Case study #1 - Identifying Duplicate Payments using AI

Case study #1 -
Identifying Duplicate Payments in Accounts Payable Transactions using AI

 

It is well documented that organisations make errors in the range of 0.1-0.5% of accounts payable transactions. Their AP systems are not able to prevent all errors. Wasted money goes to suppliers for no service or material in return.

Fusion Consulting was challenged to apply artificial intelligence and data analytics to identify duplicate payments made by a national health organisation. Based on artificial intelligence and data analytics developed in the USA by our partner, Fusion was able to consume sixteen quarters of accounts payable transactions. The scale of the data was significant with over 2 million records and a total amount in excess of 2 billion dollars.

Fusion applied a simple approach of loading the AP data sets and processing the analytics such that different search scenarios resulted in various duplicate payment sets.The client then reviewed the results and approached their suppliers for credit notes.

The client paid for the service fee many times over with the total credit notes they redeemed from their suppliers. The service is simple, takes no time to process and pays for itself. 

 

  • Bathurst Resources

    The team at Fusion successfully assisted Bathurst in selecting and implementing a new ERP for its coal business. The excellent technical support and project management supplied by Nick and the team led to the project being awarded “implementation of the year” by the ERP vendor
    – Tim Manners, CFO
  • Panoramic Resources

    Fusion Consulting were engaged to define our requirements and to manage a comprehensive review for a “fit-for-purpose” integrated management platform (HSEQ, Risk, Doc Mgmt, Project and Contractor Mgmt). They were completely independent and led a great process. Great job Nick and team.
    - Trevor Eton, CFO
  • Parkerville

    Nick Gray and his team were very good to work with and I believe that we benefitted greatly from their involvement with us. Their work displayed a good combination of the industry knowledge and expertise that we needed with a sound appreciation of the organisation’s concerns and operating environment.
    - Warren Green, Director Corporate Services
  • St George Bank

    Nick and Fusion team have done a very good job in the Change space and their involvement has been a key factor in the overall success of the changes we have implemented in Asgard
    - Ross Anderson, Enterprise AML/CTF Program Business Leader
  • 1
  • 2
  • 3
  • 4