Detect Fraud and manage risk with
firststrike® Fraud Detect
apexanalytix firststrike Fraud Detect is an innovative software solution that provides the continuous, automated protection you need to identify and mitigate business risks across your global operations – from fictitious companies submitting bills to employees colluding with vendors or running fraud schemes of their own. You get comprehensive protection from bad actors and scam artists, whether they are outside your business or on your own payroll.
firststrike Fraud Detect gives you both individual and composite risk scores to tackle fraud head-on, including the industry’s most comprehensive collection of protective tests, algorithms and data sources. You can proactively monitor every vendor and every invoice every day. Fraud Detect scores suppliers and employees based on risk factors and generates the comprehensive data needed to conduct a thorough investigation.
What’s more, Fraud Detect works seamlessly with any procurement or payment platform – commercial or homegrown – to give you effective protection companywide.
- Provides continuous, proactive fraud monitoring across multiple systems and data formats.
- Leverages innovative apexarchimedes™ cognitive technologies, including machine learning, robotics, and IBM Watson®.
- Quickly combs through tens of thousands of invoices looking for suspicious patterns – protecting you before a single payment is disbursed.
- Includes ready-to-use reports that can be easily configured to your specifications.
- Produces a clear, actionable analysis, in an easy-to-use workbench, prioritized by risk scores.
- Automatically sources global lists of prohibited vendors (OFAC and others).
- Produces detailed vendor profiles.
- Identifies overlapping employee-vendor relationships.
A proven track record for fraud detection among Global 1000 companies, helping them identify and take action on:
- Fake business entities
- Billing scams
- Conflicts of interest
- Employee-supplier collusion
- Regulatory compliance issues and policy violations
- Prohibited entities (vendors sanctioned by OFAC and others)
- Vendor agreement violations
- Vendor risks and anomalies
apexanalytix Vendor Risk Analysis Service
Certified fraud examiners identify your highest risk suppliers
In addition to licensing our firststrike Fraud Detect software, apexanalytix offers a Vendor Risk Analysis Service delivered by our team of certified fraud examiners (CFEs) and forensic auditors. We begin with a comprehensive data analysis using firststrike Fraud Detect, but then take a deep dive into other potential risks within your vendor community. We uncover conflicts of interest, lapsed business licenses, liability concerns and much, much more. A detailed assessment report gives you a roadmap for remediation and improved controls – including detailed vendor risk profiles and employee-vendor risk matching.
With firststrike, the choice is yours
In addition to Fraud Detect, we offer other modules with the procure-to-pay controls and analytics you need to support your operations.
AP Controls: Continuously detect and prevent payment errors your ERP platforms won’t catch and conduct your own internal audit. Learn more.
Retail Audit: Conduct a self-audit of your retail operations to uncover errors and recapture losses closer to the transaction date. Learn more.
Reporting and Analytics: Quickly transform large and unwieldy data stores into actionable information. Learn more.
firststrike Fraud Detect automatically analyzes data to uncover risks and to deliver the details you need to investigate and take action.