US $1.5M
savings from optimization
Improved audit efficiency
Improved automated reporting
Rapid deployment and payback
Executive Summary
NowVertical’s AI solution revolutionized Companhia Hidrelétrica do São Francisco S.A.’s (Chesf) expense management process. By deploying a continuous audit model, the solution efficiently identified and reduced improper payments, resulting in savings of R$200k in the first month and projected yearly savings of R$7.2MM (approximately US$1.5M). With two months to implement, the solution demonstrated a payback period of only one month. Real-time monitoring, automated reporting, and seamless integration enhanced compliance and transparency, exemplifying the power of AI technology in optimizing organizational efficiency.
Business needs
Companhia Hidrelétrica do São Francisco S.A. (Chesf), faced a critical business need to improve expense management across the organization. With over 5,000 employees and a wide network of power plants, Chesf encountered challenges in effectively auditing, managing, and reducing travel expenses incurred by its workforce. The existing manual processes and numerous spreadsheets led to errors, inconsistencies, and improper payments, impacting the company’s financial efficiency.
Business results after AI implementation:
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Projected yearly savings of R$7.2MM due to identifying and preventing erroneous expense claims.
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Streamlined expense management process through continuous audit model, saving time and effort on manual auditing.
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Real-time monitoring of expenses and automated alerts helped prevent further improper payments.
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Rapid deployment of AI solution, with a payback period of one month.
   
   
