Employees are spending more money across more spend categories using more payment methods than ever before. When employees accidentally violate the rules, or worse, commit outright fraud, the cost can be substantial and the company, as a whole, is exposed to unnecessary risk. Combating fraud is top of mind for financial managers (especially in the areas of treasury management, expense management, and accounts payable). Financial managers are fighting hard to reduce the threat of duplicate/fraudulent invoices, rogue spending, and other fraudulent activity.
Goals and Objectives
The goal is to use advanced technology like machine learning to find patterns to stay ahead of competitors and prevent bad actors from getting any advantage
Enterprise hardware, personal devices, cloud, Big Data and analytics, mobile, applications, business consulting, and cognitive technologies.
Use Case Summary
Machine learning/AI are used to monitor bank accounts, financial transactions, accounting invoices/purchase orders, and other financial documents and analyze the data to identify any potential fraudulent activity.