Automating Data Capture to Accelerate Fraud Investigation

Financial Investigation Automation

Financial fraud investigation is one of the most difficult cases an examiner may have. One has to utilize extensive financial investigative methods to trace a lifetime of financial documents, from tax returns and bank statements to hidden assets and hidden income.

This process alone costs the fraud examiner about 60 percent of the investigation time. What if there was a way to automate the data collection process and cut that time by 90 percent? With advanced data capture software, examiners across the U.S. are collecting, cleansing and enriching financial data in a matter of minutes, creating quality and detailed audit trails for each case.

With this fraud investigation software, examiners can gather more data and conduct a more comprehensive investigation in less time. The software is able to pull financial information from any paper or PDF document and enter it into an Excel file, customizing categories and organizing data for a comprehensive analysis. Using data capture software, investigators and examiners can enter hundreds of transactions in under five minutes.

Once the data is entered, the financial analysis software is able to further verify and compare the numbers. Displaying the original source document and the newly assembled Excel file concurrently, advanced data capture software automatically color-codes data by level of accuracy. With ease and clarity, investigators can search for misappropriation of funds, use of funds, unreported income and other types of financial fraud.

Most importantly, they can see the flow of funds. The software offers additional functions like audit trail direct mapping. Financial fraud examiners can click on any cell within the Excel file and the software will directly link the selected data back to its original placement within the source document, creating an accurate and direct reference for any record.

Automating data capture has dramatically accelerated fraud investigations, minimizing the paper trail and leveraging smart technology in order to conduct deeper, more accurate investigations and save 90 percent more time in the process. Examiners can adopt proprietary software, like ScanWriter, to automate data capture and streamline financial fraud investigations with confidence.

Learn more about how ScanWriter can accelerate your investigation process. Or Request a FREE 10 – 20 minutes online demonstration to see how it works for you today!

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