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We saved $260M in cash for cos. like Meta, Unilever, and J&J by finding baseless charges across 19M+ invoices.
Now, we've raised $75M to extend our guarantee: if we can't find $500K in overpaid invoices, we'll pay you $10K.
Book a demo: hubs.li/Q04qP6lp0
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How it works ⬇️
PROBLEM:
A Fortune 500 gets a million invoices a year. Most of them are for a couple hundred dollars.
Checking one properly means opening the contract, pulling the rate card, matching the PO, and hunting down the bill of lading that proves the shipment moved the way the carrier says it did.
All of that work to defend $200. So nobody does it.
The pile goes to a human. The human audits only a sample (12%) and pays the rest (88%) blindly. That's where the money goes.
At a pharma co, we found an uncontracted surcharge billed across global carriers for two years. $26M nobody questioned, because every individual line looked ordinary.
Each surcharge is small enough that escalating it costs more than paying it. And there are a million of them.
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SOLUTION:
Freehand’s AI reads everything: every line of every invoice, against every contract, rate card, transaction data, bill of lading, warehouse record, time sheet, and email exchange between you and the supplier. It also analyses every past invoice, and transaction data with that supplier,
ever.
It holds all of this knowledge in a Context Graph. When an invoice arrives, it knows what you should pay, what actually shipped, if the service was delivered or not, what the SLA was, and what this supplier billed you for the same service last quarter.
Then it proactively:
> writes up the dispute with the evidence attached
> emails the supplier
> calls her when the email goes quiet
> Slacks your purchases team for more information
> Follows up until the invoice comes back corrected.
> Approves the correct invoice
> Pays it across different currencies and tax structures
> And accrues the right amount to your general ledger
Freehand’s will do all of that to recover $20, because it is doing it across all millions of invoices at the same time, saving 5-10% of company spend with 100% SOX compliance and auditability.
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