Finance and Accounting
Reduce complexity of financial operations through high-quality data you don’t have to question
While you strive to mitigate financial risks, reduce costs, ensure good investments, and improve profitability with a healthy cashflow for your organization, inefficient and manual intensive processes stand in the way of being in control. Explore CDQ capabilities to turn your data into insights and keep your business compliant with legal and regulatory requirements.
Real-time validation of bank data and better fraud protection
Instead of managing your bank data in an error-prone manual process and validating data in silos, with CDQ you can reduce your efforts and rely on trustworthy data gathered by a community of fortune 500 companies. Our capabilities include automated screening for critical accounts data and proactive alerts of fraudulent risk cases, to reduce complexity of financial operations.
Use our bank account trust score with millions of valid bank accounts to check new bank account information before operational use and never let corrupted or inaccurate data get into your system. In addition, our services help you cover essential regulatory requirements (e.g., EU GDPR, EU Data Act, EU AMDL, EU Supply Chain Act and more).
Risk optimization for improved profitability
Doing business with sanctioned or embargo-affected companies can hit the profit and loss statement and cause reputational damage. With CDQ Cloud Services, your data is monitored continuously against the latest sanction and watch lists, and the corresponding monitoring report provides a summary on potential matches. Validation scope can be extended to PEPs (Politically Exposed Persons), too.
Thanks to connectivity to local registers, you can also automate your tax ID verification and make sure that legal address, names and business identifiers are correct (i.e., GST numbers, tax identifiers, national identifiers and other third party and proprietary identifiers) with respect to existence, format, reference format, check digits and consistency.
If you maintain bank accounts, they must be verified with the help of CDQ's fraud case pool. As soon as a bank account is flagged in it, no system should accept this fraudulent IBAN. Recently, we had a concrete case where we prevented our system from a fraudulent IBAN, and we look forward to further success stories with the CDQ Fraud Prevention Working Group.
Business Consultant MDM Group Systems
Top picks for you
Keep pace with rapidly changing data requirements
- Rule-based identification of natural persons enhanced by machine-learning algorithms
- Automatically validated bank data records for accounts payable and receivable process
- CDQ community-based proactive fraud alerts and bank account trust score
- EU VAT qualification of business partners identifiers, legal name, and addresses
- Address cleansing and enrichment via 70+ reference sources provided by CDQ
- Access to data sources like Bureau van Dijk and Dun and Bradstreet
- One-time de-duplication of business partner records across all systems
- Configurable data quality rules for customized validation process