CaaS: A multifaceted solution
CaaS cleanses data from disparate expense-management systems, then centralizes it to review 100% of transactions and check for anomalies in near-real time. It applies AI-driven customized algorithms to review regulatory, fraud, and policy compliance. It can also analyze multilingual T&E data sets.
Our solution syndicates data from internal and external sources through a proprietary keyword search list. And it accesses Specially Designated National, Office of Foreign Assets Control, and politically exposed person lists, among others, to identify noncompliant and fraudulent transactions. The CaaS solution starts working from the moment an employee submits an expense, conducting prepayment analytics and sending exceptions for auditor review. When an expense request is approved, the system authorizes payment. It also conducts a post-payment review of all submissions to identify spend patterns, perform root-cause analysis of issues, and define improvement actions.
By cross-checking expenses and receipts and using thousands of online sources, our AI engine extracts key pieces of information from each claim employees submit. That way it finds duplicates, draws attention to out-of-policy spending, highlights noncompliant or excessive spend, and exposes suspicious merchants.
The solution's features include:
- Real-time reviews of 100% of expenses to proactively avoid regulatory violations and sharpen fraud detection
- Application of AI, ML, machine vision, and language neutralization to make the solution future-ready
- A system that detects, dissects, and flags exceptions across policy, regulatory, and fraud-risk areas
- Root-cause analysis and actions tracking by a team of risk and compliance experts to enhance compliance and improve employee spend behavior
- Interactive dashboards to drive increased visibility of global, regional, and out-of-policy spend