At its FICO World 2018 conference in Miami Beach analytics software firm FICO announced that the latest version of its solution for identify fraud waste and abuse in procurement is now available on AWS FICO Falcon Assurance Navigator applies advanced analytics to monitor the entire procure-to-pay lifecycle across procurement T E expenses and purchasing travel cards as well as suspicious vendor behavior In todays era of greater corporate accountability its absolutely essential for organizations to take a comprehensive and systematic approach to rooting out unauthorized wasteful or fraudulent spending activity said Doug Clare vice president of product management at FICO However this is hard because spending is spread across multiple systems This results in internal audits that are manually intensive and focused on a small subset of transactions By leveraging advanced analytics and continuous monitoring of all transactions we help organizations identify far more unusual or incorrect transactions and give their audit teams the time to focus on transactions and patterns that really need their attention Falcon Assurance Navigator analyzes a broad spectrum of transactions including T E expenses purchase requisitions purchase orders invoices payment requests purchasing and travel cards The solution applies a risk-based approach that helps organizations adhere to multiple compliance regimes including in-house policies government and private grant requirements and departmental guidelines Falcon Assurance Navigator on AWS combines the power of FICO advanced analytics and the benefits of AWS Clare said FICO customers now have a lower-cost solution that can dynamically scale to handle challenging swings in transaction volumes as well as high loads during peak usage FICO Falcon Assurance Navigator integrates with enterprise procurement and expense management systems including Oracle PeopleSoft Jaggaer and Concur in order to monitor 100 percent of transactions in-line FICO World 2018 runs through April 19 in Miami Beach Florida More than 1 000 business leaders from 50 countries are attending to explore new ideas technologies and solutions in AI advanced analytics and decision management About FICO FICO NYSE FICO powers decisions that help people and businesses around the world prosper Founded in 1956 and based in Silicon Valley the company is a pioneer in the use of predictive analytics and data science to improve operational decisions FICO holds more than 185 US and foreign patents on technologies that increase profitability customer satisfaction and growth for businesses in financial services telecommunications health care retail and many other industries Using FICO solutions businesses in more than 100 countries do everything from protecting 26 billion payment cards from fraud to helping people get credit to ensuring that millions of airplanes and rental cars are in the right place at the right time Learn more at http wwwficocom FICO and Falcon are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries SOURCE FICO