A/P Detective™

Detects and finds “Lost Money”

This SaaS scans the files that contain historical Accounts Payable data in order to reconstruct all purchase transactions and to detect 100% of transactional data inconsistencies such as: data field discrepancy, process bypass, data loss and duplicates. A/P Detective™ service provides report that summarizes the types of risks and their cost to business (risk value). The report provides business with Proof-Of-Concept and clear ROI estimation.

As Accounts Payable is one of the major factors contributing to the bottom line of any organization,  the strict controlling of all payments to suppliers becomes an impossible challenge. Controllers only have a limited time to check a small random sample of A/P transaction before the payments are issued.

A/P Detective™service makes sure that each A/P invoice and payment is strictly audited based on 3 and more-way match.

Key Benefits
  1. 100% of all A/P transaction are thoroughly checked
  2. Points out the exact root-cause of every exception
  3. Provides a summary report for exceptions, such as:
    • Duplicate Invoice – Two replicated invoices, where vendor number, date, items and total match.
    • Suspected Duplicate Invoice – Nearly identical invoices, with fuzzy match against invoice number itself.
    • Ghost Invoice – An Invoice found with a reference to a Purchase Order; however, a PO cannot be located.
    • Ghost Payment – A Payment found with a reference to an Invoice; however, an Invoice cannot be located.
    • Item Quantity – An Invoice details show an item with a higher quantity (shipped) than that on the Purchase Order.
    • Item Price – An Invoice details shows an item with a higher unit price than that on the Purchase Order.
    • Ghost Item – An item found on an Invoice which cannot be found on the Purchase Order.
    • Vendor Issue – Exception is found in the Vendor information between various documents in the A/P transaction.
    • VAT/TAX Issue – Exception in the total amount due to extra VAT/TAX or other.
Guaranteed!
  • No False alarms!
  • No Hardware
  • No Integration projects
  • Non Invasive

How does it Work?

By subscribing to Watchdog service you will receive the ability to simply send the predefined real time data to our secure server. Data is sending by simple form of XML messages. Each message is correlated to a specific supplier deal (holistic, end-to-end transaction) and it is verified against other messages that belong to the same deal. Verification is done based on a pre-defined and customizable rules.
When the Engine locates irregularities in your Accounts Payable data, it provides an immediate notification alert.
In addition to the real-time alerts, the solutions include  Dashboards that enable full visibility on operational risks (money risk per exception type; number of exception fixed and handled etc). 
Access to Alert Resolution Manager (ARM) allows for a quick access to the root cause of any exception.

It’s as simple as 1, 2, 3: