Continuous monitoring of invoice and payment risks is key to protecting your business. TRAILD's always-on anomaly detection stops invoice fraud and errors, before they impact your bottom line.
When an invoice arrives in TRAILD, it’s level of risk is automatically assessed. Real-time flags alert you top fraud and errors early in the AP process. TRAILD detects an array of unusual behaviours such as invoices with unusually high values, invoices with changed payment terms or payment details. Intuitive 2&3 way PO matching also catches human errors if your suppliers are manually keying in their invoices.
TRAILD learns, with machine learning, what is normal in terms of how you interact with your suppliers. By ingesting your historical behaviours in accounts payable in your ERP or accounting system, TRAILD builds a deep understanding of your business - a fingerprint of what is normal.
TRAILD also builds up an understanding of what is normal behavior from a supplier given their actions not only with you, but also with other businesses across our network and how they interact with others like you. This deep collective knowledge of supplier's patterns and behaviour on the network, enhanced with third party data like government databases, builds a clear picture of each supplier and helps to identify irregularities.
By establishing a baseline of normal behavior, a normal transaction for your business and a normal transaction for a specific supplier - TRAILD's AI can detect any deviations and identify potential security risks, such as sudden changes in invoice practices or pattens that suggest a vendor might be compromised.
Your suppliers may be manually entering invoice data exposing invoices to human errors, such as incorrect quantities, unit prices, or sending duplicate invoices. TRAILD catches these errors and brings them to your attention, to ensure greater accuracy in your payments.
TRAILD's always-on anomaly detection to catch invoice fraud attempts that often go overlooked, such as doctored invoices and compromised supplier emails with invoices sent from unusual locations. TRAILD flags potential risks like phantom vendors with unverified details and instances of overbilling.
In flagging errors and risk early on in your accounts payable process before payment is released, TRAILD saves companies bottom lines from the impact of costly errors and invoice fraud. Anomaly detection ensures you only pay the correct amount to verified accounts.
We had a couple of near misses with incorrect supplier invoices, so we were looking to protect ourselves and add an extra layer of security across the company. TRAILD was a winner
We could see the benefits right away! It has already saved us from paying the same supplier invoice twice by mistake!
TRAILD has made our AP process incredibly efficient and secure, saving hours in manual processin g and helping me identify the high risk payments that need further review.
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