What is Risk Intelligent Inspect
Around the globe, companies are experiencing an ever-increasing risk of financial misstatements due to error or fraud. And for financial professionals, there is nothing worse than not having confidence in your resulting financial statements. However, today, Artificial Intelligence is playing a powerful role in analyzing financial data, identifying insights and ultimately removing risks in your balance sheet as far down as each individual transaction, quickly strengthening the validity of all resulting financial reports.
Risk Intelligent Inspect™ powered by MindBridge Ai uses Financial Controls AI, a type of Artificial Intelligence developed specifically for the complex needs of the office of finance, to identify errors and anomalies in financial data. Now, as part of your financial close process and well before any audits, it’s possible to clearly identify and quickly address transaction errors and anomalies before they become a permanent part of your company’s financial records.
Risk Intelligent Inspect Capabilities:
- Analyzes 100% of your datasets, such as General Ledger transactions, in minutes using Financial Controls AI
- Identifies risk in seconds with no algorithm scripting or training required
- Performs in-depth assessments of risk, such as fraudulent transactions and manual adjustments, all the way down to the transaction level
- Offers customizable materiality thresholds
- Controls validation and identification of opportunities for improvement
- Contains easy-to-understand risk ratings with directly accessible supporting analysis
- Provides insights and analysis that provide additional value over time
Benefits and Details
Risk Intelligent Insect is connected to your data in order to quickly analyze each account to provide a risk rating while providing visibility into the underlying controls and data that underpins that evaluation to provide transparency and visibility.
Risk Intelligent Inspect offers visualizations and details for 20+ Financial Controls AI, including risks, financial trending and ratio analysis. Ultimately, this enables you to improve your understanding of your financial data and reduce risk by finding items for a human to identify in the “big data.”