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What’s new in MindBridge?

The Q3 release this year accelerates your Enterprise workflows with big changes to MindBridge’s Transaction Risk Analytics (“TRA”). With fresh TRA analysis configurations to elevate your strategy, you’ll now have exclusive access to new and improved workspaces so you can instantly identify, prioritize, and investigate your organization’s riskiest data.

The improvements included in this release are designed to streamline complex data assessment so you can focus on what matters most — making informed decisions quickly and efficiently. Welcome to the future of data analysis, where every insight leads to informed action:

• All-new dashboard offers the top insights into your riskiest segments
• Transformative Data table redesign
• New custom configurability for High, Medium, and Low risk levels
• Refreshed TRA analysis configuration files to align with AiCFR milestones
• Enhancements to the MindBridge API
• General improvements
• Upcoming changes to the MindBridge platform

Note: We’re working on big things in 2024 and beyond! If you or your team are interested in participating in pilot projects or research that will shape the future of the MindBridge platform, reach out to your Customer Success Manager or Account Manager today.

New capabilities for Q3

New dashboard: Insights

Introducing Insights, an innovative new dashboard that offers a ranked view of the riskiest entries within your organization’s key segments. Insights empowers you to rapidly identify, contextualize, and prioritize urgent and high-value exceptions, anomalies, and inefficiencies in financial and operational datasets so you're equipped to act on critical data right away. These new capabilities simplify your workflows, as well as enhance your operational oversight and strategic decision-making by helping to ensure that your controls and procedures are in place and working effectively. In this way, Insights is designed to support compliance with AI-driven internal controls over financial reporting (“AiCFR”) milestones, and is essential in regulated industries where adherence to standards is critical.

Learn more about Insights

Dashboard update: Data table is now Explorer

Introducing Explorer, a powerful pivot table for all of your segment exploration and decision-making needs. Seamlessly integrated directly into Insights, Explorer accelerates risk detection and response, and combines the functionalities of the former Risk segmentation and Data table dashboards into a unified workspace. This integration enhances the clarity between your segment views and their driving entries, streamlining your workflow from insight to action. While this initial release includes some functional limitations, it sets the stage for future customization of segment views and provides the ability to quickly move from insight identification to risk response.

Learn more about Explorer

New ability to customize your risk levels

Risk ranges are customized scoring parameters that use percentage-based cut-off thresholds to group entries into High, Medium, and Low risk levels based on control point and risk score results. MindBridge now allows your team to adjust these fixed thresholds within the platform. This update provides greater control in categorizing entries so you can choose from dynamic, default fixed, or customizable fixed thresholds to better align with your organization’s unique needs and methodologies.

Learn more about configurable fixed thresholds

Enhanced TRA analysis configuration files

MindBridge’s TRA analyses have been revitalized with new and improved control points and risk scores in order to ensure our Company card, Payroll (salary), Payroll (hourly), Revenue, and Vendor analyses remain cutting-edge and efficient. This update enhances your speed and accuracy by standardizing columns across templates, and introduces rules-based control points into TRA, which can be created and aligned to your organization’s needs and methodology. Each template now comes with sample rules to inspire your configurations, plus, new risk scores have been implemented to help you find the riskiest exceptions, anomalies, and inefficiencies in your financial or operational data, helping you meet various.

Note: Your existing TRA configurations will not be affected by these updates.

Improvements

MindBridge releases several updates a year with both new and improved capabilities and features.

Usability

• Improved behaviour when showing and hiding balances in the Engagement settings.
• New sortable "Created on" and “Created by” columns on the Account groupings tab in the Admin settings, as well as new sorting ability on the “Status” column.
• Updated the “Status” column tooltip on the Account mapping step of the Verify accounts workflow in General ledger analyses.
• Improved layout within the “Add saved filter” window (accessible when creating an advanced filter) in General ledger analyses.
• Source organization and engagement now populate automatically on the “Duplicate analysis” form.
• When an analysis is duplicated, if a Chart of Accounts file has been imported, it will now get copied into the File manager of the target engagement along with other imported files.
• Now if a window’s “Cancel” button is disabled, the close icon (“X”) will also be disabled.
• Amended the “more actions menu” options on Account grouping step of the Verify accounts workflow in General ledger analyses to better align with workflows.
• Enhanced Risk segmentation calculations to handle negative debit and credit amounts, and updated the following columns as a result:
  • “Total Debits” > “Debit activity” (the sum of the debit entry amounts [not the absolute value])
  • “Debit value in [High, Medium, Low] Risk” > “Debit activity in [High/Medium/Low] Risk”
  • “Total Credits” > “Credit activity” (the sum of the credit entry amounts [not the absolute value])
  • “Credit value in [High, Medium, Low] Risk” > “Credit activity in [High/Medium/Low] Risk”
  • “Gross Activity” > “Total activity” (Debit activity + Credit activity)
  • “Net activity” (Debit Activity - Credit activity)
• Resolved an issue preventing monetary flow-based control points from using 12 months of historic data.
• Resolved an issue around attempting to create an account grouping with a duplicate name. Account grouping names must be unique.
• Resolved an issue that prevented annotations from being filtered by the "Data run" field for previous or current analysis runs.
• Resolved an issue that caused drilling down from Financial statements to Trends to always show Assets.
• Resolved an issue preventing searches from matching text after an ampersand (“&”) character.

Explainability

• The analysis name is now clearly visible at the top of all results dashboards.
• The navigation path in analysis results now leads back to the Data page or the relevant landing page for the given analysis, and has been relocated to appear above the analysis name.
• New header below the analysis name provides context around the relevant organization, engagement, analysis type, current period date range, and the number of entries in the current period.
• Added a new tooltip beside the “Accounts” menu on the Financial statements tab in General ledger analyses to highlight Materiality and indicate why some menu options may be disabled.
• Added new headers to the advanced filter builder to provide context around the filtering data.
• New warning for incompatible filters when switching between Entries and Transactions views on the Data table in General Ledger analyses.
• Added new fields ("Library name", "Account grouping name", "Engagement lead") to the Row usage report, accessible in the Admin settings.
• Exporting the Risk over time graph (accessible on the Risk overview dashboard in TRA analyses) now results in a spreadsheet that reflects a fully rendered view of the heat map and the accurate scope of the top risky entries for the selected category.
• Replaced "Account tags" filter with "Status" filter on account groupings within the Engagement settings in General Ledger analyses.
• Updated behaviour for unmapped accounts on the Account mapping step of the Verify accounts workflow in General Ledger analyses — now use button to “Show all accounts” or “Show impacted accounts” only.
• Updated content in "Rename account" window, accessible within the Verify accounts workflow in General Ledger analyses.
• Refined page-load messaging on the Review step of the Verify accounts workflow in General Ledger analyses.
• Filter facets in advanced filtering now provide context for available options — e.g., “Select a value” will now be “Select accounts”.
• Updated menu label in Risk score facet in advanced filtering from “Custom” to “Custom range”.
• Added a new alert for when the character limit of an advanced filter name is exceeded.
• Refined error messages when appending to an account grouping in General Ledger analyses.
• Resolved an issue preventing updated MAC codes in existing account groups to be reflected immediately upon selection in General Ledger analyses.

Scalability

• Up to 100x faster processing speed for Expert Rules control point.
• New limit on entries in a single transaction (250,000 max) during the file import process in General Ledger analyses, in order to emphasize data quality in selection of Transaction ID combination.
• New limit on unique accounts (250,000 max) during the file import process allows for instant column re-mapping to resolve issues.
• New limit on number of accounts (10,000 max) MindBridge can edit at one time during the Verify accounts workflow in General Ledger analyses.
• New warning banner and behaviour for Interim roll forward check report — discrepancies between the interim and full datasets will now be truncated at 100,000 rows.
• New warning for when a population contains accounts that have been hidden or removed from the account grouping.
• The “MAC L4” column has been removed from the MindBridge Account Grouping export, accessible from the Verify accounts workflow in General Ledger analyses.

MindBridge API

Refer to the API reference document for additional details and guidance on the updates below.

Analysis Results

A new entity, Analysis Result, has been added. This entity is the new primary entity for storing analysis results (currently limited to data tables and tasks). Now, instead of being limited to viewing only the most recent analysis results, the results from multiple runs of a given analysis can be accessed. This enhancement allows for a comprehensive history of analysis runs, and improves tracking of changes over time.

• Adds a new GET /analysis-results/{analysisResultsId} endpoint, which returns an analysis result entity identified by its ID.
• Adds a new POST /analysis-results/query endpoint, which queries account groupings based on a given filter.

Tasks

• Adds a new field to tasks called analysisResultId, which is queryable.
• Removes the requirement to include an analysisId term when querying tasks.

Data Tables

• Adds a new field to data tables called analysisResultId, which is queryable.
• Removes the requirement to include an analysisId term when querying data tables.

Account Mappings

A new entity, Account Mapping, has been added. This entity represents mappings between the accounts in General Ledger and Chart of Accounts file types to MindBridge Account Classification (MAC) codes. Account mappings must be configured and validated before running General ledger analyses.

• Adds a new GET /account-mapping/{accountMappingId} endpoint, which returns an account mapping entity identified by its ID.
• Adds a new POST /account-mapping/query endpoint, which queries account mappings based on a given filter.
• Adds a new PUT /account-mapping/{accountMappingId} endpoint, which updates an account mapping entity identified by its ID.
• Adds a new POST /account-mapping/verif endpoint, which verifies all account mappings within the given engagement.
• Adds a new POST /account-mapping/delete-unused endpoint, which deletes all unused account mappings of a given engagement.

Engagement Account Group

A new entity, Engagement Account Group, has been added to provide access to the account groups within engagement account groupings.

• Adds a new GET /engagement-account-groups/{engagementAccountGroupId} endpoint, which returns an engagement account group identified by its ID.
• Adds a new POST /engagement-account-groups/query endpoint, which queries engagement account groups given a filter.

JSON Tables

A new entity, JSON Table, has been added, which provides the ability to import data from a JSON-based source.

• Adds a new GET /json-tables/{jsonTableId} endpoint, which returns a JSON table entity identified by its ID.
• Adds a new POST /json-tables endpoint, which allows for the creation of a new JSON table.
• Adds a new POST /json-tables/{jsonTableId}/append endpoint, which allows data to be appended to an existing JSON table entry.
• Adds a new POST /file-manager/import-from-json-table endpoint, which enables creating a new file manager file from the data imported to a JSON table entry.

File Manager Data Transformation: Merge Files

• Adds a new POST /file-manager/transform/merge endpoint, which merges data from various file sources and creates a consolidated file with the aggregated data.

Other

Marked some fields on the Page entity as deprecated, to be removed in a future release.

Platform-level rate limits provide additional protection on a per-IP address basis, but are set high enough that they should not be encountered during regular use. If the HTTP status 429 is returned, requests can be retried after approximately 30 seconds. Refer to the Rate Limits section of the API reference document for more information.

Upcoming changes

• Updated tasks, notifications, and entry review workflows for TRA analyses.

• Industry tags will be retired in 2025 order to simplify navigation and improve the efficiency of the MindBridge platform.

• Support will be ending for AP and AR analyses created prior to the May 2020 release, and impacted analyses will be moved into a read-only state in 2025.

• The Expense Flurry Report will be retired in 2025. The data in this report will be available to export via the Risk overview and Data table dashboards. Reach out to your CSM to find out how to export this data.