Definition: Automated checks that identify and prevent repeated or redundant payments.
Example: Common duplicate payment scenarios include an invoice submitted twice with slight variations in the invoice number, redundant vendor profiles in the accounting system, and invoices that arrive both by mail and by email.
Explore IVP Cash Management
The IVP Cash Management Solution supports duplicate payment detection. This buy-side platform centralizes and automates cash settlements, balance monitoring, and payment workflows across banks, funds, and counterparties. By replacing manual processes with configurable, straight-through automation, it gives firms real-time visibility, stronger controls, and greater confidence in every cash movement.
