Procurement Monitoring
A procurement monitoring solution that prevents revenue loss from fraud, waste and abuse.
Gain control of expenses
Alessa offers a transaction monitoring and fraud detection platform that prevents revenue loss from fraud, abuse and waste in expense and procurement programs. Designed for public and private institutions of all sizes, it is configurable as an end-to-end enterprise solution or as a modular solution for comprehensive:
- Purchasing card (P-Card) monitoring
- Travel and entertainment (T&E) expenses monitoring
- Anti-bribery, anti-corruption (ABAC)
- Vendor risk management
- Materials management
Features and Benefits
Managing Vendor Risk
Know who you are doing business with and whether you should do business with them
Payments Screening
Monitor all transactions and actively block suspicious activities for investigation
Advanced Analytics
To detect complex fraud schemes across departments and systems
Risk Scoring
Realistic assessment of risks based on entity profile and activity that is configurable
Investigation Tools
Configurable workflows and case management tools for investigations and remediation
Dashboards
Quickly evaluate program performance and identify sources of revenue leakage
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.
Eliminate cost-recovery services
Identify and resolve control failures as they occur, eliminating reliance on post-recovery audits and cost recovery services.
Protect against vendor risks
Use real-time screening during onboarding and continuous vendor screening against sanctions and internal lists to avoid doing business with risky vendors. Develop vendor profiles, enforce vendor selection and usage policies, and implement fraud detection analytics.
RELEVANT SOLUTIONS
Controls Monitoring
Continuously monitor internal controls, flag high-risk issues, improving business processes and business performance and more.
Fraud Prevention
Enterprise-wide controls that analyze data from any source, simplify data management, and use advanced analytics to detect anomalies, breakdowns and fraud.
Sanctions Screening
Screen customers, vendors and businesses in real-time during on-boarding, periodically or in batches to ensure that you know who you are doing business with.