Name: We Fully Automated Purchase Services Spend Analysis
Uploaded: 2021-06-04T12:16:35+00:00
Description: Here’s how I got the idea for our patent: A few years ago, we were working with a client in purchase services. Part of our process to identify cost savings is to lo…

Here’s how I got the idea for our patent:

A few years ago, we were working with a client in purchase services.

Part of our process to identify cost savings is to look at the past 12 months’ invoices retrospectively, which would require us to have people typing in invoice details manually.

Our client said, “You keep on finding all these errors. Can you help us manage some of our purchase overspent (which is the more complex spend that gets 100s or 1000s of invoices every month)?”

I said, “Absolutely.”

In my head, I thought we needed to hire some more people and set up a process. But then I thought, what if we could automate this.

And that led to a process of trying to automate the analysis and the management of purchase service spend, which is so difficult.

We went down this journey of creating the needed tools and working with a patent attorney.

2 years later, we have the patent that identifies opportunities in purchase services spend.

We're able to get to those invoice details with full automation.

Our technology helps hospitals to:

1. Identify cost savings
2. Manage and proactively protect their money before they overspend.

Reach out to me for details!

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