BI SOLUTIONS

Fraud

Fight fraud using data analytics. Analytics are highly effective in identifying and preventing fraud by bringing in data from different sources and using business intelligence to identify irregularities within massive amounts of data. We run a range of tests that break fields down into categories, identify records with missing information across suppliers and test employee and payable data to identify suspect activity, ensuring your profits are protected now and in the future.

 

Our fraud detection program will help you quickly and effectively identify and track questionable behaviors.

Detect. Protect. Predict.

Each vendor is scored based on thresholds and points assigned through a battery of tests. While failure of any single test does not necessarily indicate fraud, failing multiple tests raises the probability of fraudulent activity.

 

The higher the score the greater the risk.

Vendor Master Test Examples

Invoice Tests

Invoice Numbers Examples

Vendors Consistently Paid Quickly

Real Results

Examine, identify and resolve threats.

The Challenge

A Fortune 500 client employed third party consultants and in-house data queries to identify potentially fraudulent activity. However, there was only time for a random sampling of payment activity.

 

The company faced significant exposure and needed to identify a process which would allow for a more comprehensive review and focus on the vendors with the greatest probability of risk.

The Solution

Illumis created a monthly process to screen every vendor, employee and transaction. The Fraud Control scoring system was implemented, immediately removing 99.7% of their vendor population from consideration. The remaining 339 vendors returned a total of 105 fraudulent disbursements which were spread across 5 vendor records created for the sole purpose of facilitating fraudulent disbursements.

The Result

5 fraudulent vendors, 105 fraudulent transactions and protection against the unknown.

The Ever-Rising Cost of Fraud

A study by the Association of Certified Fraud Examiners found that in 22% of the cases reported, the loss per incident was greater than $1 million

Tony Brush

President / CEO

Working for Illumis for 21 years, Brush has been instrumental in the growth of the company. Brush served as Vice President at Illumis before stepping into the role of President / CEO and has been involved in all aspects of the company’s business throughout his career.

 

Brush’s approach to his role centers on the motto of Illumis, Bright Ideas for Better Profits. Known for his loyalty, team building, and tough but fair expectations, he empowers employees to deliver, therefore fostering a company culture that ensures customers can count on people.