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.
Interested in Payment Risk Analytics? Watch as Director Tom Haldiman shares how this innovative tool has evolved to help our clients succeed.
Purchasing Card Risk Analytics
Purchasing cards—also known as corporate credit, procurement, or travel cards—have empowered employees to make purchasing decisions. They’ve also exacerbated fraud, waste, and abuse. Our team of analysts and Certified Fraud Examiners can effectively leverage the data-rich nature of purchasing cards to help identify high-risk transactions throughout the population.
Accounts Payable Risk Analytics
Monitoring vendor activity plays a key role in managing fraud risk. Nearly all top fraud schemes involve cash disbursements, most of which run through an organization’s vendors and accounts payable. FORVIS’ proprietary vendor risk analytics solution can provide you with an overall vendor score to help identify the high-risk vendors in your organization.
Payroll Risk Analytics
From hourly time records and weekly payroll to email, social media, internet, and computer use, workforce management is laden with data. “Enterprise amnesia”—missing out on potentially unknown data—can significantly limit your decision making. FORVIS’ payroll risk analytics solution can help you identify employee- and payroll-related risks and make informed decisions.