FlexTecs, a technology-enabled recovery audit and contract compliance services and solutions firm, said on March 18 it has updated FlexTrap, an AI and machine learning software solution designed to detect, prevent, and reconcile payment discrepancies.
Initially introduced with a focus on payment error prevention, FlexTrap has now expanded into a fully extensible platform, introducing supplier statement reconciliation to further reduce financial leakage and improve financial operations, Atlanta-based FlexTecs said in a media release.
The platform’s new statement reconciliation feature enables organizations to automate transaction validation with suppliers, saving time and driving efficiency.
“Companies lose millions annually to errors, inefficiencies, and financial risks, making payment accuracy and reconciliation more critical than ever,” FlexTecs CEO Tom Cook said in a statement. “By expanding FlexTrap’s capabilities beyond payment error prevention, we’re giving enterprises a scalable, future-ready solution to proactively safeguard profits.”
For more information about FlexTrap, visit FlexTrap.ai.
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