Although most companies are confident in the integrity of their general internal controls…….
the complexity of the procurement process,
the potential for fraud at all phases of the process,
the involvement of many people, and
the sheer number of transactions combined is making detection of fraud, waste and abuse a challenge.
Fraud, waste, and abuse is usually discovered by auditors after the losses have occurred, if at all.
Our procurement review will assist you to pro-actively identify irregularities in your procurement cycles, manage procurement risks more intelligently, enhance your systems, and improve your data integrity. Issues identified by our review can assist you to achieve significant savings.
The process includes the following steps
- Gathering electronic information relating to procurement (Vendor master, Purchase orders, Invoices, Payments, etc)
- Standardizing and conforming data received
- Identifying relationship links (links between vendors and links between vendors and employees)
- Performing up to 50 forensic (red flag) tests against the data using a risk scoring approach
- Presenting results in a web based front end that includes the following
- Summary of results per forensic test with the ability to drill down to the detail
- Risk score calculated per vendor and employee
- Geo coding of vendor addresses, displaying vendors and high-risk vendors on a map
- Network visualization displaying relationship links
Apart from the vendor independent trainings, we also present vendor specific training for Accessdata and Cellebrite for mobile forensic training.
At FACTS we develop custom software in-house to support our cyber forensics and data analytics key specialisations.
From our experience in large scale investigations we developed SKYNET, a collaborative investigation platform which support teams of investigators to conduct investigations in small and big data scenarios. Since 2015, this platform has been used for large and small scale investigations ranging from one team member up to 40 team members searching through hundreds of millions of documents and emails. As part of the SKYNET technology is in house built Encase Enscripts and other software to normalise and structure evidence from most leading software vendors including Accessdata (FTK) ,Guidance (ENCASE) ,Cellebrite, Getdata (FORENSIC EXPLORER),Magnet (AXIOM) and XRY into one unified data set in SKYNET.
Included in the technology of SKYNET is in-house built Encase Enscripts and software to normalise and structure evidence from most leading software vendors such as
- Accessdata (FTK)
- OpenText Encase
- Getdata (FORENSIC EXPLORER)
- Magnet (AXIOM)
into one unified data set in SKYNET. During the data preparation process, duplicate emails and documents are also detected and excluded to reduce the amount of data the analysts will be presented with.
The capability to instantly search millions of records from e-mails, whatsapps, operating system metadata such as event logs and internet activity and apply time based and content based filters from hundreds of devices makes this platform extremely powerful and enables the analyst or investigators to find the “smoking gun” or conclude a legal process quickly and efficiently. This solution is a hosted solution.
FACTS is a gold partner of SAS and also the premier accredited SAS technology and solution partner within the Fraud & Security Intelligence practice.
FACTS has extensive experience in the design, development, implementation and support of various SAS solutions and products as well as working in a forensic environment. It is this specific knowledge based on business processes and experience obtained over the past years of systems implementation that places us in a position to deliver on SAS implementations.
A team of FACTS subject matter experts and data specialists developed the Procurement Integrity Solution for SAS, the global leader in analytics software. The solution, which proactively monitors and detects fraudulent activity, has since been implemented in two of South Africa’s major banks, a major utility provider and one of the largest oil and gas companies in the world. It has also been adopted as a formal SAS product, making FACTS one of the first small businesses to become a premier SAS partner.
FACTS has the ability to tailor specific data solutions allowing our experts to customise analytics according to your organisation’s needs, irrespective of whether it is forensic-related or not.
We use sophisticated data collection technology and analysis to wring every last drop of value from your business data. Our analysts possess top-notch quantitative analysis and interpretation skills that allows us to explain complex technical data, simply.
Some of our services:
- Solving complex reconciliation problems on “Big Data”
- Customised analytics to identify trends and/or anomalies hidden in huge volumes of data
- Cashflow analysis
- Procurement Analytics
- Ad-Hoc Analytics to support investigation processes
The FACTS team has a collective experience of more than 50 years in high tech crime related investigations and services focus on the following areas:
- Cyber forensic investigations.
- Incident handling or IT security breach investigations.
- Theft of Intellectual property (software or application) assessment and analysis.
- Advanced smart phone data extraction and analysis.
- Open source intelligence investigations.
- E-discovery and investigation support and hosting platform (SKYNET).
- Custom and vendor specific training in various leading forensic products.
- Cryptocurrency or block chain related transactional analysis and investigations.
In each of the above areas or service offerings, we have applied our investigative and technical skills to build custom software solutions to help us and our clients conduct investigations or assessments efficiently and as cost effective as possible. We have various in-house developed non vendor specific training packages. The list of current in house training modules available can be seen below :
- Forensic First responder training
- Mobile forensic training
- Open Source intelligence training
- Mac forensic investigation training.