Question: Can you recommend a tool that helps detect and prevent fraudulent invoices and overbillings?

If you're looking for a system to spot and block fraudulent invoices and overbills, Feedzai has a mature machine learning-based system. Its products include advanced financial fraud detection, transaction fraud monitoring, AML transaction monitoring, and KYC/customer due diligence. The suite of products is designed to help companies across many industries safeguard their revenue and customers from fraud.

Another good choice is OpenEnvoy, an AI-based accounts payable system. It includes full invoice audit and reconciliation, touchless processing and AI-based fraud detection. The system is designed to improve financial operations and prevent cash leakage, so it's a good fit for manufacturing and supply chain companies.

Medius also offers a range of AP automation software designed to cut fraud and improve transparency in accounts payable operations. It automates invoice capture, processing and payment, and offers real-time visibility into direct and indirect spend. That makes it a good choice for midsize companies trying to modernize their financial operations.

Last, Flagright focuses on AI-native AML compliance and fraud prevention. Its system includes automated case management, real-time transaction monitoring and AI-based risk scoring. Flagright helps fintechs, banks and other financial services companies monitor and prevent financial crimes.