Eliminating vendor-related exposures

As organizations increasingly rely on a growing network of vendors, the complexity of related financial processes also increases—as does the risk of damage from unchecked exposures.

In this use case, discover how you can eliminate these exposures and prevent financial loss.

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The high cost of exposure

Vendor-related process violations often go unnoticed by incumbent vendor risk management platforms—until it’s too late. Without real-time detection and action, even minor issues  can quickly escalate, resulting in costly consequences that no organization can afford.

Immediate 
financial loss

High penalties
from regulators

Damage to
stakeholder trust

Why vendor-related fraud is so hard to prevent

These financial processes are vulnerable by nature. People make mistakes. Even well-intentioned employees sometimes bypass procedures to get things done faster. And internal and external actors are constantly finding new and sophisticated ways to exploit gaps and commit fraud.

Human Error

The costs of mistakes can be significant. For example, creating multiple records for the same entity will result in costly duplicate payments.

Non-compliance

Even unintentional deviations from protocols—like overriding payment approvals—can leave your organization at risk.

Fraud

When vendor processes  are targeted, such as during  a fraudster’s request for an advanced vendor payment, losses can be in the millions.

Eliminate integrity

exposure with Datricks

The Datricks Financial Integrity Platform is much more than a vendor risk management platform. It delivers autonomous, real-time control over financial operations, empowering finance teams to proactively eliminate vendor-related exposures.

Autonomous Process Discovery

Without needing any input, Datricks automatically and continuously analyzes your financial processes in order to understand your business context.

Integrity Exposure Detection

Problems are identified across all business data and analyzed by our AI in the context of their financial processes in real time.

Integrity Intelligence

CFOs get a comprehensive control tower to understand the overall health of their organizations. Furthermore, they can see how they stack up against others in the industry.

The Datricks advantage

No more losing time, money, and trust with after-the-fact exposure handling. With the Datricks Financial Integrity Platform, finance teams can control every process and transaction proactively and in real time—stopping the damage before it’s done.

Focus auditor efforts

on the most problematic issues, instead of randomly sampling data.

Pinpoint what matters

regarding issues in business processes, based on value amount and entity sensitivity.

Recover lost funds

from duplicate payments, pay terms manipulation, maverick spending, and more.

Build more trust

in your financial operations by ensuring you never miss anything that matters.

Industries we serve

The Datricks Financial Integrity Platform is designed to help organizations across a diverse range of industries to gain autonomous, real-time control over financial operations, eliminate exposures, and ensure Financial Integrity.