Business Data Analytics Solutions
Your organization generates impressive amounts of data every day—and most of it remains hidden. But just because you can’t see it doesn’t mean it’s not there. If handled right, your data can reveal important facts, trends, and patterns that can provide invaluable insights into your organization.
FORVIS professionals unlock the power of your data to help you enhance marketing strategies, develop competitive advantages, open up new revenue opportunities, reduce risk, and improve operational efficiency. With a focus on providing clients with the right information at the right time, our experience in data analysis allows us to create powerful data visualization dashboards that quickly and intuitively enable users to understand and analyze complex data sets.
Analyzing organizational data can be overwhelming, but it doesn’t have to be. Contact us today to find out how we can help focus your team's efforts, achieve quick results, and deliver value.
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.
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.
Artificial Intelligence-Based Risk Analytics
FORVIS’ 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. FORVIS’s ability to perform AI-based detection, scenario analysis, and simulations that account for the true nature of an organization will generate insights not possible through standard analytics.
Corruption Risk Analyzer
Corruption accounted for 50 percent of fraud cases in the Association for Certified Fraud Examiners 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, FORVIS’ 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. FORVIS’ emotional tone detection system and sentiment analysis services can be tremendously beneficial in investigations, litigation, and risk management.
Reputational Risk Monitoring
With the prevalence of social media, it’s important to identify reputational risks before they become critical issues. FORVIS’ 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.
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. FORVIS’ 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.
Healthcare Digital Solutions
Healthcare Industry Technology & Data Analytics Solutions
The health and healthcare industry are 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 expertise to proactively provide our clients with the information they need before they need it.Learn More