Improved compliance and better investigation by proactive detection of fraud and fund leakage
The procure to pay process within Accounts Payable (AP) is a key finance process that impacts enterprise profitability. With a combination of Wipro HOLMES™ Machine Learning on Amazon Web Services (AWS) Cloud, Wipro HOLMES™ Machine Learning (ML) for Accounts Payable (AP) Auditor is a turnkey solution. It is offered as a managed service that enables pre-emptive detection of anomalies across the accounts payable process. Anomalies such as duplicate or excess payments, possible maker-checker collusion, payments to shell vendors, suspicious vendor invoices etc. can be identified and flagged. ML for AP Auditor has pre-built models for rapid deployment and easily integrates with ERP systems and Business Intelligence systems. It is a scalable platform built on AWS Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) to enable self-learning. ML for AP Auditor offers an end to end solution from detection to reporting process.