FICO Solution for Identifying Procurement Fraud, Waste and Abuse Now on Amazon Web Services (AWS)

MIAMI BEACH, Fla., April 18, 2018 /PRNewswire/ -- FICO World 2018

• FICO^® Falcon^® Assurance Navigator is now available on AWS.
• FICO^® Falcon^® Assurance Navigator applies advanced analytics to monitor the entire procure-to-pay lifecycle across procurement, T&E expenses, and purchasing/travel cards, as well as suspicious vendor behavior.

At its FICO^® World 2018 conference in Miami Beach, analytics software firm FICO announced that the latest version of its solution for identify fraud, waste and abuse in procurement is now available on AWS. FICO^® Falcon^® Assurance Navigator applies advanced analytics to monitor the entire procure-to-pay lifecycle across procurement, T&E expenses, and purchasing/travel cards, as well as suspicious vendor behavior.

More information: http://www.fico.com/en/products/fico-falcon-assurance-navigator

"In today's era of greater corporate accountability, it's absolutely essential for organizations to take a comprehensive and systematic approach to rooting out unauthorized, wasteful or fraudulent spending activity," said Doug Clare, vice president of product management at FICO. "However, this is hard, because spending is spread across multiple systems. This results in internal audits that are manually intensive and focused on a small subset of transactions. By leveraging advanced analytics and continuous monitoring of all transactions, we help organizations identify far more unusual or incorrect transactions, and give their audit teams the time to focus on transactions and patterns that really need their attention."

Falcon Assurance Navigator analyzes a broad spectrum of transactions, including T&E expenses, purchase requisitions, purchase orders, invoices, payment requests, purchasing and travel cards. The solution applies a risk-based approach that helps organizations adhere to multiple compliance regimes, including in-house policies, government and private grant requirements, and departmental guidelines.

"Falcon Assurance Navigator on AWS combines the power of FICO advanced analytics and the benefits of AWS," Clare said. "FICO customers now have a lower-cost solution that can dynamically scale to handle challenging swings in transaction volumes as well as high loads during peak usage."

FICO^® Falcon^® Assurance Navigator integrates with enterprise procurement and expense management systems including Oracle, PeopleSoft, Jaggaer, and Concur in order to monitor 100 percent of transactions in-line.

FICO^® World 2018 runs through April 19 in Miami Beach, Florida. More than 1,000 business leaders from 50+ countries are attending to explore new ideas, technologies and solutions in AI, advanced analytics and decision management.

About FICO
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 185 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time. Learn more at http://www.fico.com.

Join the conversation at https://twitter.com/fico & http://www.fico.com/en/blogs/

For FICO news and media resources, visit www.fico.com/news.

FICO and Falcon are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.

SOURCE FICO

Related Links

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