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“CASH is the first tool of its kind, an AI-powered contract management system that empowers dealerships to take control of their vendor relationships by digitizing all contracts and utilizing AI to analyze monthly invoices and improve reconciliation,” said Layton Judd, Updation.ai co-founder and CEO.
Scott Bisbee, owner and managing partner of Bisbee Honda of Danville, VA, became an enthusiastic beta-testing dealership for Updation.ai after discovering that, despite his hands-on management approach, the platform was able to uncover numerous discrepancies in vendor billing and deliverables.
“When Updation.ai approached me as a beta tester, I assumed it wouldn’t come to anything because I believed we were already efficient at managing our vendor contracts/relationships,” said Bisbee. “I soon discovered how wrong I was. Once Updation.ai audited our vendor contracts, the team quickly identified what I now believe are common issues--such as paying a vendor for a higher-tier package but receiving a lower-tier service and consistent expense creep by our uniform and facility services contractor,” said Bisbee. “With Updation.ai, these types of issues no longer slip through the cracks, and we are able to hold vendors accountable to deliver exactly what a contract promises.”
Bisbee notes that Updation.ai’s CASH platform insights have translated into better communication with vendors and, perhaps counterintuitively, reduced frustration that previously might have resulted in cancellations rather than mutually agreeable solutions. The vendors Bisbee has confronted with Updation.ai-discovered discrepancies have the opportunity to “make things right” and, more than not, choose to do so.
Importantly, Updation.ai is also enhancing interdepartmental communication and fostering transparency by giving the accounting team greater visibility into vendor agreements. This allows them to spend less time reconciling invoices and tracking down contract details.
“We’ve built a platform that not only simplifies contract management but encourages dealerships to adopt transparent, efficient processes,” said Judd. “By automating and centralizing contract management, Updation.ai allows dealership teams to break free from outdated, manual processes that lead to missed renewals, lost savings, or worse, unnecessary costs.”
About Updation.ai
Updation.ai provides AI-powered vendor and contract management solutions tailored for automotive, truck, RV, and powersports dealerships. Updation.ai’s intuitive CASH (Contract, Accountability, Savings Hub) platform streamlines contract management, enhances vendor relationships, and offers data-driven insights to optimize efficiency and compliance.
Cassandra Cavanah
Cavanah Communications
+1 818-397-4630
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