Data Ignition 4.0 tracks duplicate invoices
Selera Labs, an Australian enterprise data analytics startup that got its start on campus at the University of Wollongong, has announced the 4.0 release of its Data Ignition Duplicate Invoice software.
Selera Labs CEO Dr Michael Lawler said “Our 4.0 release is a game changer. The accuracy of our new approach to detecting exceptions is changing the way large organisations handle these challenges. Our global partners in the finance sector have hailed this as the most sophisticated solution they’ve seen.”
Selera Labs says the Data Ignition platform enables the detection of more duplicate invoice transactions while dramatically reducing the amount of false positive noise compared to legacy approaches by other competitors.
Selera Labs specialises in ERP Data Monitoring, Data Compliance and Data Quality solutions for ERPs like SAP, Oracle, JD Edwards and PeopleSoft. The solutions monitor 100% of an organisation’s financial data and analyse it across a sophisticated library of business rules, alerting them to any exceptions and allowing them to action it before the issue can have any significant business impact.
The Duplicate Invoice software provides a simple, low-friction, low-impact tool to continuously monitor 100% of an organization’s Accounts/Payable invoicing transactions. The solution identifies potential duplicate invoices via email alerts, eliminates duplicate payments and prevents cash leaving the business. Enterprises can verify controls hourly or daily, instead of retrospectively by quarter or annually.
Research by the Institute of Management and Administration shows that duplicate invoices can cost businesses over $100,000 for every $10 million of spend.
Selera’s Data Ignition Duplicate Invoice Detection module allows you to eliminate this “after-the-fact” effort by proactively identifying and blocking duplicate invoices, before they are processed for payment.
Selera Labs clients include marquee brands such as Coca-Cola, BlueScope Steel, One Steel/Arrium and Federal Government offices such as The Department of Immigration and Border Protection.
Dr Lawler added “Large organisations find our solution very attractive – they can be up and running very quickly, and its accuracy provides compelling cost savings and business value from day one.”