Odoo provides efficient accounting methods to manage and analyze your finances, but what happens if someone makes an incorrect entry in your Odoo accounting system? We created an Odoo module that understands your data, identifies anomalies, and helps you prevent damages. This unique module uses Machine Learning anomaly detection technology.
Human beings are always prone to errors, however if this happens with your accounting and invoices, it can cause unprecedented disruptions to your business. More often than not, it means that an unusual occurrence has taken place. This could be a human data-entry error, a tagging error or even user familiarity issues. These small errors can ultimately cause major changes in your balance sheet and reflect dramatically on your finances and balance sheets.
So, what are some common mistakes that your employees could make?
- Error in entering invoice numbers or amounts
- Incorrect assigning of costs on bills (taxed of untaxed amount)
- Error in entering bill lines
- Mistakes in attributing or tagging accounts
- Oversights in verifying invoice numbers and costs
What does this module do?
This module understands your expense data patterns and uses machine learning anomaly detection to automatically identify anomalies in your data. This machine learning driven anomaly detection combs through vast amounts of data to identify and alert you for any rare minimum transactions, maximum trained data, or contamination ratio. Once identified, it reports these unexpected dips or spikes to you immediately.
Prevention is better than cure. A lot of times, employees could make errors mentioned above. We designed an Odoo module that safeguards you against all these accounting errors.
- Understands your data – The module understands your accounting data patterns and registers them in the system to keep a robust track of the usual expenses and amounts that you generally enter in your vendor or customer bills.
- Identifies anomalies in your data – It uses machine learning for anomaly detection of your data. It identifies any entry that breaks this pattern and falls out of the purview of your usual transactions, amounts, and expenses.
- Helps you prevent damage – Finally, it combs through vast amounts of your data to identify and alert you for any unusual expense spikes or errors. Once identified, it reports these unexpected numbers to you immediately.
How does it work?
We train data with the existing set of the transaction for regularly entered amounts in bills and invoices.
After this, we use the test data, which is a matrix of current stock moves. This data is used to find a pattern of transactions from the trained data to be compared to.
When can you use it?
No matter which industry you operate in, this cutting-edge machine learning automation can be used for accounting anomaly detection across all industries. If your business relies on human data entry for you accounting needs, this module can help you avoid errors.
How can we help?
Over the years Bista has been helping businesses reshape their digital processes. One of the key practices that we take pride in is our Machine Learning developers who can seamlessly integrate your ERP system with intelligent technologies like Artificial Intelligence and Machine Learning for your business.
Contact us for more details.