Learn how ThinkRisk helped Arcelor Mittal increase assurance and transform their SOX/audit process.

Monitoring and controlling financial entries regularly in the general ledger helps the business have a smooth financial close and highlights the potential control failures and frauds at the transaction level, assisting organizations to mitigate these risks in advance and formulating controls to minimize uncertainty.

Analyze all your
Accounts Payable
transactions

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 spend

Transaction analysis provides details of spend activity, enabling controllers and auditors to perform a detailed review, understand the root cause of the misappropriation and collaborate with team members to mitigate the problem.

Insights into your
spend activity

Analytical insights of AP transactions for a given period across financial statements and highlighting the exceptions and outliers that impact the balance help detect and prevent financial misstatements, significant deficiencies, and material weakness.

Improving the quality
of internal controls

ThinkRisk gives you the visibility needed to improve internal controls, abnormalities in your payables, unusual buying patterns, and vendor behaviours with an end to end transaction traceability of transaction through the procure-to-pay process.

Learn how ThinkRisk helped Arcelor Mittal increase assurance and transform their SOX/audit process.

Monitoring and controlling financial entries regularly in the general ledger helps the business have a smooth financial close and highlights the potential control failures and frauds at the transaction level, assisting organizations to mitigate these risks in advance and formulating controls to minimize uncertainty.

Analyze all your
accounting entries

Gain better visibility of your accounting entries and identify those that create financial risks that are often overlooked or undetected. ThinkRisk analyzes 100% of your GL transactions and provides each transaction with a risk score which is further classified as high, medium and low based on the business context to help isolate transactions that genuinely matter.

Audit every transaction

Transaction analysis provides details of selected anomalies, enabling controllers and auditors to perform detailed reviews, understand the root cause of the misappropriation and collaborate with team members to mitigate the problem.

Insights into your
financial statements

ThinkRisk provides analytical insights into accounting entries’ movement for a given period across financial statements highlighting exceptions and outliers that impact the balance. It helps in detecting and preventing financial misstatements, significant deficiencies, and material weakness.

Improving the quality
of management review

Early detection of errors that typically go undetected helps management increase the quality of balance sheet account reviews. Controllers can identify potential risks in every balance sheet account by analyzing the anomalies and hence avoid the risk of misstatements at the time of a financial close and enhance the overall control environment.

Enhancing Financial
Outcomes

Organisations gain significant tangible value from improvements in the close process through efficiency and better risk identification. Also, effective close processes help CFOs have more confidence in their numbers, better decision-making, and upskilling the finance teams.

Learn how ThinkRisk helped Arcelor Mittal increase assurance and transform their SOX/audit process.

Monitoring and controlling the behaviour of employees using corporate credit cards is one of the significant risks in T&E. ThinkRisk evaluates 100% of employee credit card transactions to identify anomalies and risks which are not compliant with organizational travel policy, unusual behaviour and misappropriation in time for management to intervene with appropriate mitigating steps.

Analyze all
corporate credit card
transactions

ThinkRisk audits every single corporate credit card and payment card transactions using AI and ML to identify and learn potential anomalies, outliers, erroneous entries, and employee spend patterns to intervene and take the necessary action. These outcomes allow the management to spot one-off errors and risks that would have otherwise gone undetected.

Identify compliance
with travel and
expense policy

Transaction analysis provides details of spend activity that does not comply with the corporate travel and expense policy. ThinkRisk analyzes employee behavioural patterns to shape the guidelines based on the spend patterns and have specific training to help change employee behaviours.

Accelarate your T&E
audits

Analytical insights into the credit card movement and payment card transactions for a given period across the enterprise highlight the exceptions and outliers that impact the business, increase compliance and frees critical resource time to focus on the causes that matter.

Improving the quality
of internal controls

ThinkRisk gives you the visibility needed to improve internal controls, abnormalities in your spend, unusual buying patterns and employee behaviours with end-to-end transaction traceability.