure spend.
A leading global financial institution needed to gain complete visibility and control of its sourcing and procurement operations.
Learn moreISG helps a banking, financial services and insurance (BSFI) company transition to a new operating model, improving its efficiency and ensuring regulatory compliance.
Learn moreISG helps a major food service retail company to adopt an intelligent contracting approach, improving its efficiency and ensuring regulatory compliance.
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