FICO® Falcon® Assurance Navigator

FICO® Falcon® Assurance Navigator

Continuous, data-driven financial controls in the Procure to Pay Cycle.

Product Details

The controls used to gauge fiscal responsibility are evolving. Analytics and Big Data technologies are removing the constraints of manual processes and enabling new approaches to financial stewardship.

FICO® Falcon® Assurance Navigator allows CFOs and CPOs to continually monitor 100% of spend, including discretionary expenses, for indications of non-compliance or abuse. This expanded transaction coverage means organizations can now evolve from partial detection of noncompliant spend towards comprehensive prevention of risk.

 

Stronger Oversight

Prepare for more analytically based audit strategies and take a proactive approach to more stringent A-81 audits with continual monitoring of the procure to pay cycle.

Continuous Monitoring

Employ a two-pronged approach to risk management. Assess risk using both expert rules as well as objective, statistical algorithms designed to identify outlier behavior.

Comprehensive Controls

Apply different risk criteria for award dollars and general funds. Monitor all transactions while placing special emphasis on high priority funds with greater downstream risk.

FICO® Falcon® Assurance Navigator relies on FICO’s 25 years of anomalous transaction detection experience to deliver a cutting-edge, data-driven approach to spend control and audit preparedness. The solution applies text analytics, optical character recognition, outlier detection algorithms, and expert rules to continuously monitor all transactions for indicators of non-compliance, excessive spending and fraud.

FICO<sup>®</sup> Falcon<sup>®</sup> Assurance Navigator

‌ Continuous risk monitoring across the procure to pay cycle.

‌ Comprehensive coverage – evaluate all actions as they occur.

‌ Focused analytics pinpoint the transactions and lines requiring review.

‌ Automate more, lowering overall manual review volume and spend less time investigating each case.

‌ Scoring models automatically update to prioritize repeat offenders.

‌ Workflows enable cross-functional review and decisioning.

‌ Fuzzy matching enables ad-hoc monitoring based on user input.

‌ Visualizations demonstrate outcomes and trends over time.

‌ Pre-packaged strategies specifically comply with A-81 guidelines.

Resources

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FICO® Falcon® Assurance Navigator For P-Card Management

Meet Sally. She’s a p-card specialist in a large university’s accounts payable department. Sally is on the fiscal team that ensures the university’s p-card program works well to support professors, researchers and staff who make purchas...
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FICO® Falcon® Assurance Navigator For Travel and Expense Management

Meet Ross. He’s a travel and expense specialist in a large university’s accounts payable department. Ross is a member of the team that reimburses professors, researchers and staff for travel and other expenses. He knows he plays an impo...
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FICO® Falcon® Assurance Navigator For Invoice Processing

Meet Carmen. She supervises the invoice processing team in a large university’s accounts payable department. Carmen and her team are responsible for verifying and approving the continual flow of invoices from the university’s large, div...
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Webinar Reducing Spend and Risk using powerful procure-to-pay analytics

Large universities spend billions of dollars each year, a significant portion of which comes from government and private grants. Most universities monitor this spending using multiple disparate systems and manual efforts supporting the pro...