SAP announced in March that they were unveiling a new software to fight the escalating risk of fraud. SAP Fraud Management, powered by SAP HANA, aids those in industries such as insurance, public sector, banking, and healthcare, to detect fraud by analyzing huge amounts of data to detect potential fraud.
It was found that in 2011 the average corporation lost 5% of their revenue to fraud, with the total amount of loss adding up to $3.5 trillion. SAP Fraud Management aims to help companies address and tackle:
- The potential significant losses from fraud
- The high cost and effort of fraud investigation and false alarms
- The difficulties in keeping track of changing fraud-related behaviors
- The inadequate or obsolete detection capabilities associated with new fraud
To learn more about SAP Fraud Management and how it can help your company will fraud-related loss, click the green button below.
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