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Organizations often possess vast amounts of financial data but lack the tools to efficiently convert it into actionable, money-saving insights. Conduent Incorporated has announced that its FastCap® Finance Analytics solution now integrates a GenAI-powered contract and spend analytics capability. This enhancement allows the platform to expedite contract intake, verify compliance, and identify procurement savings and financial exposures with greater speed and accuracy.
Conduent's FastCap platform integrates new GenAI-powered contract and spend analytics.
The AI automates contract analysis in any language, drastically reducing processing time.
It detects non-compliance by comparing contract terms against actual spend.
The tool provides actionable procurement insights by comparing spend to negotiated prices.
It uses AI modeling to assess tariff impacts across procurement scenarios.
Since 2021, FastCap has helped clients recover or prevent over $850 million in overpayments.
Built on a sophisticated GenAI model designed for enterprise use, the new capabilities empower finance, accounting, and procurement teams. Key functions include automating the analysis of contracts in any language, detecting commercial terms to ensure compliance with actual spend, providing actionable procurement insights by comparing spend against negotiated prices, and applying AI modeling to assess tariff impacts across strategic procurement scenarios.
The platform is already delivering significant results. In one instance, it helped a client process 2,400 contracts—a task that normally takes six to eight months—in just three weeks. In another, it uncovered over $3.5 million in erroneous payments for a global logistics client. For a Fortune 500 company, it identified $6.3 million in savings on non-core spend.
Kimberly Marshall, Head of Commercial Solutions and Account Management at Conduent, explained the solution's value, stating, “Organizations have vast financial data but often lack tools to convert it into actionable insights. FastCap blends domain expertise with cutting-edge GenAI and AI technologies to deliver meaningful analysis that drives real business results. These new capabilities in contract and spend analytics expand the impact that FastCap can achieve for our clients’ bottom line.”
This integration represents a significant evolution for the FastCap platform, which initially launched with a focus on preventing payment errors. By leveraging GenAI, Conduent is providing a more holistic financial performance tool that proactively identifies savings opportunities and mitigates risk, moving beyond recovery to intelligent, data-driven financial management.
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 56,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $85 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day.
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