Discover the Advanced AI Audit Software Driving Unparalleled Fraud Detection, Compliance, and Spend Optimization for Global Businesses.
The landscape of expense management has evolved dramatically. With the rise of digital payments, increasingly sophisticated AI-generated fake receipts, and persistent system silos, traditional audit methods are simply failing to protect enterprise finances. Finance and audit teams are drowning in manual reviews, leading to false positives, audit fatigue, and leaving their organizations vulnerable to fraud and compliance risks.
DetectX by PredictX is built to solve these modern challenges. As a next-generation AI expense audit software, DetectX delivers a comprehensive suite of features and capabilities designed for 100% audit coverage, real-time fraud detection, and unwavering policy compliance across your entire global spend, ensuring your enterprise is adapting to the new ways employees are spending (for example, digital wallet).
The Escalating Threat: How Advanced AI Features Counter Modern Fraud
Today's fraud is not static. It's an agile, evolving threat that demands next-generation AI capabilities to secure financial integrity.
- Sophisticated Digital Deception: The rise of AI-generated fake receipts means forged documents now look incredibly real, easily fooling static systems and basic OCR. This makes receipt authenticity a critical vulnerability, contributing to a global median fraud loss of $145,000 per case.
- Complex Collusion & Schemes: Examples include Former Facebook and Nike diversity manager gets 5 years in prison for $5 million fraud, showcasing intricate schemes beyond typical transactions.
- Real World Impact: Another instance highlights the financial impact when Citibank wins a lawsuit against a fired analyst who expensed his partner's meals to the company and then claimed he ate two of everything.
- Insidious Behavioral Fraud: Fraud schemes are becoming more subtle and pervasive, involving consistent policy violations or small, repeated misuses that accumulate over time. These behavioral patterns are often missed by transaction-focused checks. According to the Occupational Fraud 2024: A Report to the Nations(r) by ACFE, "More than half of occupational frauds occur due to lack of internal controls or an override of existing internal controls".
- Exploiting Digital Blind Spots: Invisible Digital Payments from Apple Pay, Google Pay, and peer-to-peer apps create transactions that bypass traditional receipt documentation, forming blind spots for manual audits and increasing financial leakage.
Core Features of DetectX: Empowering Your Expense Audit
DetectX transforms expense approval and compliance tracking with AI-driven solutions that streamline every step of the expense management process.
1. AI-Powered Expense Audit Software for Comprehensive Coverage
DetectX's core is its AI-driven expense audit software, which automates the review of every single expense report, corporate card transaction, and travel booking. Our advanced AI identifies complex policy violations and fraud schemes that rule-based systems often miss. This capability ensures 100% audit coverage, providing finance leaders with a holistic view of employee spending and reducing financial risk.
2. Real-Time Fraud Detection for Expense Management
Fraud moves fast, but DetectX moves faster. Our system provides real-time fraud detection for expense management. We instantly identify and stop duplicate expense submissions, travel and expense fraud, and critical compliance gaps. This proactive approach allows you to prevent losses before they occur, sending immediate alerts for suspicious activity, like unapproved merchant use, directly to employees and managers.
3. Advanced Behavioral Fraud Detection Across T&E
Go beyond transactional checks. DetectX excels in behavioral fraud detection across T&E expenses. Our machine learning models analyze historical spending patterns to establish a unique behavioral baseline, surfacing repeated misuse patterns and flagging subtle outlier spend by user, department, or trend. This capability is crucial for catching the insidious "low-and-slow" fraud that traditional audits fail to spot.
4. Automated Expense Auditing & Compliance Tracking
DetectX streamlines and accelerates your entire expense approval system. Our automated expense auditing system ensures global and regional corporate expense policy enforcement, eliminating manual work and significantly reducing compliance risks. With built-in features like context-aware feedback and risk prioritization, auditors can focus on high-risk transactions, achieving an 80-90% reduction in manual review time.
5. Global VAT Validation and Policy Compliance
Navigating complex international tax regulations is effortless with DetectX. Our platform guarantees precise VAT validation and adherence to global compliance regulations. We provide built-in policy controls for country-specific thresholds and tax rules (JP, CN, EU, etc.), protecting your company from financial penalties and audit failures. DetectX identifies VAT invoices, validates tax IDs, and ensures correct calculations, enabling adherence to a wide range of diverse regulations including those like the Sunshine Act.
Advanced Capabilities: What Sets DetectX Apart for Enterprise Spend Control
DetectX's AI-driven Audit Suite delivers unparalleled spend visibility and risk mitigation, pushing the boundaries of expense management software.
Unmatched Receipt Authenticity & Multilingual Processing
DetectX leverages AI image analysis to detect digitally manipulated receipts with 99.7% accuracy. Our Advanced Receipt Tamper Detection uses pixel-level analysis and font consistency. Beyond authenticity, we offer inline receipt translation for foreign language receipts, enabling full audit logic and native-language employee responses for global compliance.
Unified Visibility: The "Full Story" Audit & Comprehensive Spend Monitoring
Achieve unified visibility across TMC, corporate card, and EMS systems. Asthe only audit system that integrates travel bookings, DetectX provides a "Full Story" audit by seamlessly connecting all spend data, including cross-report, fingerprint-level duplicate and ghost expense detection.
Our comprehensive real-time expense spend monitoring includes:
- Merchant Aggregation Detection: Identifying patterns of spending across specific merchants.
- Aggregated Digital Wallet Check: Monitoring consolidated amounts from digital wallets for compliance.
- Monthly Expense Aggregation: Checking aggregated monthly spend against defined thresholds.
- Negative Expense Tracker: Flagging corporate credit card transactions with negative values to identify unusual activities.
- Monitor Cash Expenses: Providing clear visibility and control over employee cash spending.
- Automated Evidence Collection and Indexing: Our system automatically collects and indexes all necessary documentation associated with each expense report, including receipts, invoices, and approval emails. This centralized approach ensures your team has easy access to all relevant information when needed.
Proactive Risk Mitigation & Procurement Leakage Detection
DetectX is designed for proactive risk mitigation. We offer pre-submission expense audits, preventing issues before expense reports are even filed. Our system also features Procurement Leakage Detection, identifying financial leakage from spend on items that should have been routed through official procurement channels, ensuring greater financial accountability and preventing unauthorized charges. This includes Blocklisted Merchant Detection to flag transactions with unapproved vendors.
AI Audit Co-Pilot & Configurable Workflows
Empower your audit teams with the AI Audit Co-Pilot. This intelligent assistant automates investigations and communications, streamlining the entire audit lifecycle. With high configurability, DetectX allows for custom audit workflows by user role or region, enabling finance managers to configure rules and risk thresholds directly without IT intervention. This also includes:
- Expense Auto Approve Agent: Automatically reducing false positives and approving low-risk expense lines.
- Expense Auto Reject Agent: Automatically rejecting non-compliant expenses based on predefined rules.
- Advanced AI Modeling (No Legacy): Our AI models are built on end-to-end ML pipelines and neural nets, meaning the system truly learns and adapts to evolving fraud patterns and policy changes, ensuring superior output quality.
Granular Compliance & Document Verification
DetectX provides granular control and verification for complex compliance scenarios:
- Conflicting Expenses Tracker: Proactively spotting conflicting expenses within reports to prevent fraud risk.
- Receipt Affidavit Tracker: Monitoring the overuse of affidavits for missing receipts to ensure proper substantiation.
- Double-Dip Detection: Preventing fraudulent meal expense double-dipping and other overlapping claims.
- Hotel Itemization Auto-reject: Automatically rejecting hotel expenses without required itemized receipts.
- Missing Document Detection: Confirming the presence of crucial supporting documents like sign-in sheets for meetings.
- Attendee Type Check: Verifying the eligibility of attendee types against the expense type claimed.
- Expense Sub-Type Check: Ensuring accuracy by verifying amounts against specific sub-expense types.
- Gift Form Check: Confirming the presence of required gift approval documentation for policy compliance.
- Rental Car Accessories: Identifying charges for unauthorized car rental accessories.
- Alcohol Check for Grants / Allowable Alcohol Check: Ensuring compliance with specific alcohol policies, including for grants.
Conclusion: Transforming Expense Audit for the Modern Enterprise
DetectX is not just an upgrade; it's a paradigm shift in expense management and audit. By providing AI-driven features for real-time fraud detection, 100% compliance, and unparalleled visibility, DetectX empowers enterprises to achieve a new level of control and insight over their T&E spending.
DetectX Impact: Quantifiable Results of Our Advanced Features
Discover the tangible impact DetectX's AI-driven capabilities have on financial control, efficiency, and fraud prevention.
- 100% Real-Time Audit Coverage: Achieve 100% of expense reports audited in real time, ensuring complete visibility and proactive fraud detection across every transaction.
- 80-90% Reduction in Manual Workload: Drive an 80-90% reduction in manual review workload through automated expense auditing and smart auto-reject functionality, significantly boosting audit efficiency.
- 5x More Fraud Caught: Leverage Behavior Analytics to catch 5x more fraud caught before reimbursement, identifying subtle behavioral fraud patterns that traditional systems miss.
- 60% Faster Resolution: Experience 60% faster resolution of audit cases, streamlining investigations and ensuring rapid closure of flagged issues with advanced case management tools.
Frequently Asked Questions about DetectX Features & Capabilities
What are the advanced features of DetectX AI expense audit software?
DetectX AI expense audit software offers advanced features including AI-powered expense audit software for comprehensive coverage, real-time fraud detection, behavioral fraud detection, automated expense auditing with compliance tracking, and global VAT validation for policy compliance.
How does DetectX provide unmatched receipt authenticity?
DetectX provides unmatched receipt authenticity through AI image analysis that detects digitally manipulated receipts with 99.7% accuracy. Our Advanced Receipt Tamper Detection uses pixel-level analysis and font consistency to identify forged or AI-generated fake receipts, ensuring proactive fraud prevention.
What does unified visibility mean with DetectX's "Full Story" Audit?
Unified visibility with DetectX's "Full Story" Audit means achieving comprehensive spend monitoring across TMC, corporate card, and EMS systems. It seamlessly connects all spend data to detect duplicate and ghost expense detection, providing unparalleled visibility into employee spending patterns and compliance.
How does DetectX ensure proactive risk mitigation in expense management?
DetectX ensures proactive risk mitigation through features like pre-submission expense audits that prevent issues before expense reports are filed. Our system also features Procurement Leakage Detection and Blocklisted Merchant Detection to identify financial leakage and unauthorized vendor use, securing financial integrity.
What is the AI Audit Co-Pilot, and how does it help audit teams?
The AI Audit Co-Pilot is an intelligent assistant within DetectX that empowers audit teams. It automates investigations and communications by automatically structuring responses and generating email content for flagged expenses. This streamlines the audit lifecycle, reducing manual workload and increasing audit efficiency.
Can DetectX handle granular compliance and document verification?
Yes, DetectX provides granular control for complex compliance scenarios and document verification. Features like Conflicting Expenses Tracker, Receipt Affidavit Tracker, Double-Dip Detection, Missing Document Detection, and Attendee Type Check ensure meticulous verification of every detail for policy adherence.
How does DetectX's AI go beyond traditional OCR for fraud detection?
DetectX's AI goes beyond traditional OCR by using AI vision and pixel-level analysis to detect digitally manipulated receipts and AI-generated fake receipts. Unlike systems that might misclassify "Gin Street" as alcohol, DetectX's advanced agentic AI provides true contextual understanding, minimizing false positives and identifying sophisticated fraud schemes.