Fraud Detection Software
Manual reviews are just that… reviews, occurring after the fact. And they require a tremendous amount of time and resources to cover a high number of transactions.
APEX Analytix believes that potential fraudulent activity from 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 utilizes automated analytics to provide advanced reports that include prioritized scores for vendors. This helps flag questionable vendors, as often as daily, based on a number of tested characteristics.
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 help manage your compliance risk by providing validation against more than 20 prohibited entity listings.
With a unique approach to monitoring both vendor and invoice attributes, a highly configurable interface and detailed, prioritized results, your staff can better identify and monitor high risk vendors like never before.
Know the signs that your company is at risk for fraud so that you can be proactive and better prepare your business to deter fraudulent activity.
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 on our Fraud Detection.