FirstStrike® Fraud Detect
Highlights:
How often do you review your vendor master for potentially fraudulent vendors? How often do you review vendor invoices to identify fraudulent trends or anomalies? A periodic review is a helpful mitigating control, but is by its nature, after the fact. APEX Analytix has a longer-term vision. Just like overpayments, at-risk vendors should be identified as early as possible.
We leverage both technology and skilled scrutiny to isolate and report high-risk situations and transactions. FirstStrike® Fraud Detect has automated analytics that provide prioritized risk scores for your vendors that can be generated daily/weekly/monthly to flag questionable vendors. The reports are produced from an automated analysis of a client-provided vendor, invoice, and payment data files to identify vendors with high risk characteristics, based on more than 20 proven industry routines. FirstStrike® Fraud Detect can also provide validation against more than 20 prohibited entity listings to manage your compliance risk. With a unique approach to monitoring both vendor and invoice attributes, a highly configurable interface and detailed, prioritized results, your staff can effectively identify and monitor high risk vendors like never before.
APEX Analytix also offers an outsourced model of Vendor Risk Analysis in which APEX Analytix specialists utilize the FirstStrike® tools to provide you with a detailed risk management report. This report includes additional manual review and verification processes that can be tailored to your needs. Contact us for more information or click here to request a copy of the Automated Vendor Risk Analysis brochure. Or, ask us for a sample Vendor Risk Analysis report.