Detect Fraud, Protect Your Bottom Line.
An AI agent dedicated to scanning invoices, vendor data, and payment patterns for anomalies and suspicious activities that could indicate internal or external Accounts Payable fraud.
The Problem
Problem Solved:
AP departments are prime targets for fraud (e.g., phishing scams leading to changed bank details, fake invoices, internal collusion). Traditional controls may not be sufficient to detect sophisticated or novel fraud schemes.
Key Features & Benefits
Key Features & Benefits:
- Mitigates Financial & Reputational Risk: Proactively identifies potential fraudulent activities.
- Detects Sophisticated Fraud Schemes: AI can uncover patterns missed by manual reviews (e.g., fake vendors, unusual payment patterns, inflated invoices).
- Continuous Monitoring: Provides an ongoing layer of security for AP processes.
- Anomaly Detection: Flags deviations from normal transaction behavior.
- Vendor Verification Support: Can assist in flagging suspicious vendor details.
How It Works
How It Works:
This agent utilizes Machine Learning (ML), particularly anomaly detection algorithms, to identify unusual patterns in invoice data, vendor master files, and payment transactions. Predictive Analytics can assess the risk score of transactions. NLP might be used to analyze communications or vendor details for suspicious language or inconsistencies.
Ready to transform your Accounts Payable process?
Join hundreds of businesses that have revolutionized their workflows and achieved measurable results with our AI agents.