Procurement Fraud Detection

Key Features

• Anomaly Detection: AI-driven identification of abnormal spending patterns and transaction behavior
• Supplier Risk Scoring: Evaluate vendors based on historical data, risk indicators, and red flags
• Contract Compliance Monitoring: Detect deviations from pricing, quantities, or contract terms
• Duplicate Invoice Detection: Eliminate double payments and fraudulent invoicing
• ERP & Procurement Integration: Connect seamlessly with SAP, Oracle, Coupa, and custom systems
• Audit Trail Logging: Maintain traceable logs of all flagged actions and user decisions
• Real-time Alerts: Immediate notifications on suspicious procurement activities

Use Cases

• Identify and block fake vendors or shell companies
• Detect duplicate invoices or inflated billing amounts
• Monitor maverick buying and contract breaches
• Prevent insider collusion or kickback schemes
• Enable forensic audits and post-transaction analysis

Benefits

• Reduced Financial Losses through early detection of fraud
• Increased Transparency across procurement and vendor ecosystems
• Improved Compliance with regulatory and audit requirements
• Faster Investigations via automated risk scoring and traceability
• Enhanced Vendor Governance and risk management

Powered by Kriatix.ai

This solution is built on Kriatix.ai, our low-code AI platform designed for rapid deployment and enterprise customization. Tailor fraud detection models to your industry, workflow, and compliance requirements with ease.

Deployment Options

• SaaS (hosted by GoodWorkLabs)
• On-Premise (for finance, government, or regulated sectors)
• Hybrid (custom integrations via API or secure gateway)

Get Started

Take control of procurement fraud. Schedule a custom demo or request a pilot deployment tailored to your risk profile.
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