Procurement Fraud Detection
Key Features
- Anomaly Detection: AI-driven identification of abnormal spending patterns and transaction behavior
- Supplier Risk Scoring: Evaluate vendors based on historical data, risk indicators, and red flags
- Contract Compliance Monitoring: Detect deviations from pricing, quantities, or contract terms
- Duplicate Invoice Detection: Eliminate double payments and fraudulent invoicing
- ERP & Procurement Integration: Connect seamlessly with SAP, Oracle, Coupa, and custom systems
- Audit Trail Logging: Maintain traceable logs of all flagged actions and user decisions
- Real-time Alerts: Immediate notifications on suspicious procurement activities
Use Cases
- Identify and block fake vendors or shell companies
- Detect duplicate invoices or inflated billing amounts
- Monitor maverick buying and contract breaches
- Prevent insider collusion or kickback schemes
- Enable forensic audits and post-transaction analysis
Benefits
- Reduced Financial Losses through early detection of fraud
- Increased Transparency across procurement and vendor ecosystems
- Improved Compliance with regulatory and audit requirements
- Faster Investigations via automated risk scoring and traceability
- Enhanced Vendor Governance and risk management
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Deployment Options
- SaaS (hosted by GoodWorkLabs)
- On-Premise (for finance, government, or regulated sectors)
- Hybrid (custom integrations via API or secure gateway)
Get Started
Take control of procurement fraud. Schedule a custom demo or request a pilot deployment tailored to your risk profile.
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