ThirdLine provides an analytics monitoring platform that integrates with municipal ERP systems to continuously analyze financial transactions and identify fraud, waste, and compliance risks. By utilizing over 300 analytics, the platform enhances operational efficiency and supports risk-based audits, enabling municipalities to optimize their financial management processes.
Funding
Funding not disclosed
Founders
Product
Problem
Municipalities often struggle with inefficient financial management processes due to fraud, waste, and compliance risks within their Enterprise Resource Planning (ERP) systems. Traditional auditing methods are often reactive and sample-based, failing to provide continuous monitoring of all financial transactions. This can lead to undetected issues, increased operational costs, and potential misuse of public funds.
Solution
ThirdLine offers an analytics monitoring platform that integrates directly with municipal ERP systems, providing continuous analysis of financial transactions to identify fraud, waste, and compliance risks. The platform utilizes over 300 pre-built analytics to enhance operational efficiency and support risk-based audits. By providing real-time insights into potential issues across various departments like payroll, purchasing, and accounts payable, ThirdLine enables municipalities to optimize their financial management processes, reduce technical debt, and improve overall governance. The system flags transactions, identifies involved parties, and tracks transaction timelines, offering a comprehensive view of potential risks.
Target Audience
ThirdLine primarily targets finance, audit, and IT administrators in cities, counties, school districts, and other public sector entities who utilize ERP systems for financial management.
Features
- Integration with popular municipal ERP systems, including Tyler Enterprise ERP (Munis).
- Library of over 300 pre-built analytics covering areas such as continuous audit, segregation of duties, vendor master upkeep, and duplicate payments.
- Nightly monitoring to detect vendor fraud before payments are disbursed.
- Real-time alerts for leaders to catch worrisome spending patterns.
- Interactive platform displaying flagged transactions, involved parties, and transaction timelines.
- Role and permission analytics to simplify ERP administration and ensure compliance.
- Compatibility with data visualization tools like Power BI and Tableau.