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Which is more risky to a university’s finances and reputation, the purchase of a $4 beer or $4,000 worth of cloud computing services?
It depends on whether the funding source for the beer is subject to federal funding or grant rules prohibiting such expenditures and whether the cloud services are being purchased with proper contractual controls.
Details matter. Universities and other organizations processing high volumes of diverse spending transactions often don’t have the resources to check every purchase. Those using FICO® Falcon® Assurance Navigator have the advantage of intelligent software continuously monitoring 100% of their transactions in detail, in real time. The software can automatically stop improper purchases or generate cases for investigation.
To help organizations make the most of their investigative resources and focus on what’s most important, the software identifies transactions with the highest risk. It also spots unusual transaction behavior and picks up signs of systemic risk, including small transactions that could have cumulative impact.