Paidanalytix
Year on year companies with large number of payments (above 50.000 transactions), loose up to 1% of their payables due to various errors, without even knowing. These means that a company paying 100 millions looses up to 1 million. Most common errors are duplicate payments, over-payments and under deductions, especially for companies with large number of transactions. They can not be entirely eliminated by typical controls.
64% of companies still rely on manual controls to identify errors in their payments which leads to errors being missed and high operation effort. Complex payment processes and low digitalization levels are the main factors that drive the leakage rate.
Traditional process cause too many false errors, they don’t take into account the business context, they leave money on the table as they don’t cover enough and they require a high operational effort. Our mission is to help companies better control their payments processed by leveraging Machine Learning technology.
With conventional tools and controls companies spend on average 3 to 4 hours per day to look through thousands of transactions to find few errors. This brings high risk and high effort. Our unique AI platform helps companies through it unique prediction model to discover the true errors with 50% less effort for detection, correction and reporting, at a higher detection rate – 30% more accurate. On average we reduce the effort of our clients by 40% day 1.
More, our clients save on average up to 500.000 EUR per year using our solution. With continuous use of the platform the AI model is adjusting to each clients own business context.
Analytix is a solution that harnesses the power of artificial intelligence to make your payments process more secure. Our solution combines our operational expertise of more than 20 years in payable processes with the power of artificial intelligence.
How it works
Data integration and consolidation – we are consolidating the customer’s data both quantitative and qualitative. Our solution can process different types of files with the possibility to customize the structure.
Business context integration – we offer the possibility to add new criterias or to create new modules based on the business needs of our clients.
Machine learning algorithm – our ML engine processes the data and provides outcomes with a significant higher accuracy.
Review of result – the visualization of the outcome is customized to ensure maximum efficiency of the analysis.
Reporting – we propose to our customers a set of KPI’s for visualising the added value of using our solution, also we give them insights on their own process.
Contact Person: Radu Fertonea, radu.fertonea@paidanalytix.com / 0754 073 615