Artificial Intelligence-Based Risk Analytics
Our artificial intelligence (AI) systems leverage cutting-edge and proprietary technologies to identify risk conditions, spot opportunities, and model uncertainty. Since organizations are so complex, standard linear analysis falls short. Our ability to perform AI-based detection, scenario analysis, and simulations that account for the true nature of an organization can generate insights not possible through standard analytics.
Corruption Risk Analyzer
Corruption accounted for 50% of fraud cases in the ACFE 2022 Report to the Nations. Corruption is typically off the books, which makes detection and prevention a challenge. Combining structured analytics and unstructured data analysis, our Corruption Risk Analyzer can help identify high-risk vendors and employees in your organization.
Email & Sentiment Analysis
Emails, text messages, and social media posts can speak volumes about the author’s emotional state. Detecting certain sentiments early on can help mitigate, and sometimes prevent, crises in your organization. Our emotional tone detection system and sentiment analysis services can be tremendously beneficial in investigations, litigation, and risk management.
Financial Statement Analytics
Purchasing a company isn’t simple, and obstacles should be expected. Depending on the size, structure, and sophistication of the target, you may expect to find potential roadblocks related to the relevance, accessibility, and integrity of underlying financial data. Without a way to overcome these obstacles, the buyer risks erosion of investment value as a once potentially successful transaction veers off course. Our four-step process can help you navigate these obstacles. Key process features include:
- Data Extraction—Our approach bypasses potential constraints by extracting data directly from your system.
- Revenue & Cost Accumulation—With raw data in hand, we accumulate revenue and cost data and assign it to the underlying activities of the target, resulting in a more accurate picture of the target’s economic value.
- Economic Understanding—After obtaining revenue and cost information, we create a new view of the target built upon cost-driving activities, not aggregate financial information. This leads to cross-sectional insight into profitability across different areas of your business.
- Risk & Opportunity Identification—Our approach aims to identify risks and uncover opportunities. We do this by offering insight pre- and post-transaction by identifying various enhancement opportunities in profitability improvement, product line rationalization, and product volume and mix analysis.
The health and healthcare industry is flooded with data. However, data by itself is not information, and information without context is not actionable. Our proprietary analytics suite is built on FORVIS’ broad industry knowledge and subject matter knowledge to proactively help provide our clients with the information they need before they need it.
Payment Risk Analytics
Data analytics is one of the most effective anti-fraud controls, yet only a third of organizations use it. According to the Association of Certified Fraud Examiners 2022 Report to the Nations, the median loss due to fraud in the 2,110 cases studied was $117,000. Losses range from small expense reimbursement fraud to asset misappropriation to multimillion-dollar corruption schemes. No matter what fraud scheme you’re facing, we have the solutions to address it.
Reputational Risk Monitoring
With the prevalence of social media, it’s important to identify reputational risks before they become critical issues. Our reputational risk monitoring platform provides a mechanism to analyze happenings in the social media world and monitor the conversational tone about your organization online. We have the tools to help you mitigate threats before they become full-blown crises.