One of the first applications of our AI adjudication engine is for natural gas shipment contracts.
What makes this industry perfect for our technology is the complexity and difficulty to manage the contracts that underpin it.
In fact, we estimate that 17-20% of staff at natural gas companies is dedicated to accounting processes. Far more than in any other industries.
Our AI engine has been used to automate contracts such as:
- virtual pipeline project contracts (equipment, services, natural gas shipments)
- deliveries of LNG (Liquefied Natural Gas) and CNG (Compressed Natural Gas) to end users
- shipments of RNG to pipeline operators
We help our clients reduce their contract processing workload by 80% and eliminate errors that cost their business thousands of dollars every month.
Why use AI reasoning for processing natural gas contracts?
Contract-to-revenue automation is a complex process that involves all tasks related to the fulfillment of a contract throughout its lifecycle. At its core, it is the process leveraging AI to gather information on shipments, delivered goods or services performed and invoicing clients the correct amounts every month. Finally, the calculated amounts can be automatically paid, in accordance with pre-arranged terms.
A correlated process is that of automated contract-to-payment, where AI is used to review and audit outside vendor invoices.
What are natural gas contracts?
By natural gas delivery contracts we mean contracts whereby a business receives natural gas shipments delivered via trucks or in ISO containers. Such deliveries are usually made to businesses that rely on natural gas for their heat and electricity.
If you think this is a niche market - think again!
Natural gas not powers the backbone of many companies that don't have access to the electrical grid or a gas pipeline. Such companies require regular shipments of natural gas (by trucks) to heat their buildings, power their machines or fuel their trucks and bus fleets.
More importantly, natural gas powers the rapidly growing AI industry. Data centers rely on natural gas shipments for their fast deployment and continuous operation. Hence, natural gas will see huge growth in the next 4 years thanks to AI demand. Every spent on building a data center means spent on natural gas to power it. Data centers planned by Project Stargate, AWS, Azure, xAI, Meta and others will amount to over the next 5 years, spent on construction. This means .