Permission Required: Users with the Admin Profile, AP Clerk, Approver and Custom Profile can access this feature
Regional Availability: Australia, India, Indonesia, Singapore, United States
Overview
Volopay's algorithm enhances financial security by identifying duplicate bill payments through a comprehensive comparison of vendor name, total amount, invoice date, and due date. When a potential duplicate payment is detected, the system notifies both the request creator and the bill approvers via the notification slider. This proactive measure helps prevent accidental or fraudulent payments, thereby saving valuable time and financial resources.
How duplicate payments are detected
Volopay’s algorithm identifies duplicate bill payments by comparing data present in the system. The algorithm identifies any duplicate payment based on the following factors of bill payments:
Vendor name
Total Amount
Invoice date
Due date
If a potential duplicate payment is identified. The system notifies the request creator as well as approvers of the bill mentioning potential duplicate payment in the notification slider. This helps prevent accidental or fraudulent payments. Thus, saving time and crucial financial resources.
Note: Approvers have to make sure that duplicate payments are not approved, in case users submit duplicate bills.