BKD Analytics, a national practice unit of BKD CPAs and Advisors, has announced the rollout of a new addition to its suite of products called Payment Risk Analytics.
The firm said that with the ever-growing, complex landscapes in which organizations operate in, fraudulent behavior “can be difficult to detect” and as such the tool will aim to help identify areas for process improvement, conflicts of interest and assist in the detection of fraud.
It said Payment Risk Analytics examines whole data sets instead of samples to help provide better insight into data and includes three focus areas: Accounts Payable Risk Analytics, Purchasing Card Risk Analytics and Payroll Risk Analytics.
Annie Laudick, senior consultant, said: “Company boards, management, compliance and finance individuals likely worry to some extent about their exposure to the risk of fraud within their organization.
“We have harnessed the experience of our firm’s fraud investigators and data analytics experts to create proprietary algorithms to detect patterns consistent with fraud, waste and abuse.”
Director Tom Haldiman added: “Clients often do not have the internal resources or software capabilities to perform the level of analytics BKD Analytics is able to perform. We’re excited to help our clients leverage the power of their data with this new product.”