How Does the Invoice Benchmark for Other Suppliers Work?

Discover how the invoice benchmark for other suppliers work

5
min read
Written by
Jules Ratier

The benchmark operates by comparing your invoiced products against various product databases. This comparison is based on both product codes and product descriptions, utilizing language processing that accounts for differences in wording, interpretations, and languages.

The invoice benchmark for other suppliers searches for identical or similar products under the pricing conditions of other suppliers:

💡 Example:

- You ordered 5 'Eraser A3' from SupplierA at €2 per unit.

- Earlier in the year, you ordered 15 'Blue Eraser B1' from SupplierB at €1.50 per unit.

- Koncile detects that 'Eraser A3' and 'Blue Eraser B1' have similar descriptions.

- Koncile will indicate that you could have saved (2-1.5)*5€, or €2.50, on your order if you had purchased the product from SupplierB.

- This represents 25% of your spending!

‍

‍

‍

Jules Ratier

Co-founder and CEO

Related questions

No items found.

Related articles

Benchmark and Price Comparison

How to Access These Analyses?

How Does the Price Grid Benchmark for Other Suppliers Work?

Close