FlexTrap: Payment-Error Prevention Module
Prevent duplicate payments before they happen and trap cash in your business.
FlexTrap’s payment-error prevention module continuously monitors AP data, proactively identifying erroneous payments, enabling AP teams to resolve issues before payments are processed.
FlexTrap is a secure, private cloud platform that runs seamlessly alongside your ERP, empowering your team with 24/7 control over your payments.
Handling AP errors after payment is painful.
With a 1.6% error rate in AP, 16 out of every 1,000 processed invoices have errors, resulting in a loss of $16,000 for every 1,000 invoices.
It wastes your time.
AP teams spend far too much time on low-value tasks like correcting payment errors and dealing with supplier inquiries.
It wastes your money.
Cash that leaves the business in error can take more than a year to recover, if ever.
It forces you to rely on disruptive 3rd-parties.
Third-party recovery audits can be costly and disruptive to your organization.
“The Aspen Group started using FlexTrap and in a few short months, we've prevented over $675,000 in erroneous payments!”
“The tool is an online portal (ingesting data nightly) that's catching things our ERP can't... a true error prevention tool. We were confident that our internal controls and ERP were catching "everything," boy I was wrong.”
Nicole Caley Director of AP, Shared Services Aspen Dental
How It Works
In 30 days or less, you can start turning your data into profit at a rate of over 5X ROI.
01.
Tell us your goals and your pain points.
This will help us understand if FlexTrap is a fit for you AND how we can customize it to fit your needs.
02.
See how FlexTrap will work in your company risk-free.
With a 30-minute demo or a free Proof of Concept, you can see how FlexTrap works in your environment (with no involvement from your IT department). We’ll show you the tangible efficiency gains with zero risk.
03.
Get up and running in 30 days or less.
Fast and frictionless onboarding with minimal IT time and training. Our team works alongside your team to continuously refine results and fine-tune to your environment.
04.
Start preventing errors in real-time.
In as little as 5 minutes per day, FlexTrap gets you out of the weeds and back to more important work.
300+
validation checks
Quickly find errors such as invoice out of sequence, tax anomalies, duplicate invoices, VAT checks, payments to inactive vendors, invoice amount deviation, and hundreds more.
90%
more efficient
Our AI, machine-learning algorithms, and dedicated team of audit experts continuously tune FlexTrap to eliminate false positives and improve accuracy, making it 90% more efficient than competitor tools.
1 week
time to value
FlexTrap delivers value within the first week following the data process.
FlexTrap is your extra layer of protection.
By connecting data across your AP tools, ERP, and Vendor Master, FlexTrap helps you see the path to cash flow control.
Take control.
✓ No more financial leakage.
✓ No more payment plans.
✓ No more uncollectible payment errors.
✓ No more high contingency fees from third-party recovery audit firms.
Save Time.
Spend less time bogged down by payment errors and false positives, and more time on process improvement.
✓ 90% more efficient than traditional internal review processes.
✓ Prioritize the review of real and relevant exceptions.
✓ 3 levels of review prioritization so you can focus on the transactions with the biggest impact first.
Eliminate Friction.
Stop allowing errors to disrupt your day-to-day.
✓ 300+ payment validation checks that flag potential payment errors in real-time.
✓ Reduce or even eliminate dependency on third-party recovery audits.
✓ Advanced search functionality that makes it easy to find exactly what you’re looking for.
Continuously Improve.
Protect your investments in continuous improvement.
✓ Real-time alerts of suspicious payment and fraudulent activity.
✓ Visibility into 100% of your transaction base.
✓ Machine-learning algorithms (MLA) and AI ensure that accuracy alerts continuously improve.
Case Study
7 Use-Cases of How FlexTrap Solved Real Problems
Implementing effective AP payment monitoring systems is crucial for organizations to ensure suppliers are paid correctly and within terms, minimizing errors, enhancing processes, and improving payment visibility.
In this case study, you can explore how FlexTrap has helped REAL customers achieve this through payment accuracy optimization.
Download the case study, today!
With FlexTrap's Payment Accuracy Module you get more value, delivered faster.
Low false positives
Less than .1% of transactions are raised as high-probability errors.
Compatible with any ERP
Whether you’re on SAP, Oracle, or any other ERP, FlexTrap can work with your systems.
No regrets pricing
Our risk-free proof of concept and flexible pricing models ensure FlexTrap has verifiable ROI and is a “no regrets” decision.
Access expertise and in-house support 24/7
From our global delivery team and seasoned recovery audit experts.
Start seeing results in a week or less.
Not ready? Shoot us your email and we’ll send you more information!
The transaction data used in FlexTrap is stripped of any value to hackers. Even still, we make your data security a priority. It is processed and managed in our secure, private cloud.
Read our Privacy Policy here +