Quadrisk provides specialized services and products for detection of anomalies. Quadrisk’s Qura platform has pre-built rules and algorithms.
High accuracy in identifying Fraud
Qura uses sophisticated algorithms coupled with massive computing capabilities to identify frauds and revenue leakage
Strengthening audit coverage
Qura helps in increasing coverage of audit in terms of both data size as well as additional areas. This can be achieved without corresponding increase in effort, time and cost.
Integrating external Data
One of the powerful features of Qura is to analyze data in the light of third party data which is available in various public domains such as government websites, third party maps or even social media!!!
Lower cost of audit
Qura helps in lowering the cost of audit through automation of judgmental analysis using machine learning. Qura also comes with cloud based solution to lower initial investment and infrastructure overheads.
Identify suspicious transactions, for e.g. Payments to incorrect bank accounts, inflated expense claims etc.
Based on the pattern it is possible to prevent revenue leakage and fraud. Upon regular analysis and remediation, the processes become robust and acts as deterrent to fraud.
Contracts to related party, Identify collusion between employees and third parties.
Identify duplicate invoices, duplicate payments, interest on delayed payments, unrealized credits
Identify process and data gaps, even if no fraud is discovered.
Insight into procurement spends
High ROI due to recoveries based on identified anomalies
Sustained cost savings from better insight into spends and process inefficiencies
Reduced cost of audit and compliance