Tag Archives: Government

Risk & Compliance Five Ways To Save Money Every Government Department Should Know About

Five Ways To Save Money Every Government Department Should Know About
Mar272018

There are significant opportunities for government and higher ed institutions to reduce their procurement and travel expenses using predictive analytics. Historically, building analytical models had been a challenge due to the complexities of analyzing data across the entire procure-to-pay cycle.  Data are often disjoined across ERP, Procurement, Travel, and P-Card systems. Even when data is available it is often spread across multiple tables within complex databases. Also, once data is extracted, it is stored in different formats, and it can require significant manual manipulation. However, new tools are in place that can now automatically consolidate this data, and analytics can provide valuable insights to reduce costs and risk to organizations. Through this risk modeling, waste, fraud and abuse can be found and corrected, before any financial outlays take place, saving millions of dollars per year. Here are five ways to save money every government department should know about. 1) Use Scores... [Read More]

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Risk & Compliance Identifying Tax Fraud through Social Network Analysis

Tax Fraud: Finding the hidden connections
Mar152018

Social Network Analysis (SNA) tools hold the potential to help tax and revenue agencies identify non-compliance and tax fraud.  These tools have been proven to be effective in fraud detection¹, but to date haven’t been utilized to any large degree at tax agencies.  This blog describes what an SNA tool is, and how it can be utilized at a tax agency. Social Networking Analysis Explained SNA is an analytic approach of correlating people, entities and relationships to determine how tightly an individual or business is related to others who have known compliance issues.  These relationships can be from shared phone numbers, physical addresses, bank accounts, credit cards, or any other connection that is available through data capture.  The results of the SNA can show the risk that a specific individual or business presents, based on their relationship with others who have known issues within the network.  As can be seen... [Read More]

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Collections & Recovery How Smart Government Agencies Collect More Debt (Video)

Collections video leader
Mar262015

Declining revenues, customers who won’t pay, overworked collectors — government agencies face the same challenges as anyone else collecting debt.  One agency that found a good solution is Shelby County, Tennessee. As Debra Gates, chief administrative officer for Shelby County Trustee, explains in this video, the department decided to close a revenue shortfall not by raising taxes but by going after accounts receivable. “The reason that we chose FICO was, first of all, their experience with government,” Gates says. The flexibility and open architecture of FICO Debt Manager were also important points.” And the results? “During the first 120 days of our collection activity for 2013, we collected an additional $6 million, which was about 80 basis points above what we’d collected in prior years,” Gates says. “The employees have really bought into FICO Debt Manager. It has made our staff more efficient and more effective at what they do,... [Read More]

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Analytics & Optimization The Role of Predictive Analytics in the Sub-Prime Crisis

Nov062008

-- Posted by Carole-Ann Being part of Fair Isaac, I have never really doubted the critical role predictive analytics could play in business.  I see real-life examples day in and day out but when I read the New-York Times article http://www.nytimes.com/2008/10/05/business/05fannie.html?partner=permalink&exprod=permalink, I found one that was painfully telling… Let me point your attention to a few points that CHARLES DUHIGG makes in this investigation.  I will not comment though on the politics involved. Fannie Mae has been playing a crucial role for the lending industry as we all know.  Their early success relied on their ability to predict which borrowers would be able to repay, assessing the premium required to compensate for the risk they took.  With an effective model, you can pinpoint good risk versus bad risk and therefore make safe decisions that ensure the business will prosper.  This is pretty much the essence of predictive analytics: once you know the probability to repay for people with a given set of...

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Analytics & Optimization BEA on Event Driven Architecture Sounds a lot like EDM

Mar212008

(Posted by guest Blogger, Gib Bassett) Yesterday BEA Systems released a white paper summarizing their findings of a customer study regarding Business Process Management (BPM).  The paper is titled “The State of the BPM Market – Business and IT: Solving Process Problems Together.”  BEA also culled through numerous analyst and other industry expert insights to narrow in on the key trends driving adoption of BPM related technologies.  There were two especially notable items in the report that show an Enterprise Decision Management (EDM) approach to operational decision automation, connection and improvement is becoming an increasingly mainstream concept – even if the term EDM isn’t the label. First, the report connects BPM to the growing trend toward Event Driven Architecture (EDA), a term applied by IDC in 2007 to describe an IT infrastructure blending: “Event Middleware and Complex Event Processing,” “Event-Enabled BPM Suite,” “Event-Enabled Process Modeling,” and “Business Analyst Skill Set.”  The business driver for...

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Analytics & Optimization EDM Helps Minimize Trade Offs Between Application Maintenance and Strategic Initiatives – So Says Forrester Research

Mar052008

(Posted by guest Blogger, Gib Bassett) While Enterprise Decision Management (EDM) is not called out specifically in Forrester Research’s January 28 report, “The State Of Enterprise Software Adoption: 2007 To 2008,” it describes issues top of mind among technology executives addressable with EDM technologies, such as Business Rules Management Systems (BRMSs).  The report is based on results of a survey of 1,017 IT decision-makers in North American- and European-based enterprises. One of the principal values of BRMS is that they streamline application maintenance by simplifying the process of changing application logic while also enabling others outside the IT organization to become involved in that process (i.e. the business domain experts most often familiar with that logic).  The net benefit to the IT organization is greater productivity while also being more responsive to organizational changes that typically cascades to applications.  For this very reason, IT decision makers should evaluate a BRMS as part of their technology initiatives,...

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Analytics & Optimization Gartner’s 2008 Predictions Include Bright Future for Enterprise Decision Management

Jan022008

(Posted by guest Blogger, Gib Bassett) Gartner recently issued two “Predicts: 2008” reports highlighting their expectations for Enterprise Architecture and the Business Process Management Suites (BPMS) Market.  Both recognize noteworthy and highly complementary trends reflecting the value of Enterprise Decision Management (EDM), particularly Business Rules Management Systems (BRMSs) supporting EDM principles. In the most recent report, issued December 11, 2007, and titled “Business Process Management Alters Business and IT Collaboration,” Gartner predicts that “BPMS Subsumes the Business Rule Market,” primarily due to the fact a baseline rules engine is a required component within a BPMS:“Strategic Planning Assumption: By 2012, the BPMS technology market will subsume greater than 80% of the pure-play business rule technology sector (for example, stand-alone business rule engines).”Readers should not mistake this statement as implying the market for Business Rules Management Systems will be subsumed, which is not likely simply because a BRMS...

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Analytics & Optimization While Forrester Envisions Consolidation for the 3 “Bs”, it’s Happening for Apps and BI Vendors

Oct082007

(Posted by guest Blogger, Gib Bassett) Cognos and Microstrategy are the two remaining independent Business Intelligence (BI) software giants following today’s news that SAP was purchasing Business Objects.  Speculation was building online last week that a deal was in the works and in fact for much of this year since Oracle purchased Hyperion, such rumors have been the case.  As I mention in my prior blog about Forrester's prediction of convergence among BI, Business Process Management and Business Rules vendors, firms like Business Objects and SAP used to market against one another, the former espousing the benefits of an enterprise view of data, reporting and analysis, and the other the same, but with deeper functionality and built for the applications producing the data.  A few years and many joint customers later, it’s easy to see why this consolidation is taking place, and it should only become more common as the remaining vendors continue to evolve their product sets around Services Oriented Architectures (SOA) and web services. It...

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Analytics & Optimization Decision Management at the Heart of Future Enterprise Applications, so Says Forrester Research

Sep302007

(Posted by guest Blogger, Gib Bassett) Respected technology prognosticators John Rymer and Connie Moore of Forrester Research just published a new paper titled, “The Dynamic Business Applications Imperative” (September 24, 2007, For CIOs).  Rymer and Moore envision a new generation of enterprise application that some IT organizations today are cobbling together in order to meet ever changing business, technical and marketplace requirements.  The paper is peppered with examples of what they term “Dynamic Business Applications” in use at many household name companies.  At the heart of their idea is integration of the “B3 categories” of software – Business Intelligence (BI), Business Process Management (BPM) and Business Rules – that together with Services Oriented Architecture (SOA) will lead to a more agile platform for the mass market composite applications of the future. There are far too many interesting points to write about here, but some of those I found particularly applicable to Enterprise Decision Management (EDM) were: ...

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