CypherIQ Pricing: Cost and Pricing plans

CypherIQ Pricing

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Pricing Insights for Financial Analysis Software

The Average Cost of a basic Financial Analysis Software plan is $40 per month.
43% of Financial Analysis Software offer a Free Trial Allows users to try out the software for a limited period before making a purchase decision. , while 20% offer a Freemium Model Allows users to access basic features at no cost..

Annual License Cost $4,769.74 $4,769.74 per user / year

* Pricing is exclusive of GST. Enterprise licensing and multi-user packages available on request.

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CypherIQ FAQs

What is a forensic accounting tool and why is it important for fraud detection?

A forensic accounting tool is specialised software used to investigate financial records and detect fraud, fund diversion, money laundering indicators, and financial irregularities. CypherIQ analyses bank statements to uncover suspicious transactions, circular movements of funds, layering patterns, and unexplained credits or debits that are difficult to identify through manual audits.

How does a forensic accounting tool analyse bank statements?

The tool reads PDF, Excel, and CSV bank statements, structures transaction data, and applies advanced forensic logic to identify abnormal transaction behaviour, suspicious narration patterns, repetitive transfers, and concealed money trails. This enables deep forensic analysis using bank statements as the primary source of evidence.

What types of fraud can a forensic accounting tool detect?

The tool can help detect: internal corporate fraud, employee fund diversion, vendor kickbacks, shell entity transactions, circular movement of funds, layering of money to hide source, manipulation of cash flows, and tax evasion-related patterns. These fraud types are identified through bank transaction behaviour and relationship mapping.

Is this forensic accounting tool suitable for corporate internal audits?

Yes. The tool significantly strengthens internal audit functions by detecting hidden fund flows, suspicious transactions, and non-business-related payments that may be missed during traditional audit procedures.

Does this forensic accounting tool help in SA-240 and SA-250 compliance?

Yes. By detecting suspicious transactions, fund diversion, and abnormal patterns, the tool enhances an auditor's ability to comply with SA-240 (fraud detection) and SA-250 (legal and regulatory compliance).

Can this tool be used for merger and acquisition due diligence?

Yes. During M&A due diligence, the tool helps identify manipulated cash flows, temporary fund parking, circular transactions, and undisclosed financial risks by analysing historical bank statements.

What bank statement formats are supported?

The tool supports PDF, Excel, and CSV bank statements from all major banks, including complex and inconsistent formats.

Can this tool detect employee-level financial misconduct?

Yes. It can detect personal account misuse, unauthorized transfers, repeated withdrawals, and suspicious payment behaviour linked to employees by analysing transaction patterns in bank statements.

How can organizations get started with the forensic accounting tool?

Organisations can contact CypherSOL through the website to understand deployment options, conduct a demo, and evaluate how the forensic accounting tool can support their investigation or audit needs.

How is this different from regular accounting or ERP software?

Accounting and ERP systems record transactions, while this forensic accounting tool analyses behaviour, patterns, and intent behind transactions, making it suitable for investigations rather than routine bookkeeping.

How does this tool help forensic accountants and CA firms?

Forensic accountants and CA firms use the tool to speed up investigations, analyse large volumes of bank statements, identify fraud indicators, and generate structured forensic reports. It supports forensic audit requirements related to fraud detection and compliance.

What is layering in forensic accounting and how is it detected ?

Layering is a technique where funds are moved through multiple accounts to obscure their origin. The forensic accounting tool detects layering by identifying repeated pass-through transactions, multi-account routing, abnormal fund circulation, and timing-based transaction patterns across bank statements.

What are circular transactions and why are they risky?

Circular transactions occur when money moves through several accounts and eventually returns to the original account or related entity. This is often used to inflate turnover, manipulate balances, or disguise fund ownership. The tool automatically identifies circular movement of funds during forensic analysis.

Can forensic accounting be done using only bank statements?

Yes. Many financial frauds leave clear behavioural footprints in bank statements. This forensic accounting tool is specifically designed to detect fraud, fund diversion, layering, and circular transactions purely from bank statement analysis, without requiring accounting software data.

Who should use a forensic accounting tool?

This tool is ideal for: corporates conducting internal investigations, forensic accounting professionals, chartered accountants performing forensic audits, internal and statutory auditors, risk and compliance teams, banks and NBFC audit departments, and government law enforcement bodies handling financial investigations.

Can multiple bank accounts and banks be analyzed together?

Yes. The tool consolidates multiple bank accounts across different banks into a single forensic view, enabling investigators to trace money trails across entities, employees, vendors, or group companies.

Is the forensic accounting tool useful for vendor and related-party analysis?

Absolutely. It helps identify suspicious vendor payments, hidden relationships, repeated structured transactions, and circular fund movements between related parties using bank statement data.

How does the tool ensure data confidentiality and security?

The forensic accounting tool works completely offline, ensuring that sensitive financial data remains within the organisation and is not transmitted over the internet.

Does the tool generate forensic reports for audits and legal review?

Yes. It generates structured Excel and CSV forensic reports suitable for audit documentation, management reporting, and legal or regulatory proceedings.

How much does CypherIQ cost?

The pricing for CypherIQ starts at $4769.74 per user per year. CypherIQ has a single plan:

Annual License Cost at $4769.74 per user per year.

Learn more about CypherIQ pricing.

Does CypherIQ offer a free plan?

No, CypherIQ does not offer a free plan.

Learn more about CypherIQ pricing.

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CypherIQ Features

Show Feature Explanation

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Financial Analysis Features

Features: The Feature Score % is calculated using the weighted average method, where core features hold more weight in the final calculation. Read more

71%

KPI & Metrics

Measures the success rate and monitor the performance metrics that matter most to your business.

Risk Assessment

Helps to analyze the potential risk factors that cause harm to the business

Divisional Analysis

Helps to track and monitor the performance of your individual business unit

Market Analysis

Helps to measure your industry status in the overall market using quantitative and qualitative data points

Industry Analysis

Helps to assess the business position against competitors and gain competitive dynamics of an industry

Performance Analytics

Helps to predict the future performance of a business using Key Performance Indicators (KPI) and other Metrics

Cash flow Forecasting

Helps to measure the financial position of an entity in the future using cash in and cash out of a business

Anti Money Laundering Features

Audit Trail & Reporting

AI & Machine Learning Detection

Data Integration & Aggregation

Risk Scoring & Profiling

Case Management

It is a dynamic process that helps to handle a set of tasks related to a particular issue, charge, patient, legal issue, or any other complex entities and evaluates to improve outcomes, experiences, and value.

Multi-Jurisdiction Compliance Support

Identity Verification & Biometrics

Regulatory Compliance Management

Suspicious Activity Reporting (SAR/STR)

Sanctions & Watchlist Screening

Transaction Monitoring

Enhanced Due Diligence (EDD)

Customer Due Diligence (CDD) & KYC

Alerts & Notifications

Workflow Automation

Automatically execute mundane and repetitive processes or workflow so that employees can focus on productive work

Predictive Analytics Features

Visualization Tools

Simple graph visualization for analyzing connections and relationships.

Scenario Modeling

Simulates "what-if" scenarios to predict the potential outcomes

Data Integration

Helps in collecting and combining data from multiple data sources and offer them in a unified manner to the user

Statistical Relevance Analysis

Helps in knowing if the result achieved by testing the data is statistically significant or not

Data Governance Features

Access Control & Data Security

Data Classification & Discovery

Data Quality Management

Reporting & Analytics

Integration with Data Sources

Data Stewardship & Ownership

Policy & Compliance Management

Data Lineage & Traceability

Data Cataloging & Metadata Management

Workflow & Approval Management

Data Extraction Features

Data Validation

Flag missing or inconsistent values

ETL Pipeline

Transform and load into analytics and, BI tools

Data Normalization

Standardize formats (dates, currency, identifiers)

Document Parsing

Process DOCX, PDF, XLS, CSV, JSON, XML, etc

Export in Common Formats

Accepted file formats: TXT, DOCX, PDF, SRT, and VTT for captions.

Optical Character Recognition - OCR

Helps in converting scanned paper documents into editable files

Data Cleansing

Helps in verifying/correcting/modifying inaccurate or coarse data from database

Built-in Templates

It has bundle of predefined templates that can be used for creating a design

Unstructured Data Extraction

Pull data from text documents, PDFs, images, emails or databases

Automated Scheduling

Helps to automate the scheduling processes to reduce paperwork, provide a comprehensive solution and ensure timely updates

Multi-language Support

Available in multiple languages to support global customers

Cloud Storage

Provides an online storage space to store data

CypherIQ Pricing

Pricing Insights for Financial Analysis Software

CypherIQ FAQs

Compare CypherIQ Pricing Against Competitors

Free Software Alternatives to CypherIQ

CypherIQ Alternatives

CypherIQ Features

Financial Analysis Features

Anti Money Laundering Features

Predictive Analytics Features

Data Governance Features

Data Extraction Features

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