Conduent’s Newest Software Solution for Finance, Accounting and Procurement Combines Technology and Expertise to Find Hidden Capital
2023年10月19日 - 9:43PM
Conduent Incorporated (Nasdaq: CNDT), a global technology-led
business solutions and services company, today announced its latest
Finance, Accounting and Procurement (FAP) software solution,
FastCap® Finance Analytics, a new technology platform that uncovers
hidden working capital, which frees up cash for operations,
improves financial security and supports growth.
Finance teams are challenged to pinpoint cash leakage because
their technology is often fragmented across multiple Accounts
Payable platforms. Teams have limited use of process automation
tools and lack accurate and timely analytics and reporting.
“FastCap combines Conduent expertise and advanced technology to
deliver the highest value in capital recovery with an outcome-based
pricing model. This capability enables Conduent to quickly zero in
on the best areas to recapture significant funds — without causing
disruption or risk to a business,” said Randall King, President,
Commercial Solutions at Conduent.
FastCap Finance Analytics Improves Business
OutcomesIn 12 months, across 17 clients, FastCap has
delivered $69 million in cost savings through recoveries,
optimizing the supply base and improving contract compliance by
33%. FastCap tools have prevented more than $15 million in
erroneous payments missed by ERP system controls. FastCap analytics
deliver actionable insights that prevent future errors, with an
implementation of 90 days from analysis to recovery.
FastCap Finance Analytics delivers outcomes
using:
- Spend Forensics - financial data mining that analyzes spend
across targeted categories to provide recommendations and
opportunities for quick wins.
- Accounts Payable Post Payment Audit &
Recovery - identifies and recovers erroneous,
overpayments, duplicate payments and other errors after payment has
been made.
- Vendor Statement Solicitation & Recovery - validates
outstanding statement credits to determine the root cause of the
issue and recover the credits.
- Contract Audits - digitizes contracts, purchase orders and
invoices to identify key leakage areas.
- Freight Audits - identifies and audits small parcel shipments
via freight payables to improve rates, collect overpayments and
recover duplicate payments.
Conduent's Procure to Pay Solutions Named “Rising Star”
by ISGInformation Services Group (ISG), a leading global
technology research and advisory firm, recognized Conduent's
Procure to Pay Solutions, which includes FastCap Finance Analytics,
as a “Rising Star” in the FAP Provider Lens Ranking. This is the
first analyst review of the solution.
“Conduent leverages its domain expertise and P2P analytics
platform to deliver actionable insights, prevent revenue leakage
and achieve optimal outcomes,” said Gaurang Pagdi, Lead Industry
Analyst at ISG.
Conduent works with many of the Fortune 100 companies to manage
essential financial interactions and business services and with
FastCap’s no up-front cost, outcome-based pricing, there is
virtually no risk to harness the multidimensional capabilities to
uncover cash.
About ConduentConduent delivers digital
business solutions and services spanning the commercial, government
and transportation spectrum — creating exceptional outcomes for its
clients and the millions of people who count on them. The company
leverages cloud computing, artificial intelligence, machine
learning, automation and advanced analytics to deliver
mission-critical solutions. Through a dedicated global team of
approximately 60,000 associates, process expertise and advanced
technologies, Conduent solutions and services digitally transform
its clients’ operations to enhance customer experiences, improve
performance, increase efficiencies and reduce costs. Conduent adds
momentum to its clients’ missions in many ways, including
delivering 43% of nutrition assistance payments in the U.S.,
enabling 1.3 billion customer service interactions annually,
empowering millions of employees through HR services every year and
processing nearly 12 million tolling transactions every day. Learn
more at www.conduent.com.
Media Contact:Lisa Patterson, Conduent,
+1-816-305-4421, lisa.patterson@conduent.com
Investor Relations Contacts:Giles Goodburn,
Conduent, +1-203-216-3546, ir@conduent.com
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TrademarksConduent is a trademark of Conduent
Incorporated in the United States and/or other countries. Other
names may be trademarks of their respective owners.
Conduent (NASDAQ:CNDT)
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