QUADRISK PROVIDES SOLUTIONS AROUND FRAUD ANALYTICS, CUSTOMER DEFAULTS AND COST EXCELLENCE

Business Solutions

Automating risk, audit and compliance function is at the core of Quadrisk’s mission. Quadrisk prides in providing domain consulting in the areas of audit and compliance while leveraging technology. It uses leading edge technology to provide solutions for Fraud Analytics, Revenue Leakage, Customer Defaults and Cost Excellence.

Business Solution Areas

Fraud Analytics

  • Accounts payable fraud – Accounts Payable fraud is pervasive across industries and is often of high value. Quadrisk’s solution on AP fraud includes review of configuration, master and transaction data. It has pre-built rules for Account Payable related fraud. Millions of transaction records are reviewed against various parameters to reduce false positives.
  • Travel & Expense – T&E is the most common form of fraud. From behavioral point of view, it is considered as less guilty by the perpetrator. Individual fraudulent transaction may not be of significant value, but cumulatively may cause dent in bottom-line.
  • Revenue Recognition – This again is one of the most common types of frauds. For e.g. sales at period end are inflated to show better results.
  • Supply Chain fraud – Supply Chain Management is vast and complex. It involves movement and storage of raw materials, WIP and finished goods from point of purchase to point of consumption. Many companies have experienced supply chain fraud, but only few of processes and programs in place to prevent or detect frauds. Using analytics solution, warning signals can be sensed and appropriate preventive action initiated.
  • Warranty –Warranty fraud is again pervasive across industries. Quadrisk’s solution uses pattern analysis and machine learning to unearth fraud and thus enabling better controls to prevent future frauds.
  • Non-Performing Asset – This is specific to bank and other lenders. High percentage of NPA erodes bank’s capital. Its survival could be at stake. NPA fraud could be as a result of fund diversion or similar other tactics or it could be internal misconduct. Quadrisk has dedicated forensic team to assist banks and financial institutions to detect NPA frauds.

Customer Default

Many FMCG companies have direct debit agreements with stockists/distributors etc. Frequent dishonor of commitment leads to adverse impact on the cash flow. It is important to watch for warning signs. It encourages to maintain good data.

Quadrisk’s solution predicts customer default by analyzing number of variables that impact customer’s ability to pay invoice.By closely monitoring a customer’s payments and credit scores, it is possible to anticipate a default.

Quadrisk uses Predictive Analytics and Machine Learning to achieve high accuracy.

Cost Excellence

Weak economic forecast, wars, Brexit etc. are compounding the issues faced by enterprises amidst global uncertainties. Competition, newer technologies, ever increasing regulations adds to turbulence. As uncertainties loom large, the first recourse available is cost-cutting.

Enterprises often resort to knee jerk reaction with short term view. This includes layoffs, shuttering facilities; reduce employee benefits and the like.

Short term benefits seldom give desirable results. Such short term measures often lead to disaster when the tide turns in favor. It is important, therefore, to reduce cost on sustainable basis. This involves improving efficiency in operations and improving effectiveness.

Our cost excellence solution bring real cost reduction using machine learning through the following:

  • Spend classification using machine learning algorithms
  • Cost analysis through interactive visualization
  • Internal and external benchmarking
  • Monitoring variance from budget
  • Detailed insight into procurement spends