Overview

Medius Fraud & Risk Detection is an advanced software solution designed to combat invoice fraud and mitigate risks in accounts payable (AP) operations. By leveraging artificial intelligence (AI) and machine learning (ML), Medius provides greater visibility and control across the entire invoice-to-pay lifecycle. This software helps businesses detect anomalies, prevent fraud, and ensure secure transactions, safeguarding company funds and reputation.

Core Features

Keep eyes where they’re needed: on every invoice.

Medius’s AI-powered matching helps you make sure all invoice details align with a single source of truth, while options for segregation of duties and a 4-eyes principal help keep everyone to task on verifying information before any payment is made.

Put a spotlight on potential problems, before they’re an issue.

AI-detected, easy-to-spot risk factor icons help you find and mediate any potentially risky invoices in your inbox, with a concise summary of why they’ve been flagged and recommended actions to take. Handled risks are also visible for tracking through to the end of the invoice’s lifecycle.

Keep approvers on task with extra security measures.

Enabling an extra layer of scrutiny on invoice approvals – like step-up authentication, which requires a two-factor authentication for payments – can make sure that no payment is remitted until the invoice and supplier have been fully vetted and checked for fraud and risk.

Assess and measure your fraud prevention efforts.

In Fire Station, a single central hub for tracking fraud and risk, you can see all outstanding and handled risk factors across your transactions, helping you identify trends or anomalies and measure the success of your fraud prevention efforts.

Benefits

Enhanced security

Protect your business from fraudulent activities with cutting-edge fraud detection algorithms that monitor and analyze invoice data in real-time.

Improved accuracy

Reduce errors in invoice processing by automating data capture and validation, ensuring only legitimate invoices are approved for payment.

Cost savings

Minimize financial losses due to fraud and errors, and save time by reducing manual checks and reviews in your accounts payable processes.

Regulatory compliance

Stay compliant with industry regulations and standards, with detailed audit trails and reporting features.

Scalability

Easily handle increasing volumes of transactions without compromising on fraud detection accuracy or processing efficiency.