Every year, companies lose millions of dollars in value in their supply chains in small, incremental mismatches between contracted terms and supplier actions. This manifests in dozens of small ways – incorrect invoices, unrealized discounts, penalties from minimum purchase obligations – that add up to big costs. Without structured data, most companies can’t track these sources of lost value in a cost-effective way. Knowable’s structured contract data empowers you to take full advantage of the value suppliers should be providing by surfacing insights on key terms, such as:
- Volume and payment term-based discounts
- SLA credits
- Most-favored nation clauses
- Minimum purchase obligations
- Unfavorable payment terms
This insight allows you to take full advantage of your pricing entitlements, dispute incorrect invoices and supplement your supplier governance with pricing and discount reviews.