It is estimated that businesses lose billions of dollars every year to fraud through asset misappropriation. Would you know if there were fraudulent disbursements occurring in your organization?
Expense reimbursements, billing and payroll schemes are amongst the most costly and frequent methods of fraudulent disbursement. Because these types of fraud are committed by employees at work they can be difficult to detect.
Many a times fraud continues undetected for years together – sometimes 3 years and even more. With our data analytics which uses fraud fighting technique – frauds will be curtained to a very significant level.
Data Analytics has become widely recognized as one of the best ways to prevent fraud, with the 2014 study ranking it the best out of 11 fraud detection methods. Data analytics can detect anomalies in billing and payroll areas early and dramatically reduce the cost and duration of fraudulent schemes.
CAZAdvisors can assist you to implement data analytics cost-effectively in your organization. Through our data analytics service, suppliers’ details can be matched, duplicate payments, invoices or employees identified, and employees’ bank account details checked to suppliers’ bank account details – preventing common fraudulent disbursement schemes.
CAZAdvisors takes a team approach, in order to understand and cater for your specific situation. We collaborate with you to:
• Structure and execute strategic plans
• Assess your business performance
• Implement appropriate strategies
• Maximize the value of business opportunities
Our support is tailored and relevant to each client. It is also practical, timely and robust. Whether you are new to an area or a seasoned operator, we can help you achieve successful outcomes.