The rate at which companies are becoming subject to fraud is on the rise.
PwC’s 2018 Global Economic Crime and Fraud Survey states that for the Enterprises, fighting fraud is becoming a core business issue. That’s because the scale and impact of fraud has grown immensely in today’s digitally enabled world. Indeed, it can almost be seen as a big business in its own right – one that is tech-enabled, innovative, opportunistic and pervasive. Think of it as the biggest competitor you didn’t know you had.
Enterprises store enormous amounts of data in multiple SAP systems such as ERP, HR, S/4 HANA. Every day, thousands of business transactions are processed and imprinted in these systems, making them the most important asset to protect.
Securing business transactions by detecting fraudulent and suspicious business activities in real time, is the main purpose of Skywind 4C™ Fraud Management platform.
Skywind 4C™ enables digitization of fraud management, protecting our clients 365 days a year around a clock. Our software is agnostic to SAP versions and database types meaning that if you start your journey with us on either “Legacy” SAP system (e.g. R/3 or ECC etc.) and you are decided to move to S/4, we will continue to provide you with our services without any interruption or re-deployment.
Skywind 4C™ unique technology serves On Premise, Cloud and Hybrid client’s SAP installations.
Below we present a number of cases that Skywind 4C™ platform helps to catch and prevent.
Financial Statement Fraud
4C™ Financial Statement Fraud alert pack examples:
Differences in booked vs. counted inventory
Excessive credit memos for each payer
Inactive Vendor having an open balance
Self approved PO’s and PR’s
Detection of bad debts
4C™ Asset Misappropriation/Corruption alert pack examples:
Credit block cancellation and credit limit change
PR and corresponding to it PO prices are different
Short-term bank credentials change in vendor master
Change of purchase order price (master, document)
Change of payment terms in vendor / customer master
A bit of technology and UI/UX – Skywind 4C™