Self-learning audit platform for vouching automation
Audit procedures require accountants to deal with a lot of files. For example, auditors reconcile hundreds of sales records with corresponding contracts, purchase orders, shipping notices, invoices and subsequent cash receipts. In addition, many client companies keep these files as papers and PDF. As a result, auditors are forced to manually read the files to check if the sales records are correct. Auditors also have to handle large datasets, such as general ledger and sub-ledgers to find errors and frauds.
- Time consuming - Handling massive paper and electronic files
- High labor cost - Traditional tools are manual and tedious
- Error and fraud - Limited scope for auditing and bookkeeping
GenialAI supports those who want to fix these issues. Auditors interact with GenialAI to automate the revenue testing and other audit procedures. Let GenialAI take care of repetitive audit tasks. GenialAI also assists human judgments such as sampling. Furthermore, GenialAI smoothly integrates with ERP systems to extract and analyze ledgers with AI. This will give auditors another tool to investigate accounting data.
How it works
Higher efficiency with the power of AI
Reduce the risks and costs of the audit
Vouching results in Excel format
Ability to test all data vs. data samples
Ability to process data in minutes, not hours
- Risk detection
Ability to flag high risk records to test
- Machine learning
Replicate human judgment precisely
Automate document matching from end to end.
GenialAI helps you select the samples to test. You can handle a population dataset faster than Excel with a search box and the useful filters. Learning from the previous selections, GenialaI suggests records to test. Also, you can effectively judge higher-risk transactions by displaying important columns on the browser.
Define test items
These are GenialAI's core functions to define how to vouch a population with evidences. Intuitive user interface that add/remove test items into/from any place. Ability to add a new column into population dataset from OCR results. Flexible cleansing functions that can satisfy extremely various test needs. Conditional match that switchs test items based on column value, such as revenue recognition flag. You can download/upload a test definition file, which makes documentation and reperformance easier. There are much more functions than we can describe here.
GenialAI shows you the amount and the number of lines for each category: all items matched, no corresponding evidence, follow-up required, as well as vouching properties. You can select categories to download as a Excel file or review the details.
GenialAI helps you review the test results by searching line items and showing the population and OCR results and images. The associated document page is shown when you filter the lines or scroll down the table. Thus, it is extremely easy for you to follow the unmatched lines.
GenialAI provides a window to edit population and evidence files. You can review, rerun OCR and download the extracted data in this screen. Also, OCR results from multiple evidence files can be combined into one Excel file here.
GenialAI automatically generates OCR settings for typical fields, such as coordinates, table structure, table header, regular expression, and language. This technology is patented in Japan and patent-pending in the US.
Moreover, there are two option to extract table data. (1) Just select one table header and let GenialAI understand table structure. (2) Specify the first cell's location and let GenialAI search for the cells.
Just upload documents, and GenialAI takes care of the rest. GenialAI allocate the most fitted OCR settings. Then, it fixes scale differences and skewed documents using image recognition technology, so that the coordinates can be applied without modification for the OCR.
GenialAI reads 10 different languages, including handwritten texts. It also automatically recognizes table structure and extract data. All features in GenialAI OCR are included in GenialAI Audit.
Review OCR results
GenialAI assists you to review the OCR results, presenting the document page and the extracted data side-by-side. If an error is seen, you can manually edit the result, change the OCR template, or create a new template from the document page. The OCR result only for the shown page can be downloaded here.
Customize password policy to remain compliant with the internal security policy in your organization. Minimum character length, password complexity, expiration period, historical reuse restriction, lockout duration, and two factor authentication.
Furthermore, role-based access control, encryption in transit and in storage, real-time vulnerability scan, and timely software update are provided. We have already acquired ISMS (ISO 27001) certificate.
Use cases for industries
Typical vouching procedures
GenialAI Audit automatically extracts the data you want in any kinds of formats and match with a spreadsheet for your validation, but typically, here are the examples.
- Audit - GenialAI is originally developed for vouching automation as an evidence gathering audit procedure.
- Data entry check - With the strong vouching functions, GenialaI automates the validation of large datasets.
- Compliance - GenialAI Audit helps maintain your internal and external regulational requirements, such as Know Your Customer procedures.
- Computer forensics - GenialAI makes it easy to search keywords from image data.
- Invoice clearance - GenialAI Audit makes it easier to validate entries to your procurement system.
- Travel expense reimbursement - With GenialAI Audit, you don't have to struggle with receipts and tickets every month.
- Three-way match - GenialAI Audit automates three-way match itself.
- BOM validation - GenialAI Audit validates bill of materials with part specifications documents.
- Inbound inventory management - GenialAI Audit helps inbound material inventory management.
- Outbound inventory management - GenialAI Audit helps outbound product inventory management.
- Shipping document processing - GenialAI Audit reads Air Waybill and other shipping documents, attached to the packages, and matches them to a spreadsheet.
- Create/update patient account - GenialAI Audit validates the data entry of patient demographics, insurance information, patient eligibility and benefit information with the registration form.
Sample prices for the fiscal year 2021. Please ask us for a quote.
- Patents have been grantedGenial Technology has patented a technology to automatically recognize document items. We had to manually input how to read document items for every document format. In contrast, GenialAI can generate meta elements just by uploading a PDF file. This technology has been patented in the U.S. and in Japan as follows: U.S.: https://patents.google.com/patent/US11315351B2/en?oq=11315351 Japan: https://patents.google.com/patent/JP6856916B1/en?oq=6856916 […]
- Circuit Meeting #57Aki Abekawa, Founder and CEO of Genial Technology, selected as the most valued entrepreneur at Circuit Meeting #57 held by Incubate Fund and Partner Funds on March 10, 2022. Event Report: https://m.incubatefund.com/ja/circuitmeeting(Please scroll down to see the report #57. Sorry for your inconvenience the linked article has been written only in Japanese.) In this Circuit […]
- GenialAI covered by CPA NaviGenialAI has been covered by an article on "CPA Navi" published online by Wise Alliance Inc. (Sorry for your inconvenience taht the linked article has been written only in Japanese.) "CPA Navi" is a news site for CPAs. It has been updated with news and columns about the CPA and audit industry, as well as […]
- Cloud & BPR Expo SpringFrom April 6th to 8th, 2022, Cloud & BPR Expo Spring will be held at Tokyo Big Sight, Japan. Genial Technology is going to exhibit cloud workstyle innovation solution GenialAI. The 13th Cloud & BPR Expo Spring Dates April 6 (Wed) - 8 (Fri), 2022 Place Tokyo Big Sight, Japan (Booth # E7-33) Organizer RX […]