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AI-Powered Anomaly Detection To Catch Errors in Real-Time

No need to go looking for needles in the haystack - again and again. Get a scheduled list of errors and omissions to help you close faster

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AI-Based Credit Management Software

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Real-Time Anomaly Detection For Faster Close Cycles

Save time going through transactions to find errors and omissions with AI-based alerts for potential anomalies

AI-Powered Alerts For Potential Anomalies

  • Get alerts for potential errors and omissions based on AI capability to analyze data, establish patterns and identify deviations that could indicate an anomaly
  • Anomaly alerts are made available as worklists to help accountants' review them faster
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AI-Enabled Continuous Anomaly Management

  • Schedule the system to show potential anomalies for the week, month, or quarter to avoid the period-end chaos and have a minimal number of open items

Better Visibility of All Anomalies & Transactions

  • A single source of truth for all transactions and customized view of anomalies to enable keeping track of team's progress during each financial close cycle
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Frequently Asked Questions

Anomalies are classified as either errors or omissions. HighRadius detects 10 errors and 2 omission cases that are common for all organizations. For instance, when a business transaction recorded in a specific GL account shows up with a Vendor detail that is historically not posted for that GL account or an unexpected Transaction Type where a GL Transaction has been recorded in a GL Account with a Transaction Type that is not expected for that GL Account.

What are some challenges that accountants face for anomaly detection?

Identify errors and omissions in the General Ledger and Sub-Ledgers is a time-intensive task that is usually done in a hurry through the end of the period to close the books. Since they do it manually, accountants might miss some anomalies and consequently, the closing cycle gets extended.

What is anomaly detection software?

Anomaly detection software automates the process of finding and resolving anomalies by flagging potential anomalies automatically based on the past data of 12 to 18 months. Based on the action you take for an anomaly, it also learns and applies the same logic to the future anomalies.

AI automates the process of finding and resolving anomalies by flagging potential anomalies automatically based on the past data of 12 to 18 months. Based on the action you take for an anomaly, it also learns and applies the same logic to the future anomalies. For instance, if you 'ignore' a certain type of anomaly alert (false anomaly), it'll stop showing similar anomalies in the future to help you focus on the 'true' anomalies.

AI-powered software doesn't just detect and flag all potential anomalies - it also suggests actions, enables managers to create tasks and assign owners for timely resolution, and arms the team with the necessary information for compliance and audit.