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.