Fraud and Error Reduction

Improve Bottom-Line Performance: Reduce Errors and Leakage. Minimize Fraud and Abuse. Improve Audit Efficiency.

In the aftermath of the global financial crisis and increased scrutiny of corruption by regulators as well as shareholders, many organizations are looking to better manage and protect themselves against internal or occupational fraud. In addition, greater transaction volumes and automation of business processes—while enhancing productivity and efficiency, has also increased the financial impact that unintentional errors and waste can have on a company's bottom-line performance.

To better identify and minimize fraud and errors in today's fast-paced and interconnected business environment, Oracle's Fusion GRC Applications Suite delivers advanced pattern-based detection and analysis tools combined with continuous, automated monitoring of transactions and controls that are embedded directly into your ERP applications. The Fusion GRC Applications Suite reveals incidents and anomalies often missed by traditional sampling methods, applying the same analytic techniques as those used by forensic auditors. And with integrated incident management and workflow, you can respond to identified risks and violations as they occur and prevent problems before they escalate.

ORACLE FUSION GRC PRODUCTS FOR FRAUD AND ERROR REDUCTION

ONLY ORACLE OFFERS SIGNIFICANT BENEFITS

Leverage Gain Accomplish
Fusion GRC Suite Reduction in transaction errors and waste across financial and business processes
  • Improve cash management and reduce AP violations with embedded ERP controls and remediation workflow
  • Identify exceptions missed by traditional controls and audit with continuous monitoring and pattern based analysis
  • Proactively prevent errors and process violations through real time, automated alerts
  Improved detection and prevention of occupational fraud and abuse
  • Detect and respond to frauds faster with integrated controls and dashboard analytics
  • Deter fraudsters with continuous monitoring and automated audit trails to capture system/data changes
  • Automate transaction governance across complex and vulnerable business process like procure-to-pay and order-to-cash
  Increased audit efficiency for greater reporting confidence and reduced recovery costs
  • Expand audit coverage by analyzing 100% of transactions across multiple systems
  • Investigate fewer incidents with advanced analytics that eliminate false positives and prioritize high risk transactions
  • Reduce post audit recovery and collections costs through proactive, preventive controls
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