Better Business Through Data Analysis & Monitoring My Account

Global Energy Corporation Uses IDEA to Identify Duplicates

Custom IDEAScript Performs Duplicate Tests for AP and P-Card Payments

Client:

A global energy corporation requested an IDEAScript to perform duplicate tests for accounts payable and purchasing card payments, and eliminate previously identified duplicates.

Challenge:

The duplicate research group received new data every month and compared it to the prior year of data to detect duplicate payments, which produced an overwhelming number of duplicates which had already been researched in prior months. 

Solution:

An IDEAScript was developed to detect duplicates and matches within accounts payable and P-Card payments while automatically maintaining archives for the various tests. The archives were used to filter out previously found duplicates. 

Results:

The use of the Archival Mechanism dramatically reduced the number of duplicates to be researched by almost 95%. The duplicate research group was able to focus on auditing only new, relevant duplicate pairs. The efficiency gain allowed some staff to focus on higher level functions and the designing partners received a promotion.

 

Print

Number of views (2267)/Comments (0)

Tags:
Cory

Cory

Other posts by Cory
Contact author

Please login or register to post comments.

Name:
Email:
Subject:
Message:
x
New Features in IDEA 10.3
29 January 2018

New Features in IDEA 10.3

IDEA now runs faster and offers more flexibility than ever before

The latest version of IDEA introduced a host of new features and improvements.  IDEA now runs faster and offers more flexibility than ever before.

Read More

5 Ways Data Analytics Saves Time
26 January 2018

5 Ways Data Analytics Saves Time

Turn Hours of Work into Minutes

5 time-saving ways data analytics can help you shrink your audit time, while improving the quality of your work.

Read More

Tired of Wrangling Cumbersome Client Data?
24 January 2018

Tired of Wrangling Cumbersome Client Data?

10 Ways Our Importing Services Make it Easy

10 reasons to try our data importing services, which save you time, effort and undue frustration. 

Read More

A Journey in Using Data Analytics
24 January 2018

A Journey in Using Data Analytics

Testimonial from Brian Cullum

Read how Brian Cullum used IDEA to help identify a multi-million-dollar fraud based on the overstatement of the borrower’s lending base.

Read More

Planning & Scoping Your Audit
15 January 2018

Planning & Scoping Your Audit

With Data Visualization

Data visualization is changing the way auditors are communicating with their audiences. Easy planning, find risk areas and prioritize your scope of work.

Read More

Infusing IDEA into Your Organization
16 November 2017

Infusing IDEA into Your Organization

Building a successful and sustainable data analytics program requires a mix of people, processes and products...it all starts with collaboration.

Read More

Using Nested @Functions()
16 November 2017

Using Nested @Functions()

IDEA Tech Tip

Combining @functions in creative ways can open a wealth of new capabilities that you may not have known your IDEA software is capable of.

Read More

IDEA 10.3 Now Available
15 November 2017

IDEA 10.3 Now Available

CaseWare Analytics Launches Update

Newest release of CaseWare IDEA introduces key features and enhancements to help auditors, accounts and other finance professionals improve their audits.

Read More

Innovation Starts with IDEA
14 November 2017

Innovation Starts with IDEA

Wrap Up - Part 1

More than 100 IDEA users gathered in Houston on November 1-2 to learn new strategies for implementing and growing their use of data analytics.

Read More

Expert Data Importing Services Available
17 October 2017

Expert Data Importing Services Available

Our goal is to eliminate the inherent time and frustration of importing challenging files so professionals can focus on more value-add tasks.

Read More

Fraud: An Ounce of Prevention...
17 October 2017

Fraud: An Ounce of Prevention...

When it comes to fraud, an ounce of prevention is worth a pound of cure. The full impact of fraud can be devastating, well beyond the financial loss.

Read More

GreenSky Loan Servicing Company Reduces Monthly Statement Review from Days to Minutes with IDEA
17 October 2017

GreenSky Loan Servicing Company Reduces Monthly Statement Review from Days to Minutes with IDEA

Auditors are able to access and analyze raw data with IDEA, which has significantly reduced their need to wait on IT for reports.

Read More

Take a Lean Six Sigma Approach for Audits
19 September 2017

Take a Lean Six Sigma Approach for Audits

Henry Ford once said that if he had asked people what they wanted, they would have said faster horses. Constant innovation keeps businesses thriving.

Read More

Agile Analysis Techniques for the GL
19 September 2017

Agile Analysis Techniques for the GL

Shortcuts to find anomalies and outliers in the general ledger - speed up your analysis with the Financial App

Read More

RSS