Benchmark and Price Comparison

How to access the different types of analyses available

Introduction

Several types of analyses are available:

• Price Compliance Analysis for each line of every invoice in relation to price grids, quotes, or purchase orders;

• “Benchmark” analysis of identical or similar products at better prices from your other suppliers, as well as across all other invoices imported into Koncile.

These analyses are available:

• By supplier: The tool aggregates all data to conduct supplier-by-supplier analyses, helping you better evaluate and manage your purchases and supplier relationships (contractual coverage, error rates, missed opportunities, etc.);

• By invoice: The tool summarizes all detected anomalies and opportunities within the invoice, with the option to automatically generate credit requests;

• By invoice line: The tool analyzes compliance and opportunities at the line-item level of each invoice;

• By product: The tool retrospectively builds a catalog to provide you with aggregated information on products purchased throughout the year.

Directly on the platform, you can access the analyses:

• By invoice;

• By invoice line.

Via an Excel download, you can access the complete analysis, which is organized into four tabs as follows:

• “Analytics” tab: presents aggregated data and analyses by supplier;

• “General” tab: presents data and analyses by invoices from a supplier;

• “Lines” tab: presents data and analyses for each invoice line;

• “Catalog” tab: presents the catalog of all products found in the invoices, along with product-specific analyses.

How Benchmark is performed

The benchmark operates by comparing your invoiced products against various product databases. This comparison is based on both product codes and product descriptions, utilizing language processing that accounts for differences in wording, interpretations, and languages.

The invoice benchmark for other suppliers searches for identical or similar products under the pricing conditions of other suppliers.

Example

- You ordered 5 'Eraser A3' from SupplierA at €2 per unit.

- Earlier in the year, you ordered 15 'Blue Eraser B1' from SupplierB at €1.50 per unit.

- Koncile detects that 'Eraser A3' and 'Blue Eraser B1' have similar descriptions.

- Koncile will indicate that you could have saved (2-1.5)*5€, or €2.50, on your order if you had purchased the product from SupplierB.

- This represents 25% of your spending!

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