Record to Report Suite

Anomaly Management

AI/ML-powered Anomaly management to proactively identify errors and omissions in the source ERP data.

Transition to a continuous close by resolving 80% anomalies.

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AI-Based Credit Management Software
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Anomaly Management Datasheet
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Key Modules

AI-based E-Mail Remittance Capture

Anomaly Detection

AI-Powered Alerts For Potential Anomalies. AI-based algorithm to identify errors and omissions in source data based on historic data patterns. More

AI-based E-Mail Remittance Capture

Anomaly Resolution

Worklists, Workflows, and Suggestive Actions. Assign anomalies, review suggestions and perform corrective actions on source data for a continuous close. More

AI-based E-Mail Remittance Capture

Anomaly Progress Dashboard

Clear Visibility of All Anomaly Tasks. Get an overview of anomalies detected, resolved and corrected with customizable out-of-the-box reports and dashboard. More

Additional Modules | Pricing Deductions Research Automation | Shortage Deductions Research Automation

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PRODUCT

Key-points

  • Anomaly Detection
  • Anomaly Resolution
  • Anomaly Progress Dashboards

VALUE

Improve Operational KPIs

  • 80% Anomalies Resolved
  • 70% Anomalies Closed
  • 30% Anomalies Ignored

Deliver Business Outcomes

  • 50% Improved Reconciliation Productivity
  • 30% Reduction in Days to Close
  • 30% Reduction in Days to Reconcile

Key Modules

  • Anomaly Detection
  • Anomaly Resolution
  • Anomaly Progress Dashboards

Improve Operational KPIs

  • 80% Anomalies Resolved
  • 70% Anomalies Closed
  • 30% Anomalies Ignored

Deliver Business Outcomes

  • 50% Improved Reconciliation Productivity
  • 30% Reduction in Days to Close
  • 30% Reduction in Days to Reconcile

HighRadius Vs. The Competition

Anomaly Management Software Feature Comparison

HighRadius ERP Vendors(e.g. SAP, Oracle) Niche Players(e.g. Blackline, FloQast, Trintech) Niche Players(e.g. Esker, Billtrust) Niche Players(e.g. Esker, Billtrust)

Anomaly Detection

  • AI-based anomaly detection
  • Tailored anomaly detection algorithms

Anomaly Resolution

  • Automated anomaly resolution recommendations
  • Maker checker workflow

Anomaly Progress Dashboard

  • Out-of-the-box reports
  • Self serve analytics

Advanced Dunning

  • Bulk correspondences with customizable templates
  • Smart payment links within emails

Disclaimer: Feature comparison is based on each vendor’s most recent and modern version available as of February 1st, 2024. Information is based on data collected from public websites and forums, analyst papers, and product datasheets as of February 1st, 2024.

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One AI-Powered Platform For All Accounting Roles

Accounting Managers

Say bye to data mismanagement, human errors, and accounting omissions to bring in trust, compliance, and consistency to your reporting.
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Controllers

With seamless communication on an integrated platform, get complete visibility on the status of your month-end close and reconciliation processes. Read More

CFOs and CAOs

With hyperdata centralization and automation, say bye to manual and time-intensive data processing tasks across your accounting processes.
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HighRadius Anomaly Management Software Overview

Collections Flow Diagram

Recommended Resources

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[Excel Template] Anomaly Management Dashboard

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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Product Tour

Get a guided tour of the HighRadius financial close management, account reconciliation, and anomaly management software.

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AI Demystified for Detecting Errors and Omissions in the Monthly Financial Close Process

Learn about the right approach to apply AI for validating account balance and transactions and the difference between 'rules' and 'algorithms.'

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FAQs: AI-Powered Anomaly Management & Detection Software

Does HighRadius anomaly management software integrate with ERPs?

HighRadius is an ERP agnostic software that seamlessly integrates with all major ERPs like SAP, Microsoft Dynamics 365, Oracle, NetSuite, Sage Intacct, Workday, etc.

How much time does it take to implement HighRadius anomaly management software?

HighRadius' industry-defining Speed to Value methodology ensures faster time to implementation and quicker ROI (in 3 to 6 months).

What kinds of anomalies does HighRadius anomaly detection software flag?

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.

Does HighRadius anomaly management software integrate with banks?

We partner with banks and financial institutions to automatically capture payment information from all the industry-standard bank payment files and formats.

What role does AI play in anomaly detection?

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.

How does HighRadius’ AI-powered anomaly detection software help in the financial close process?

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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