Exception Management in NetSuite 2025.2
Exception Management in NetSuite 2025.2 introduces Vendor Information Change monitoring to enhance fraud detection.
Starting in NetSuite 2025.2, the Exception Management feature has been enhanced to include Vendor Information Change exceptions in the Transaction Errors tab. This significant update aims to bolster the continuous monitoring of high-risk changes to vendor data, such as alterations in payee names (e.g., 'Print on Check As') made after recent payments. By flagging these changes for swift investigation, it empowers finance and compliance teams to detect potential fraudulent activities in near real-time while ensuring that core transaction processing remains unaffected. This enhancement not only strengthens overall controls but also fosters customer trust by safeguarding against fraudulent vendor activities.
Key Features of Exception Management
- Real-Time Monitoring: The system actively tracks and flags critical changes to vendor data.
- Configurable Rules: Finance teams can customize the monitoring rules to suit their specific needs and risk profiles.
- Reduced Impact on Processing: This feature has been designed to provide oversight without disrupting daily transaction operations.
Best Practices
- Set Up Alerts: Ensure alerts are configured so that team members are immediately notified of flagged changes.
- Regularly Review Configurations: Periodically assess the configured rules to adapt to evolving business needs and threat landscapes.
- Train Staff: Educate your finance and compliance teams on interpreting flagged exceptions effectively to enhance response strategies.
Who This Affects
- Accountants: Will benefit from enhanced oversight of vendor-related transactions.
- Finance Teams: Gain tools to detect fraud and ensure compliance effectively.
- Compliance Officers: Need to monitor flags and investigate anomalies promptly.
Key Takeaways
- New feature in NetSuite 2025.2 enhances vendor change monitoring.
- Flags high-risk vendor data alterations for investigation.
- Configurable rules allow tailored monitoring to specific needs.
- Improves fraud detection without hindering transaction processing.
- Essential for finance and compliance teams to maintain trust and security.
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