TechnologyOne has launched InvoiceIQ, a new solution designed for local councils in Australia to detect suspected invoice fraud and business email compromise (BEC) before payments are processed. The release comes in response to recent incidents in Queensland, where councils lost millions after fraudsters manipulated supplier details and submitted fraudulent invoices.
The introduction of InvoiceIQ highlights the growing urgency for public sector organisations to strengthen financial security as cybercriminals increasingly target accounts payable systems. By embedding fraud detection directly into finance workflows, TechnologyOne aims to help councils identify suspicious activity in real time while maintaining operational efficiency.
A key feature of InvoiceIQ is its ability to monitor and flag unusual changes in supplier or invoice data. When anomalies are detected – such as altered banking details or unexpected modifications – the system alerts finance teams to review the transaction before any funds are released. This proactive approach is designed to prevent fraud at the point of payment rather than relying solely on post-incident investigations.
The solution leverages anomaly detection based on historical transaction patterns, allowing it to identify irregularities without disrupting routine financial processes. Instead of applying blanket checks across every transaction, InvoiceIQ focuses on high-risk changes, reflecting a broader industry shift toward targeted and intelligent fraud prevention controls.
Business email compromise remains one of the most significant threats to public sector finance teams. Attackers often impersonate trusted suppliers or compromise legitimate email accounts to request payment detail changes. In the cases referenced by TechnologyOne, scammers successfully deceived council staff into updating genuine supplier records, enabling fraudulent invoices to be processed without immediate suspicion.
Chandan Potukuchi, Chief Technology Officer at TechnologyOne, emphasised the importance of evolving defences in response to increasingly sophisticated threats. He noted that the solution introduces automated, intelligence-driven protections into accounts payable processes, helping teams remain both efficient and resilient against cyber risks. Potukuchi also highlighted how cybercriminals are leveraging AI and social engineering tactics to exploit human vulnerabilities and gaps in email security.
Australian local councils, which manage large volumes of supplier payments across infrastructure, services, and procurement, have become frequent targets for such attacks. Because fraudulent requests often appear to come from legitimate contacts, they tend to exploit routine administrative workflows rather than purely technical weaknesses. This has driven demand for embedded security measures within core financial systems.
InvoiceIQ is included as part of TechnologyOne’s latest major software release and is available as an optional layer of protection for customers. The company stated that the tool is specifically designed to safeguard public funds, enhance compliance, and strengthen defences against invoice manipulation and BEC attacks.
Potukuchi described the launch as more than just a feature update, calling it a “security evolution” for finance teams. He stressed that protecting customer and ratepayer funds remains a top priority, particularly as councils face increasing scrutiny over financial governance and internal controls.
As cyber threats continue to evolve, TechnologyOne’s InvoiceIQ represents a proactive step toward securing public sector financial operations. By combining intelligent detection with seamless workflow integration, the solution aims to help councils reduce fraud risk, maintain trust, and ensure stronger financial integrity in an increasingly complex threat landscape.
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