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How Stanford is using analytics to detect fraud and abuse

Increasingly sophisticated government audits—and the sheer volume of transactions—have prompted Stanford to trade in its manual in-house audits for an analytics-driven solution.

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How do you identify fraud, waste, and abuse when your procurement office handles more than a million transactions a year and USD 2,2 billion in disbursements? Manually, if you're Stanford University, just like most institutions of higher education do. But, faced with a changing audit landscape, the California school is now looking to analytics to help detect transaction irregularities.