Procurement Fraud Detection Solution

Kaizen

Global Electronics Manufacturer

CHALLENGE

  • Client was experiencing increasing procurement fraud cases, with concerns in high-risk regions
  • Corporate Audit Committee identified need for improved data and analytics to support fraud
    detection and investigation at scale to reduce fraud risk
  • Existing compliance tools were limited to ad hoc reports and data requests, meaning they were
    highly-manual, time intensive, and took months to refresh

SOLUTION

  • Conducted 4-week assessment to review available data, evaluate existing tools, and prioritize compliance issues/opportunities
  • Delivered Split-PO anomaly detection prototype in 5 weeks
  • Automated, on-demand dashboard implemented in 2 additional weeks
  • Expanded solution to include supplier favoritism detection through risk scoring (collusion, COI, kickbacks, etc.)

RESULTS

  • Project payback achieved in one month with identification of only 1 Split-PO fraud case
  • 20% improvement in investigation efficiency
  • Fully-qualified fraud cases increased by 22%
  • 42% Incremental Procurement Cost Recovery through detection of ‘unseen’ fraud

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