Scan & Scrape
Web pages, PDF documents, Excel and Word files, Digital images and physical pictures
Discover your hidden gold mine
Why do I need it?
How does it work?
What is the outcome?
For any growing company, the corruption of data integrity is inevitable. Many companies struggle with spare part master data quality and don't understand what is being used where, purchased from which supplier and at what price.
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SpareCompare will retrieve your unstructured data, whether from physical and digital sources, into a transparent and consolidated overview, enabling you to gain insight into your business - from invoices, purchase orders to packing lists and spare parts ordering.
With this overview, you for example have the basis to consider consolidation for frequently purchased items, re-evaluate discount agreements with given suppliers and look at having popular spare parts on hand at local warehouses instead of frequently purchasing directly from the competing companies. Additionally, you are empowered to analyze and look into spend on item level. What you will get is up to you - we can accomodate any need.
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Annual save of 10-12%
Use case: Large Enterprise Customer operating within field service
Challenge
The organization, operating in multiple countries with a decentralized business model, needed to get a consolidated overview of their thousands of spare part invoices and purchase orders, from both physical documents and PDF:s to optimize internal processes and manage future spend
Solution
The SpareCompare Document Scan & Scrape machine processed and scraped xx documents and transformed it into actionable, accurate insight that enabled the organization to take future actions
Result
The project, delivered in 5 weeks, showed an estimated saving of 10-12% annually for the organization:
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25% of invoices had a smaller net sum than the internal invoice processing fee estimated to 50 EUR / Invoice
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24% of all invoices had only 1 item purchased, internal handling cost estimated to be +300% more than the total amount of the invoice sum
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80% of items purchased were identified as recurring purchases - meaning only 20% were one-time-purchased. The action taken from this insight was a significant supplier consolidation of purchases driving procurement savings and increase of availability and service levels in the local warehouse
