Cotiviti Retail, a division of Cotiviti, The Healthcare Infrastructure Company™, has launched SmartP2P Alerts™, a new solution designed to enable businesses to identify and prevent transaction errors before they result in financial loss. The application delivers real-time monitoring, prioritized alerts, integrated reporting and collaborative workflows that help finance, merchandising, procurement and vendor management teams address issues earlier in the procure-to-pay lifecycle.

"SmartP2P Alerts™ will empower retailers and commercial enterprises to proactively manage risk, improve operations and protect margins before issues turn into costly problems."

As transaction complexity continues to increase, many retailers and commercial enterprises rely on post-payment audits to uncover pricing discrepancies, promotional errors, allowance issues, and accounts payable inaccuracies. By the time those errors are discovered, they can be costly and time-consuming to resolve. SmartP2P Alerts helps organizations shift from a reactive recovery model to a proactive prevention strategy by continuously monitoring procure-to-pay activity and surfacing issues before transactions are finalized or payments are made.

"Retailers and commercial buyers have long faced a significant challenge in identifying transaction errors early enough to prevent financial impact," said John Lang, Senior Vice President of Retail at Cotiviti. "With SmartP2P Alerts, we're extending Cotiviti's proven audit and compliance expertise to be more upstream in that process. This will empower retailers and commercial enterprises to proactively manage risk, improve operations and protect margins before issues turn into costly problems."

SmartP2P Alerts automatically detects potential discrepancies across accounts payable, pricing, allowances, and promotions, then prioritizes alerts based on both likelihood and potential financial impact. This allows teams to focus on the issues that matter most while reducing the manual effort often associated with identifying and investigating errors. The solution also includes integrated dashboards and reporting capabilities that provide visibility into financial health, alert performance, dollars prevented and time to resolution.

One client, a leading grocery chain, leveraged the platform to successfully identify, correct and track approximately $10 million in promotional pricing corrections over a 12-month period, reducing back-end recoveries, accelerating cash flow, and improving merchandise margin reporting.

The solution also enables better collaboration across internal stakeholders and suppliers with built-in workflows and tools that help streamline investigation and resolution. Connecting prevention and recovery efforts for a fuller view of operations, leading organizations can gain greater insight into a variety of different payment areas. SmartP2P Alerts equips them with AI-enabled tools to dig into root causes, improve supplier relationships and establish a continuous strategy for managing financial risk.

SmartP2P Alerts reflects Cotiviti's continued investment in helping organizations modernize financial operations through technology-enabled audit, compliance, and payment integrity solutions. By replacing fragmented manual processes with a scalable, configurable platform, SmartP2P Alerts helps retailers and commercial buyers to better manage growing transaction volumes while improving operational transparency and financial performance.