Stop errors and fraud before they are processed, find risk quickly, pay the bills faster, and maintain positive vendor relationships.
Test Drive →Stop erroneous or fraudulent AP transactions before they are processed. Pay the bills faster and maintain positive vendor relationships. Identify high-risk invoices and payments, employees, approvers, departments, and vendors. ThirdLine's Accounts Payable Audit Intelligence features 55+ built-in audit analytics + interactive dashboards for continuous monitoring and analysis.
AP Risk & Internal Controls
Your Accounts Payable (AP) is more or less sound when you can pay the bills in a timely manner. Inefficiencies in your AP process can lead to payment delays and soured vendor relationships. Erroneous or fraudulent transactions can lead to cash leakage. The best way to mitigate risk and waste is greater visibility into your AP process, which produces large volumes of data. Leverage data analytics to drive better AP outcomes.
Understand Risks with Audit Analytics
Enterprise Resource Planning systems capture massive amounts of data within your municipality in real time. Automating your ERP data (e.g. data analytics) will allow you to quickly identify and understand risks occurring in your organization and use it to make changes and adjustments for an optimized process and improved performance.
Data analytics are written to track transactions as they move through the ERP workflow. Each analytic is asking a question of transaction. If the transaction meets the criteria, the analytic will flag the transaction. A single transaction could be flagged by multiple analytics.
Examples of AP Analytics
1. Invoice with No PO
- Step: Invoice Entry
- Description: Flags if an invoice was entered without purchase order information.
- Use Case: Validate invoice; target training or control step
2. Days to Payment Over 30
- Step: Pay File Creation
- Description: Flags if an invoice has not been paid within 30 days.
- Use Case: Escalate invoice to expedite payment.
3. Modification by Non-AP Staff
- Step: Invoice Modification
- Description: Flags if an invoice was modified by an employee outside of Accounts Payable.
- Use Case: Recommend segregation of duties.
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We are ready to help integrate our monitoring platform into your state and local government ERP system.
