Duplicate and payment in error represent 2-5 percent of the total spend in most organizations. If your spend in a typical year is $500,000,000 then the possible waste is $10,000,000 to $50,000,000.
There are AI produces on the market now that can eliminate 95 percent of these losses.
The implementation of these comprehensive AI processing cloud solutions will always present a positive cash flow from the implementation of the tool. Beyond flagging suspicious activity, possible errors, potential waste, and red flags of fraudulent activity, AI can help with detection across spend systems.
Join us at one of the
events Detecting Fraud Using AI in Procure to Pay - 2 CPEs to get an overview of how to proceed.