Invoice Auditing

Plug financial value leakage through automated reconciliation of invoices

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Eliminate invoicing discrepancies and errors in strategic contracts through auto-validation of the invoice data against the underlying performance and consumption data, and the rate cards/pricing information in the contract

Reduce spend leakageby 5-12% of annual spend in strategic procurement contracts

Drive 2-5% incremental revenueby plugging revenue leakage in strategic customer contracts

Minimize delays,friction and disputes related to inaccurate invoicing

Feature Highlights

Automate Invoice Auditing
  • Leverage computational algorithms for a four-way auto-reconciliation of invoices, POs, contracted pricing, and performance data
  • Seamlessly pull invoicing data through integration with ERP and P2P systems
  • Automated review and approval workflows with advanced analytics to identify discrepancies
  • Generate proforma invoice by reconciling contracted rates with consumption data
Streamline Consumption Tracking
  • Upload consumption data across services through direct integrations with third-party systems
  • Perform on-the-fly approvals and deep analysis of consumption data
  • Automated consumption validation against raw data sourced from various enterprise systems such as ERP, CRM, contingent workforce, project management, warehouse management, inventory management and more
“With SirionLabs’ innovative platform, companies can enjoy far better visibility into contracts, gain greater control over fulfilment of performance obligations, and receive more accurate invoices.”
Ben Tulloch, Managing Director, Accenture Australia
Simplify Spend Management
  • Gain greater visibility into spending with automated tracking of spend against different spend pools
  • Manage spend pools assigned on overall spend budgets as well as those assigned per contract for raising future WOs and SOWs
  • Analyze purchase trends to optimize supplier spend and highlight improvement areas
Leverage Smart Price Books
  • Seamlessly author digital price books that include rates and computational elements and automate the generation and validation of proforma invoices
  • Automate creation and validation of invoices based on approved price books and resource units
  • Manage simple as well as complex pricing structures, including fixed fee, time and material, base units, ARC / RRC, adjustments, etc.
  • Apply predefined currency exchange rate cards or continuous feeds with currency exchange rate sources

See Sirion’s Automated Invoice Auditing Functionality in Action

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Featured Products

SUPPLIER MANAGEMENT

Integrated management of strategic suppliers

Enables procurement and business units to plug spend leakage while improving supplier performance and collaboration with strategic suppliers through effective post-signature governance of such engagements

CONTRACT LIFECYCLE MANAGEMENT

AI-powered enterprise contract management

Enables legal, procurement and sales teams to drive business velocity, compliance and efficiency through advanced automation and collaboration across the contracting lifecycle

ORDER-TO-CASH

Maximize revenue in enterprise accounts

Enables sales and delivery organizations to drive improved revenue, account-level EBITDA and relationships in enterprise accounts

Sirion Can Help You Achieve Better Business Outcomes

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