Identified over $16 million in working capital improvements and cost recoveries, since 2022.
A Fortune 500 automotive company with world-wide supply of systems and components was looking to improve its supply chain transparency into their procure-to-pay (Vendor) process. In addition, they wanted to automate certain continuous audit controls, with a specific focus on contract compliance, working capital improvement, and cost savings.
A monthly monitoring program was put in place using konaAI’s Vendor 360 and Employee 360 platforms. On a quarterly basis, the entire procure-to-pay module was processed out of SAP through a library of over 100 supply chain tests.
Working with the Chief Compliance Officer and General Counsel, konaAI’s Vendor 360 module was utilized in extracting and evaluating over $20 billion payments data with all the payments and supply chain data being subject to 100+ tests and behavioral algorithms.
Examples of some tests conducted:
Unit pricing variance analysis
To identify multiple pricing discrepancies across the same vendor on same product/material
Payment terms discrepancy
To identify inconsistent payment terms across vendors
A monthly monitoring program was put in place using konaAI’s Vendor 360 and Employee 360 platforms. On a quarterly basis, the entire procure-to-pay module was processed out of SAP through a library of over 100 supply chain tests.
konaAI’s internal audit and continuous monitoring helped identify several instances of fraud and abuse such as:
Over the years konaAI has supported multiple internal investigations and is now a part of the company’s effective fraud risk management.
Discover how konaAI can help you identify and reduce risk while showcasing the effectiveness of your monitoring, auditing, and investigations programs.
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