How are finance teams using AI to get control of tail spend and vendor contracts?

Our procurement team is small and our vendor spend is fragmented across 300+ suppliers. Half of our contracts have auto-renewal clauses we've missed before, and our tail spend is effectively unmanaged. I've been told AI can help but I'm not sure where to start or whether the ROI is there. What are other CFOs actually deploying in spend analytics and contract management, and where has it demonstrably paid back?