Learn about the configurable ledger analysis (“CLA”) and how it can be used in MindBridge.
The vendor invoice analysis is the first available analysis utilizing MindBridge's CLA framework.
Reach out to your CSM to see if CLA is right for your organization.
CLA expands the range of data that you can analyze so you can explore financial or operational ledgers beyond GL, AP, and AR. Today, GL, AP, and AR datasets are analyzed using a pre-selected set of control points specific to use cases by data type. The data requirements for these analyses are rigid, and you cannot modify which columns are targeted for analysis.
CLA is a flexible analysis that uses a range of machine learning algorithms to find various forms of risk. It analyzes large, structured financial and operation datasets with control points, data types, and structures configured to focus on specific procedures and areas of interest. By importing a single financial or operational ledger, you can create a tailored analysis based on your organization’s unique data and deliver meaningful results to improve assurance and reduce the risk of financial loss or misstatement.
Unlimited configuration possibilities is exciting, but it can also be overwhelming. To start clients on the CLA journey, MindBridge has created a standard vendor invoice analysis for CLA after piloting CLA with our clients. We have configured a set of control points and data points to provide you with a deeper understanding of your vendors.