We empower companies to enable trust in their procurement process through a distinctive combination of predictive modeling, artificial intelligence, and integrated forensic capabilities, to proactively detect, investigate and anticipate fraud. Our scalable, cost-effective solution helps reduce the impact of fraud, waste and abuse to organizations by allowing for maximum detection, investigation and reporting capabilities while minimizing wasted time and effort.
Our PI solution is powered by SAS’s advanced analytics platform, which is specifically designed to continuously monitor fraud, and by the KPMG Forensic network of 3,000+ skilled forensic professionals who customize the solution based on industry, geography and client factors.
All organizations that rely on external vendors, suppliers or other third parties have procedures and controls in place to make sure they obtain the correct items at the right time. But like any other business process, the procurement process is never perfect. Both honest mistakes and fraudulent activity can adversely affect the financial and reputational health of the organization.
Duplicate invoices, ghost vendors, false invoices, billed goods that aren’t requisitioned and/or delivered, and billed goods that have an excessive price― organizations face all of these risks in their procurement processes. Circumvention of procurement controls has affected about 75 percent of organizations in the last three years, including Fortune 500 companies, small businesses and government agencies. In addition to the financial losses, there is significant risk to reputation and brand when these events are aired publicly in the media. Depending on the industry, significant regulatory fines are also a risk.
That’s where SAS and KPMG’s Procurement Integrity (PI) solution comes in. Our industry leading solution for procurement integrity monitoring empowers businesses to proactively detect, investigate and mitigate fraud in the procurement process.