Business invoice fraud is significantly increasing. Statistics show that business have lost £93 million to invoice fraud to date, with SMEs losing an average of £28,000 in invoice fraud attacks. Check an Invoice is a touchless document processing platform which takes data from supplier invoices through an AI-driven detection engine to eliminate the risk of this fraud.
The platform also includes a digital mailroom, an auto-matching facility to reconcile invoices with purchase orders and payment records, and simple integration with ERP systems for automatic uploading of digital copies. This reduces document processing costs by up to 50%.
The Check an Invoice platform is specifically built and designed for small and large businesses and is customisable to suit each company's unique needs. It is fully PCI DSS Level 1 compliant to ensure the highest level of security for customer data.
By speeding up document processing, Check an Invoice increases efficiency for accounts payable teams in any type of organisation.
Automated transaction processing and fraud detection supports banks in reducing the risk of financial loss.
SHARED SERVICES COMPANIES
Shared services companies reduce their processing and operating costs by automating invoice processing and administration. Reducing risk of fraud also maintains high levels of customer service and prevents damage to reputation.