The Premier Business Leadership Series, LAS VEGAS, Oct. 28 /CNW/ - Organizations in areas such as banking, insurance, government and healthcare need to stay one step ahead of criminals and better manage investigations of fraud and other financial crimes. New software from SAS, the leader in business analytics (http://www.sas.com/businessanalytics/) software and services, arms investigators with the analytical power to streamline processes and investigations, helping to reduce costs and improve fraud prevention. SAS(R) Enterprise Case Management (http://www.sas.com/solutions/fraud/case-management/index.html) is the latest component to the recently announced SAS Fraud Framework (http://www.sas.com/solutions/fraud/index.html).
A 2008 survey by the Association of Certified Fraud Examiners (ACFE) revealed that 90 percent of ACFE member companies expect fraud to continue growing, with internal fraud increasing most rapidly. A recent TowerGroup report(1) in August 2009 found "case management can contribute a return on investment beyond fraud and risk mitigation by reducing operating costs and even uncovering new business opportunities. Case management offers an effective and automated means to leverage data used in fraud investigation for marketing and proactive customer outreach to improve retention."
"Leading case management technologies will make it easier to see, aggregate, and integrate operational and other firmwide risks while helping to mitigate the cost and complexity of compliance," said Rodney Nelsestuen, Senior Research Director at TowerGroup and author of the August 2009 report.
Case management, the backbone of documenting investigations, provides information for financial reporting, such as fraud losses, and is the primary resource for filing regulatory reports to government agencies. In addition, the disposition of cases under investigation is a critical element to enhance future monitoring and overall operational efficiencies of the organization.
Other advantages of SAS Enterprise Case Management include integrating information from siloed monitoring systems used by other lines of business, products, or channels. The system offers a triage queue where users can review work items sent to the system automatically prior to appending to an existing case, creating a new case, or closing the work item. SAS Enterprise Case Management pre-populates forms and automatically prepares batch reports to help the user meet e-filing standards for regulatory submission. The system includes interactive dashboards that enable management to analyze operational performance of investigative functions and recognize trends to provide improved oversight and governance of risk management practices.
Today's announcement came at The Premier Business Leadership Series (http://www.sas.com/events/pbls/2009/las-vegas/index.html) event in Las Vegas, a business conference presented by SAS that brings together more than 600 attendees from the public and private sectors to share ideas on critical business issues.
(1) TowerGroup. The Evolution of Case Management: Converging Fraud, Risk,
and Opportunity Management, Rodney Nelsestuen, August 31, 2009.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 45,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world THE POWER TO KNOW(R). www.sas.com
The Canadian subsidiary of SAS has been in operation for 21 years. Headquartered in Toronto, SAS employs 240 people across the country at its Vancouver, Calgary, Toronto, Ottawa, Quebec City and Montréal offices.
SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. (R) indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright (C) 2009 SAS Institute Inc. All rights reserved.
SOURCE SAS Canada
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