Corporate

Comply with internal controls and protect your business from fraud and losses.

Stop fraud, waste and abuse

Losses due to fraud can come from both employees and outside sources. Often the lack of internal controls or segregation of duties can be the opportunities for individuals to victimize businesses.

Areas where corporations can add continuous controls monitoring to reduce losses due to waste, abuse and fraud include:

Payment processes, including purchase cards and payroll
Expenses including travel and entertainment expenses
Tax compliance
Customs compliance
Retail monitoring

TRANSFORM YOUR CCM PROGRAM

Features & Benefits

Transaction Screening

Monitor all transactions to intercept suspicious activities for investigation

Advanced Analytics

Detect complex fraud schemes across departments and systems

Risk Scoring

Realistic assessment of risks based on entity profile and activity that is configurable

Due Diligence

Real-time risk intelligence during onboarding so you know who you are doing business with

Dashboards

Quickly evaluate program performance and identify sources of revenue leakage

Tools

Configurable workflows and case management tools for investigations and remediation

Diligently onboard vendors and customers

Alessa integrates with onboarding systems, risk intelligence data and identity verification solutions to confirm the identity of new customers and vendors and screen against external sources such as OFAC, third-party politically exposed persons (PEPs), sanctions and internal lists – all from one application.

Get a true picture of risks

Alessa leverages data from various sources, including sanctions lists, to provide a risk score that provides a realistic assessment of the potential risks associated with an entity.

Alessa can also periodically review an organization’s existing customer base and update their risk level based on their activity, as well as data from third-party lists.

Screening Best Practices

Detect fraud, misuse and abuse

Avoid costly investigations and prosecutions by detecting potentially fraudulent behavior and transactions in P-Card, travel and entertainment (T&E) and other procurement and expense management processes.

Use data to build program-level metrics and detect waste and abuse such as elevated liabilities, out-of-policy purchases, use of non-preferred vendors and more.

Prevent improper payments

Immediately detect fraudulent, erroneous or duplicate payments and avoid business transactions with unapproved or potentially duplicate vendors.

Tips on Managing Loss

Eliminate Cost-Recovery Services

There is a heavy cost associated with cost recovery services. It is better to instead avoid erroneous or fraudulent payments. Identify and resolve control failures as they occur, eliminating reliance on post-recovery audits and cost recovery services.

Protect against vendor risks

Screen in real time during onboarding and continuously afterward to avoid doing business with risky vendors. Develop vendor profiles, enforce vendor selection and usage policies, and implement fraud detection analytics.

Vendor Risk Management