IRIS AI

IRIS AI is 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 Anayltics. This new tool is an analytics software platform for accounting professionals that uses artificial intelligence to uncover material errors in data. Our platform makes the audit process more efficient and complete, resulting in lower risk exposure and providing end-clients with increased assurance that exceeds regulatory and industry standards.

Removing labour-intensive, repetitive tasks from the audit process enables you to provide results rapidly and focus on delivering higher-value services to clients. 

  • Speed of assessing, evaluating and resolving transactions allows for more comprehensive audits 
  • Process larger amounts of data than a regular audit in a given timeframe 
  • The dashboard illustrates the risk associated with each transaction allowing practitioners to focus on the most risky transactions 
  • As a cloud based product, installation overheads are eliminated providing auditors access to all functionality while working remotely on client sites
  • Saves time and frustration by eliminating data import and compatibility issues with the ‘White Glove’ onboarding service 

 



The Challenge

Undertaking audits is becoming an increasingly onerous task. We see an explosion of data which appears to double every 18 months, clients using multiple ERP systems and clients often having offices in various locations across the country so its easy to see why completing audits is becoming more challenging. Commercial pressures play a part too. Practices are under pressure to deliver audits at lower costs, requiring less effort/ people and provide a higher level of assurance. 

The Solution

With its simple, intuitive user interface Mindbridge AI can import a full general ledger from various sources including CSV, Excel or select cloud accounting packages. The automated rules based, statistical and machine learning based algorithms to allows for 100% of transactions to be analysed and rich, statistically sound results are obtained in minutes. 


Benefits of Mindbridge Ai Auditor

Mindbridge Ai Auditor unique technology combines the simplicity of an intuitive interface design with next generation machine learning technology to ensure an easy and effective way of performing audits. It's a complete solution that reduces or eliminates repetitive, low level tasks often associated with journal entry testing. We help you to achieve a focused and efficient audit, faster and more accurately. 

 

No more sampling - Review 100% of transactions  

Automatically analyse 100% of transactional data with greater granularity than a regular audit in a given timeframe. Applying automated rules and statistical and machine learning based algorithms to all transactions delivers rich, statistically sound analytic results in minutes. 

                                                             



Advanced Task Visualisation  

Our advanced task visualisation and management system promotes collaboration. You can assign the right tasks of the audit to the right audit team members at the right time. 


Fast and Scalable Data Science Insights 

Handle general ledgers of all sizes, from files exported from standard accounting packages to large files from the leading ERP systems. This functionality coupled with our data ingestion support service can help you get started in no time.  

                                                      


IRIS OpenSpace helps you work closer and more intuitively with your clients. 
You can upload, store and approve documents online. It's in 'The Cloud' so it's always accessible from any location, 
and it's fully integrated into the IRIS Accountancy Suite making it quick and easy to use.
You can store as much as you like, for as long as you like. 
If you are a UK based accountancy business we will even give you 1GB of free storage to get you started.
Additional space can easily be purchased from as little as £5 per GB per month or get a 15% discount 
for an annual subscription to 10GB by clicking the web store link above.

IRIS AI provides instant solutions for:

  • Practices wishing to build added value services through strategic insight
  • Practices looking to be at the forefront of technology and differentiate themselves
  • Those seeking to improve staff retention and reduce the time required to be trained on the application of analytics
  • A more comprehensive audit with less reliance on random sampling 
  • An improved risk based approach allowing more time to investigate high risk transactions
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