Fraud Risk Services
Data Analytics
Increase revenue and reduce costs
Is your organisation losing profits through fraud and other areas of financial leakage?
Data analytics can help safeguard your bottom line, identify key risks facing the enterprise
and improve business processes.
Data analytics is both a proactive and reactive component in the management of enterprise risk.
Proactively, data analytics is used to identify key enterprise risks and provide management with
the data to effectively manage these risks on an ongoing basis. Reactively, data analytics is used to
quantify and isolate incidents of fraud, corruption and financial leakage to enable an appropriate
incident response and provide data to enable effective ongoing risk management
Our data analytic process involves analysing 100% of transactions to identify, quantify and relate
anomalous, erroneous, suspicious and fraudulent activity within and across business systems.
In addition to the identification of individual transactions of interest, our data analytics process
is capable of further identifying hidden relationships in the data that may otherwise have been
misclassified or completely overlooked.
This approach enables intense, customisable scrutiny through the extraction of data from
transactional systems to our secure data analysis environment where our deep data analytic
expertise can be applied with no impact on business critical systems and/or resources.
Our specific areas of expertise
Fraud risk detection detect and quantify suspicious activity, fraud and corruption.
Revenue leakage granular analysis of revenue streams to identify additional revenue
opportunities and assess the efficiency of key billing and collection processes.
Cost savings and process improvement identify potential synergies and assess process
inefficiencies in key functions such Accounts Payable and Payroll.
M&A post transaction data analytics provides organizations with enhanced confidence in the
underlying assets and liabilities.
Data migrations independently assess and detect data inconsistencies and errors across
systems to increase business confidence and customer satisfaction.
Case study
Data analytics was provided to an ASX100 company to review the organisations Accounts Payable
(AP) function. Over three years of AP data from multiple legacy systems was consolidated and
analysed to identify and quantify key fraud, financial leakage and process risks to the organisation.
The results of the data analytics review identified instances of duplicate supplier payments, GST
posting irregularities, unauthorised supplier payments, circumvention of authorisation limits,
inappropriate employee expenses and a potential conflict of interest between an employee
and supplier.
As a direct result of the data analytics review the client recovered over $250,000 in duplicate
supplier payments, a return of more than 10 times the cost of the data analytics review.
Aon Global Risk Consulting
Our specialist team
can help you
Tim Ray Sydney
p +61 2 9253 7783
e tim.ray@aon.com
aon.com.au
Over
Data analytics checklist
The following checklist identifies potential risk exposure that may be identified by data analytics:
Yes No Unsure
My organisation utilises data analysis to proactively manage
risks across the enterprise.
Data analytic resources are readily available within the organisation
to respond to discrete and/or confidential incidents.
Does your organisation leverage data analytics for its
competitive advantage.
M&A due diligence is based on complete and
accurate information.
My organisation can detect and monitor conflicts of interest
across the enterprise.
If you answered No to any of the above or are unsure in your responses then perhaps its time to
talk to us.
About Aon
Aon Corporation is the leading global provider of risk management services, insurance and reinsurance brokerage, and human resources solutions
and outsourcing. Aon unites to deliver distinctive client value via innovative and effective risk management and workforce productivity solutions.
Aons industry-leading global resources and technical expertise are delivered locally in over 120 countries.
Visit http://www.aon.com for more information on Aon and http://www.aon.com/manchesterunited to learn about Aons global partnership and
shirt sponsorship with Manchester United.
Aon Risk Services Australia Limited ABN 17 000 434 720
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