Enhance financial close accuracy with advanced anomaly detection automation

Achieve 100% accurate financial reporting

HighRadius’ AI-powered anomaly detection software streamlines identification of errors and omissions, ensuring a smooth and accurate financial close process.

Trusted By 1000+ Finance Teams Globally

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Discover the HighRadius Automated Anomaly Detection Advantage

Our software automates the extraction of data from both ERP and non-ERP systems to flagging potential anomalies by analyzing historical patterns. Benefit from a continuously evolving system that reduces false positives over time, helping you accelerate your close process.

Missed GL Posting Identification

Incorrect GL Posting Identification

Advanced Anomaly Listing

Self-Learning System

Streamline Compliance and Enhance Financial Integrity with Automated Anomaly Detection

Leverage AI-powered automated anomaly detection to identify missed and incorrect GL postings, streamline your financial close, and stay compliant with regulatory standards..

AI-based identification of missed and incorrect GL postings

Resolving 80% anomalies

Leverage machine learning to get automated suggestions for reclassifying transactions to the correct accounts.
Analyze 12-18 months of historical data to automatically identify GL transaction patterns and flag potential issues.
Receive AI-based alerts for missed postings and potential duplicate entries, minimizing financial discrepancies.

Self-learning system based on user feedback

30% anomalies ignored

Improve accuracy of the AI engine by opting to "ignore" certain omissions.
Improve the accuracy and reduce false positives by ignoring or accepting anomalies.
Leverage an automated feedback loop to reduce false positives over time.

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Proactive anomaly management

Easily view marked anomalies

Identify the category of each anomaly as either error or omission.
Classify anomalies based on their risk profile—high, medium, or low—to prioritize actions accordingly.
Gain insights on the accuracy and monetary impact of anomalies detected

Pre-built integration for seamless data ingestion

Automate data extraction

Integrate with all the major ERPs
Integrate with non-ERP systems such as banks and payroll providers.
Automatically import general ledger data and data across multiple systems.

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Out-of-the-box reports

Track each anomaly

Define multi-level review and approval workflow for anomalies.
Segregate duties to ensure accuracy during the transaction matching process.
Keep track of all anomalies and adjusting journal entries.

See advanced anomaly detection automation in action

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Within 6 Months, Our Anomaly Detection Software Delivers

Here’s how HighRadius advanced automated anomaly detection software is transforming finance operations. Say goodbye to - inefficient financial close processes and experience streamlined, audit-ready operations powered by AI automation.

80%

Anomaly Resolution

70%

Anomalies Closed

100%

Financial Reporting Accuracy

See HighRadius in Action

Our automated anomaly detection software seamlessly integrates with your finance stack, enabling frictionless and faster reconciliation.

HighRadius focuses on building solid partnerships and offers robust integration capabilities to improve anomaly detection.

Ready to automate your anomaly detection process?

Implement a one-of-its-kind anomaly detection solution to enhance financial integrity and safeguard your business from undetected errors and potential legal liabilities. Improve your financial reporting accuracy today with HighRadius’ automated anomaly detection solution!

Talk To Our Experts

FAQS

What is automated anomaly detection?

Automated anomaly detection facilitates the detection of wrongly recorded transactions in the finance and accounting industry. It automates the process of detecting errors or omissions in financial information by leveraging technologies such as AI and ML.

These software are capable of enhanced data integration and use historic data to detect transactions that are wrongly recorded or any transactions that have been mistakenly omitted.

What are the benefits of automated anomaly detection?

Automated anomaly detection offers benefits such as enhanced financial accuracy, audit and compliance readiness, and improved anomaly identification and resolution. With automatic anomaly detection, it’s easy for accountants to review large datasets for any errors and accelerate the financial close process.

In addition, automating the anomaly detection process results in cost savings for businesses by detecting errors and omissions early, allowing proactive resolution. There are fewer financial and regulatory repercussions for companies due to early detection and resolution of anomalies.

Why should businesses opt for automated anomaly detection software?

Businesses should adopt automated anomaly detection for increasing financial reporting accuracy, enhancing risk mitigation and fraud prevention, and real-time monitoring of financial information. Automated anomaly detection also ensures that businesses are always audit and compliance ready.

These softwares are capable of analyzing large datasets and finding out any sort of anomalies in real-time. Businesses can save costs through early anomaly detection and improve strategic financial decision-making.

How does automatic anomaly detection work?

Automatic anomaly detection leverages technologies like artificial intelligence and machine learning to analyze datasets and detect patterns based on historical data. When the system detects deviations from the norm, it flags the same as an anomaly for the accountant to check.

With advanced data integration capabilities, the software collects data and then leverages pattern recognition and anomaly detection algorithms to identify erroneous transactions or omitted transactions.