Conduent’s new software solution delivering $69M in savings
NEW JERSEY, UNITED STATES — Conduent, a technology-driven business solutions provider, has launched FastCap Finance Analytics, its innovative Finance, Accounting and Procurement (FAP) software solution.
Designed to detect concealed working capital, FastCap not only enhances financial stability but also fortifies operational liquidity and bolsters business expansion.
“FastCap combines Conduent expertise and advanced technology to deliver the highest value in capital recovery with an outcome-based pricing model,” remarked Randall King, President, Commercial Solutions at Conduent.
Within a year, FastCap has registered remarkable results across 17 clients, achieving $69 million in cost savings through recoveries, supply base optimization, and elevating contract compliance by 33%. Moreover, it has thwarted over $15 million in erroneous payments that bypassed standard ERP system checks.
Features of FastCap include Spend Forensics, Accounts Payable Post Payment Audit & Recovery, Vendor Statement Solicitation & Recovery, Contract Audits, and Freight Audits.
Conduent, which ranks #40 on the Time Doctor OA500, had an annual 2022 revenue of $3.4 billion, down by 7% compared to 2021. Its market cap is currently at $701 million.
