FINANCIAL SERVICES
Extend enterprise applications to achieve 100% invoice digitization, eliminate supplier fraud, connect all users and gain efficiencies.
The financial services sector continues to face growing SEC regulations enforcing strict supplier risk and data privacy thresholds. While enterprise applications take steps to protect against third-party risk, validating supplier data and invoice processing are still largely manual efforts opening the door to human error and fraud.
Relish labs: The ultimate B2B App innovation platform
Data Assure: Touchless, fully automated supplier data validation
Invoice AI: Automatic invoice validation and digitization
Connect: Collaboration Platform Integration
Supplier Fraud Prevention
Financial organizations must be at the forefront of supplier risk management. With Data Assure, all registering supplier data is validated, flagged, or rejected based on automatic multi-source spot checks. Relish Data Assure globally validates:
- legal name
- address
- US bank account ownership with GIACT
- tax IDs
- up-to-date sanctions lists (like OFAC)
- W8, W9
- PII
- Integrate any third-party data source (EcoVadis, D&B, ISNetworld, GAN, and more) to enrich supplier profiles
With Relish Data Assure, apply automated checks in the supplier onboarding process to stop possible fraudsters at the front door. Re-check when suppliers change their information and run periodic checks for risky suppliers. Better yet, add automation to the invoicing process when processing one-time suppliers for payment.
Payment Accuracy
How can financial institutions solve for hard-to-enable suppliers who generate their own invoices? These rouge, typically service-related, invoices are either on paper or arrive via email. Manual processing of these invoices is no longer a viable option.
Invoice AI automatically reads invoices from any source, in any format, and validates them against master data, POs, government tax authorities, and more.
Invoice AI is specifically tuned to read disparate documents in the Invoicing context.
- Eliminate re-keying of supplier invoices into your procurement system.
- Suppliers correct invoice errors before you even see them.
- Allow AP to manage true invoice reconciliation exceptions. Invoice AI offers a touchless path for all invoices to enter your existing AP workflow.
Automate Supplier Invoicing with Invoice AI
This Financial Services client knew they needed a solution to automatically process all LAC invoices. The top priorities were eliminating supplier fraud and reducing manual efforts to gain efficiencies.
The Relish Advantage
Enable in days
Relish apps are easy to install and configured to extend your existing enterprise application. No new long-term projects. Just install and go!
Security
Relish utilizes SOC-2 enterprise-grade best practices to protect all data.
Great partnerships
Work directly with Relish or find us on the SAP Store or Coupa App Marketplace. We meet you where you are.
Our clients are industry leaders
Industry leaders understand the limitations of enterprise solutions and benefits from Relish solutions.
Resources
US Vendor Validations – 20 tips in 20 Minutes
Validating US vendor information and checking that they are not on any applicable sanction lists must be a part of your process when you add new vendors or change existing vendors. Sponsored by Relish, get tips on how to perform, when to perform, and which to perform...
How Does SOC 2 Compliance Benefit SaaS Companies, Like Relish?
Customer security is no joke. This is why Relish stands by its SOC 2 Trust Service Criteria for security. As more enterprises look to process sensitive and confidential business data with cloud-based services like Relish, it’s critical that they do so in a way that...
Relish Invoice AI Now Supports PIDX, Streamlining Electronic Data Exchange for the Energy Sector
CLEVELAND, March 13, 2023 – Relish, a leading B2B app development and platform company, has announced today that its Relish Invoice AI solution has added support for PIDX, a data exchange standard used in the energy industry. This enhancement enables energy...