Proactively identifies and flags high-risk transactions, duplicate payments, and compliance deviations, preventing financial loss and ensuring process integrity.
Proactive Anomaly Detection
- Continuously monitors transactions for anomalies and unusual patterns.
- Identifies and flags potential duplicate invoices and payments in real-time.
- Applies dynamic risk scoring to every transaction based on multiple data points.
- Uncovers signs of potential fraud and irregular payment activities.
Enhanced Compliance Oversight
- Validates vendor information and payment details against master data.
- Flags transactions that deviate from established internal policies and controls.
- Provides an auditable trail of all identified risks and subsequent actions taken.
- Ensures payments align with approved purchase orders and contract terms.
Automates tedious manual reviews and intelligently prioritizes exceptions, allowing AP teams to focus their efforts on high-value analysis and resolution.
Automate Manual Review
- Automates the cross-referencing of invoices, payments, and vendor data.
- Eliminates the need for manual sampling and spot-checking of transactions.
- Consolidates relevant data and context from attachments for faster investigation.
- Reduces time spent manually reconciling ledger entries with payment data.
Prioritize Analyst Workload
- Surfaces and ranks the most critical exceptions based on risk score and financial impact.
- Presents a prioritized worklist for AP analysts to tackle urgent issues first.
- Reduces investigation time by providing direct links to source documents.
- Minimizes noise by filtering out low-risk, immaterial discrepancies.
Significantly accelerates the financial close by surfacing and resolving exceptions throughout the period, preventing last-minute backlogs and process delays.
Accelerate Exception Resolution
- Provides real-time alerts for high-risk issues, enabling immediate intervention.
- Groups related exceptions and provides root-cause context for quicker resolution.
- Reduces the back-and-forth between departments by centralizing all relevant information.
- Proactively resolves issues before they can impact payment cycles or vendor relationships.
Streamline Period-End Close
- Minimizes the volume of exceptions that need to be addressed during the close window.
- Increases confidence in financial data, reducing the need for late-stage adjustments.
- Ensures a smoother, more predictable close process by mitigating risks proactively.
- Prevents delays caused by unresolved AP issues impacting sub-ledger reconciliation.