Learn how ThinkRisk helped Arcelor Mittal increase assurance and transform their SOX/audit process.
Monitoring and controlling general ledger entries enables our customers to maintain a streamlined close process by proactively highlighting potential control failures and fraud at a transactional level, applying these insights to efficiently address and mitigate financial risk.
Analyze all your
Using AI and ML, the platform audits every AP transaction to identify potential anomalies, outliers and erroneous entries such as duplicate payments, out-of-cycle payments, grouping and allocation.
Identify fraudulent payments and expenses
Transaction analysis provides details of expenditures, enabling controllers and auditors to perform a detailed review, understand root-cause of the misappropriation and collaborate with team members to mitigate the findings.
Insights into your expenditures
Analytical insights of AP transactions for a given period across financial statements enables in-the-moment identification of exceptions and outliers that impact the balance sheet. Our AP Module ultimately helps customers detect and prevent financial misstatements, significant deficiencies, and material weaknesses.
Improving the quality of internal controls
ThinkRisk provides necessary visibility to improve internal controls, recognize payables abnormalities, unusual buying patterns, and investigate suspicious vendor activities. We supply our customers with an end-to-end transactional traceability solution and the tools to monitor the full procure-to-pay process.