Protect purchasing and accounts payable functions against high-risk external vendors. Optimize process performance to provide your organization with the supplies it needs to function. Make sure your existing and potential vendors have a positive experience. Leverage your data to eliminate errors, close information gaps, and improve your vendor master file. ThirdLine's Vendors Audit Intelligence features 19 built-in audit analytics + interactive dashboards for continuous monitoring and analysis.
Your organization depends on vendors to function. Big or small, national or local, all vendors present a common risk: They do business outside your organization, so there is a basic lack of control. Leveraging your vendor data will help your organization identify fraudulent vendors, simplify vendor master file management, and optimize process performance by eliminating errors and closing information gaps.
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.