Download this template to manage and assign your accounting anomaly tasks along with recording evidence for the resolution of errors and omissions.
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Get a guided tour of the HighRadius financial close management, account reconciliation, and anomaly management software.
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Learn about the right approach to apply AI for validating account balance and transactions and the difference between 'rules' and 'algorithms.'
Download the EbookHighRadius is an ERP agnostic software that seamlessly integrates with all major ERPs like SAP, Microsoft Dynamics 365, Oracle, NetSuite, Sage Intacct, Workday, etc.
HighRadius' industry-defining Speed to Value methodology ensures faster time to implementation and quicker ROI (in 3 to 6 months).
HighRadius flags 10 types of errors and 2 types of omissions that accounting teams commonly find during reconciliation and financial close. Some examples are discrepancies in ledgers, unbalanced accounts, missing entries, and irregular transaction patterns.
We partner with banks and financial institutions to automatically capture payment information from all the industry-standard bank payment files and formats.
AI plays a crucial role in anomaly detection by using advanced algorithms and machine learning to identify irregular patterns and outliers in data. It enhances the precision and speed of detecting anomalies, reduces false positives, and adapts to new patterns over time.
HighRadius’ AI-based algorithms extract 12 to 18 months of historical data from your ERP and analyze it to identify patterns. If some transactions don’t fit the patterns, they are flagged as anomalies in worklists along with suggestive actions to resolve them. AI-powered detection significantly speeds up the close process and improves the accuracy of the financial reports.
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