Transaction Analytics

Accounts Payable and Employee Payments

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Transaction Analytics

Summary

Organisations typically make errors on between 0.5% and 2% of their accounts payable transactions due to financial leakage, fraud and more.

Transaction monitoring is quickly becoming a modern challenge faced by CEOs and CFOs. Large individual transaction volumes and the permeation of fraud and processing errors demands secure, scalable solutions, able to handle growing transaction data estates and the need for unprecedented levels of monitoring and testing.

Modern transaction analytics augments the CEO/CFOs operations with super-human memory, processing power and insights to generate timely, consistent, deliberate and reliable analytics for a greater chance at success. Monitoring can be run off-site (for separation of duties) or deployed internally to trusted teams.

Automatically Test Big Data With Ease And Confidence

High ROI, Low Investment, Quick Wins

  • Organisations typically lose between 0.5% and 2% of their accounts payable due to financial leakage and fraud.
  • Automated processes that can be run externally or deployed internally at a low cost and with minimal internal involvement.

Ingest, Compute, Transform, Store & Consume

  • Analyse large data sets including accounts payable, payroll, superannuation, employee expenses, supplier data and more.
  • Validate against external data including ASIC, ABR and ATO.
  • Pay for compute and storage only when you use it through cloud deployment and resource automation.
  • Fully managed cloud-based platforms and security.
  • Data science, machine learning and artificial intelligence to be real-time and autonomous around transaction analytics.

Some Examples of the Tests We Conduct

  • Missing Vendors in Master File, Ghost Employees and Suppliers.
  • Invoices on weekends, outside work hours, rounded invoices, duplicated or overpaid (or underpaid) invoices, foreign high-risk invoices, and those outside Benford’s Law tolerances.
  • TFN or ABN failing ATO checksum, repeated or consecutive characters, incorrect lengths and containing alpha.
  • Employees and Supplier bank account matches, overpaid salaries, duplicated expenses and terminated employees paid.

Outcomes

  • Analyse all your data; not just sample testing.
  • Highlighting recoverable savings including duplicate invoices and financial leakage through fraud, overpayments, GST, etc.
  • Automated alerts and monitoring when solution is deployed.
  • Handle large volumes of data with scalability & performance.
  • Perform super-human levels of analysis and decision making.
  • Identify areas for controls, training and process improvement.
  • Identify potential fraud (ghost employees, fictitious entities, conflict of interest, invoice splitting and more) whilst using a third party to eliminate the risk of internal data manipulation.
  • Supplier rationalisation and analysis.
  • Verification of entitlements including super and leave.
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