Ensure transactions meet fair market value regulations.
According to laws and regulations a company can pay a fair market value to a healthcare provider or partner for an effort, work, or service. However, payments above a fair value are considered as bribery, and so all payments must be made transparent to meet compliance.
For this process, a solution needs to ensure that fair values are followed according to regulations and overall spent does not exceed fair values of annual spend. Appian’s Fair Value Management application enables management of fair values across departments and different geographies.