• How does Discover Dollar enables organizations to save millions of dollar?
• What is Digital transformation & how is Discover Dollar enabling organisations to be future ready?
• How did Discover Dollar identified $419+ millions in overpayments and revenue leakages?

I'll begin with a vision and mission statement and then discuss how we patch 20 million P&L for one of our customers. Discover Dollar as the name says, the vision is to discover value in terms of dollars. Thus, what is the difference between dollars directly impacting the bottom line and cash flows harnessing AI and adopting a data-first approach? That is our overarching vision. 

You've probably heard it multiple times recently. Data is a new type of oil. And people tell us that if there is data, we can accomplish a great deal. And we truly live by all of these words. Thus, we approach our customers and tell them to simply provide their data and we will convert them into dollars because there is a lot of actual value that is not being realized to its full potential simply because they do not know how to use the data properly at the moment. I'm currently speaking from a very, very high 30,000ft altitude. Permit me to delve a little deeper. Thus, the data we are collecting at the moment is focused on the procure paid side of things for large enterprises. As a result, very large enterprises have a large number of suppliers and negotiate prices, promotions, and discounts with each supplier. All of this is accomplished onboard. 

And as you can see, all of these negotiations take place via emails, contacts, and phone calls, all of which are data-driven. And what we've seen is that even when businesses make those deals and negotiate, not all information is available to all teams within the business. For example, when the finance accounting team needs to use it, they can't access it because it's sitting in a massive amount of emails or hundreds of contracts signed each time a payment is made. 

Thus, what we've accomplished at Discover Dollar develop some proprietary natural language processing algorithms that can shift through all of these contracts, emails, and negotiations, determining the best price available and determining the actual discount available for that specific product, price, or item. Ascertain that you accomplish all of this without leaving any money on the table. That is precisely what occurred with that customer.

Having said that, we have encountered businesses that wish to collaborate with us in exploring blockchain and other emerging digital technologies. That is why the spectrum is so diverse. However, it is the best time I can describe in terms of the transformations occurring, which have been accelerated by the pandemic. To answer the second part of the question about why businesses choose Discover Dollar over other payment methods, I would say that Discover Dollar is quite unique in concept. I can confidently state that we are the world's pioneers in terms of how the business model was developed. Second, we are not in direct competition with other businesses. We are a complementary solution to the majority of digital transformation solutions. For instance, when we worked with ABN Web's predecessor company, which you mentioned, Deloitte was in charge of their regular processes' digital transformation. However, we were able to assist because when a business undergoes a digital transformation, there is a possibility of change, which can result in process change confusion, which can result in financial loss as well. We were able to ensure that did not happen during a financial transformation, a merger, or a system change, as there is a possibility of increased leakage.

I can say that this is a critical and pertinent question. Thus, whatever you quoted, that 5% of EBITA is lost by companies unknowingly is cited by EY, a global leader in consulting and financial services. The first reason is that this is a blind spot for the majority of businesses. Thus, if you ask the majority of finance leaders, they would be unaware of many. At times, there are a few companies that are aware, but they are few and far between. I'd estimate that one or two people agree on this potential leakage in every ten conversations. To illustrate this, I'll use the concept of a blind spot. If you drive a car equipped with a rearview mirror that allows you to see your drive, what happens? However, this does not mean that everything is visible if you have a rear viewer. Additionally, there is a blind spot in the car that most people are unaware of. As a good driver is aware, there is a blind spot; however, an average or bad driver may believe he has all this ability to think and maneuver. Thus, the situation is identical here as well. As a result, many people are unaware that a potential blind spot exists. Simply because they have a cutting-edge ERP system or processes that have been vetted by a global consulting firm does not mean that everything is in order. No business is completely approved. And it is precisely because they overlooked this piece that this entire journey began. Previously, everything was manual, and when everything was manual, people had the expectation that everything would be fine. This much must be accomplished. As a result, there was never an expectation of 100 percent accuracy when it came to the account payable team's payment. Thus, 99 or 99.5 percent accuracy is a globally accepted standard. Thus, 99.5 percent became the new 100%. That is, in fact, the correct thing to do. However, even with 99.5 percent accuracy, you have zero.