Mastering your Masterfile
How often do you think about ongoing checks on your vendor status, after vendor creation in your system? Most organisations place great emphasis on ensuring their transactional data is correct.…
Automated Monitoring of Accounts Payable Transactions and Master File Data
Automate monitoring of your Accounts Payable Process and stop what is slipping through the cracks.
Errors and Fraud in your Accounts Payable process typically result in annual losses of 1% – 5% of revenue
Companies can lose between 1%-5% of annual revenue due to errors and fraud across their accounts payable processes. Whilst Enterprise Resource Planning (ERP) systems can provide many of the needed controls, these are often not adequate or poorly implemented to provide the assurance required for peace of mind.
Nothing Slips By
Eliminate the need for accounts payable manual checks and catch what’s slipping through the cracks in real-time.
Achieve 100% confidence in your master file data, and reduce errors and fraud risks.
Gain efficiencies and insights that can identify business improvement opportunities.
The Satori Solution
Satori is a Software as a Service that offers automated, continuous monitoring over all accounts payable transactions and vendor master files.
The Solution’s workflow manages exception output to ensure follow-up in a timely manner by the team or the person of responsibility. Each exception is investigated and closed out with a defined issue, action, and root cause.
Satori’s Dashboards provide management with real-time visibility on what issues are occurring and their root causes, enabling opportunities for process improvements.
Satori for every Accounts Payable scenario
Accounts Payable Monitoring
- Duplicate invoices using multiple combinations
- Open invoices
- Open credits – Credits not set off against future supplier invoices can sit in the system for months or years and potentially never be recovered
- Unusual invoice processing activity
- Potential false invoices
- Segregation of duty checks
Vendor Master
- Duplicate vendors using multiple combinations
- Missing/incorrect vendor info
- Incorrect vendor registration details
- Dormant vendors
- One-time vendors
GST/VAT/TAX
- GST/VAT discrepancies
- Invoices with GST/VAT for vendors not registered
- Invoices with no GST/VAT for vendors correctly registered
Purchase Orders
- Purchase limits check
- Split Pos
- Unauthorised POs
- PO date after invoice date
- Two/three-way matching
- Segregation of duty checks
”Without Satori we would be 5 years behind on compliance framework activities, controls process maturity and internal policy compliance.
Large Retail & Hiring BusinessCommercial Process & Compliance Manager
What’s included
Performance Reports
High-level system performance and identification of areas for control, policy or process improvement summary.
Environment
The Satori solution includes server, software, installation, and maintenance of software.
Implementation
Implementation of initial tests with configuration of your workflow and visualisation.
User Training & Management
Best practice end-user training to close exceptions and operation of the solution.
Daily Health & Admin
Satori’s experts act as a System Admin Manager and provide daily health checks on your server and data loads.
Ongoing Refinements
We work with you on an ongoing basis to refine your tests, ensuring the exceptions are delivering the required outcome.
Executive Dashboards
A realtime overview of what exceptions have occurred, what has been followed up and what is potentially overdue.
Additional Tests
We work with you on data quality improvements and new tests to increase coverage or cover gaps on controls.
Local Support
The Satori Customer Success and Support team are APAC based providing support even through holiday seasons.
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