Better Business Through Data Analysis & Monitoring My Account

Data Validation and Script Implementation Automates Workflows

Continuous Monitoring Solution Helps Identify Fraud & Recover Costs

Client:

A financial services and systems administration division of a major media corporation providing solutions for its parent company’s back-office operations. The company is working to standardize and centralize administrative functions to minimize transactional inefficiencies.

Challenge:

In an effort to centralize financial transaction processing to cut costs and gain efficiencies, the client implemented CaseWare Monitor to identify fraudulent activity, processing errors and recovery opportunities. Data provided by IT needed to be verified prior to analysis for areas such as Accounts Payable, Payroll, General Ledger and Travel and Entertainment.

Solution:

A data matrix was developed to match input files with the required fields, to ensure the supplied data was complete, accurate and ready for analysis. The SQL code developed by IT was checked for accuracy to ensure delivery and data objectives would be met.

Results:

The custom IDEAScript provided rapid identification of mismatched data fields within key accounts, in addition to incomplete accounts payable and payroll data omitted by IT. The process was adjusted to include a complete data capture, which allowed the audit team to acquire more raw data for testing.  Additionally, the scripts enabled the identification of duplicate payments and errors in payroll before payments were processed. The implementation of a unified, standardized process is helping save millions annually.

 

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