London, UK, October 9, 2018 – MindBridge® Analytics Inc. announced from IRIS World in London today, major enhancements to its award-winning Ai Auditor solution catered towards accounting professionals. The new release expands Ai Auditors’ analytic capabilities from general ledger to subledgers, including accounts payable and accounts receivable, along with advanced insights delivered through year-over-year analysis of financial records and additional features such as interim analysis, completeness checks and extended account mapping functionality.
Leveraging a hybrid of artificial intelligence techniques, Ai Auditor performs a complete analysis by examining every transaction within the financial datasets and assigning a risk score to each transaction. Through an intuitive dashboard, accounting professionals can visually review the results by risk, time-series, chart of accounts, and now by vendor and customer, while also being able to drill-down for deeper insights and an explanation of the results.
The year-over-year analysis provides trend charts and financial ratio calculations to provide more insights into the operating activity over time, while the additional support of completeness checks, interim analysis with a roll-forward check and an extended account mapping tool with enhanced machine learning, further facilitates the ease-of use and efficiencies attained using Ai Auditor.
The new functionalities have been met with enthusiasm by industry professionals, such as Tom Hood, CEO of MACPA & Business Learning Institute who notes, “I am excited to see MindBridge expand its functionality and increase even further its value add to audit professionals.”
The extended capabilities and optimizations introduced with this latest release of Ai Auditor provide greater robustness, efficiency and effectiveness to manage risk with a higher degree of certainty. These improvements will continue to extend the adoption of Ai Auditor to a broader base of accounting professionals to augment their capabilities with artificial intelligence.
“Leveraging artificial intelligence provides a powerful opportunity to redefine accounting and mitigate risk,” says Eli Fathi, CEO MindBridge Ai. “The functionality of Ai Auditor continues to evolve at a rapid pace. This latest release incorporates feedback from our fast-growing customer base to further improve the operational efficiencies and increased insights that can be attained through integrating Ai Auditor within the audit process.”
The UK’s largest accountancy software provider, IRIS Accountancy Solutions has recently launched IRIS AI, a family of AI based products and services for every size of accountancy practice. The first product in this offering is MindBridge Ai Auditor from MindBridge Ai.
Sion Lewis, CEO of IRIS Accountancy Solutions says, “AI continues to generate much interest among accounting and finance professionals. There is an appetite to reduce repetitive, time-consuming and redundant tasks, and create practice capacity for more lucrative added-value consultancy for clients.”
Kreston Reeves, who were named as “Large Practice of the Year’ by the Accounting Excellence Practice Awards in 2018, have also experienced the benefits of Ai Auditor. Chris Madden, IT and Operations Director comments, “Kreston Reeves is excited to be using the MindBridge Ai Auditor. We recognize the audit industry is changing rapidly and MindBridge is keeping us in the forefront of this change. Kreston Reeves can continue to deliver high performance results to our client base with such leading edge technologies.”
Recognized by Accounting Today as the 2018 Top New Product – Audit Tools, Ai Auditor is used by Accountancy / CPA firms, enterprises, governments and regulators worldwide.
For more information, please visit mindbridge.ai
About MindBridge Ai:
MindBridge Ai is a venture-backed FinTech company based in Ottawa, Canada. Through the application of machine learning and artificial intelligence technologies, the MindBridge platform detects anomalous patterns of activities, unintentional errors and intentional misstatements. Using MindBridge Ai Auditor, organizations across multiple industries can minimize financial loss, reduce corporate liability and can focus on providing higher value services to their clients.
MindBridge is the registered trademark of MindBridge Analytics Inc.
For more information, visit mindbridge.ai