FICO® Falcon® Assurance Navigator

FICO® Falcon® Assurance Navigator

Continuous, data-driven financial controls.

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. For universities receiving federal awards, this new approach to risk management can help protect existing grants while preserving eligibility for future awards.

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
  • 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 federal funds due to the potential for greater downstream risk.

FICO® Falcon® Assurance Navigator relies on FICO’s 25 years of anomalous transaction detection experience to deliver a new, 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

‌  Specific strategies to comply with A-81 guidelines.

‌  Continuous risk monitoring across the procure to pay cycle.

‌  Comprehensive coverage – evaluate all actions as they occur in the system.

‌  Focused analytics target the transactions and lines requiring review.

‌  Less time spent investigating each case.

‌  Lower overall manual review volume.

‌  Scoring models Auto-update to prioritize repeat offenders.

‌  Custom workflows enable cross-functional review and decisioning.

‌  Elastic search enables ad-hoc monitoring based on user input.

‌  Visualizations demonstrate outcomes and trends over time.

Resources

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Are Your Analytics Delivering Results?

The word “analytics” means different things to different people. Depending on the analytical maturity of your organization, analytics could mean reports on your performance, predictive models or fully optimized analytic decisions. No ma...
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FICO® Falcon® Assurance Navigator

With their high volume of transactions, universities do not have the staff to manually review 100% of procure-to-pay transactions. FICO® Falcon® Assurance Navigator enables organizations to continually monitor 100% of spend from procuremen...
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FICO® Falcon® Assurance Navigator

States and local governments are not resourced to manually review 100% of financial transactions. By definition, sampling means that not all transactions are reviewed. FICO® Falcon® Assurance Navigator enables government entities to contin...
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FICO® Falcon® Assurance Navigator

FICO® Falcon® Assurance Navigator is a turnkey approach to identifying improper spending that: Continually monitors 100% of expenses for indications of noncompliance or excessive spending  Reduces time per case and manual revi...