Conduent Incorporated, a global provider of technology-driven business solutions, has announced a major enhancement to its FastCap® Finance Analytics platform with the integration of GenAI-powered contract and spend analytics. The upgraded capabilities are designed to accelerate contract processing, ensure compliance, and uncover new avenues for cost savings and financial risk mitigation.
Originally developed to prevent payment errors and recover incorrect payments, FastCap has helped clients recover or prevent more than $850 million in overpayments since its 2021 launch. The new GenAI-driven features expand the platform’s role across finance, procurement, and contract management teams by automating contract analysis, identifying spend inefficiencies, and assessing tariff exposures.
Among its latest advancements, FastCap now supports:
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Contract Intake: Automates review and matching of supplier terms in multiple languages, cutting months-long contract reviews down to weeks.
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Contract Compliance: Detects deviations between commercial terms and actual spend, with one audit uncovering $3.5 million in erroneous payments for a logistics client.
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Procurement Spend Analysis: Highlights savings opportunities by comparing negotiated and actual prices — identifying $6.3 million in potential savings for a Fortune 500 client.
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Tariff Management: Uses AI modeling to evaluate tariff impacts, helping a manufacturer identify $750 million in tariff-related business exposure.
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“Organizations have vast financial data but often lack tools to convert it into actionable insights,” said Kimberly Marshall, Head of Commercial Solutions and Account Management at Conduent. “FastCap blends domain expertise with cutting-edge GenAI and AI technologies to deliver meaningful analysis that drives real business results.”
With these new capabilities, Conduent strengthens its position in enabling organizations to maximize savings, streamline procurement, and make data-driven financial decisions with greater precision and speed.
