Scientific Research and Publications

The Detective Audit software

Companies need confidence in effectiveness of control over the risks arising as a result of interaction with new business partners. They should know that a methodical and thorough review of a contractor, especially at pre-contractual stage, brings benefits to business in general. 

We offer an IT-solution to manage and control business risks – “Detective Audit” software reflects a complex and rapidly changing business environment of the transaction and helps avoid contingency costs in case of malicious intent of an unfair business partner.

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Issues You are Facing

• Inability to understand the goals and objectives of a new business partner

• Insufficient informational content of open information databases

• Lack of clear financial information about contracting parties

• Inability to anticipate potential incidents as well as reliance on inefficient processes for identifying and evaluating business risks in the short term

• Lack of consideration of business risks and the consequences of their impact for business in decision making about cooperation.

Our Solutions

• Ability to quickly recognize the true purpose and intentions of the contracting party within the period of one day

• Ensuring the effective use of available IT-resources allowing the business to measure usefulness of business partnership as a whole    

• Building a model for risk management helping the client to understand the inherent future transaction risks and their possible consequences

• Offer of strategies to minimize or eliminate risks

• Improving effectiveness of decision making process for selection of a contracting party on the basis of clear understanding of inherent and residual risks by improving the methods of business reliability assessment

• Identifying opportunities to reduce the costs for investigation

• Correct arrangement of priorities in investigation and planning of the deadlines for investigation

• Convenient system of indicators to monitor business reliability of a contracting party. 

Example of Using “Detective Audit” Software 

A food store assessed business reliability of a new company - supplier of frozen products and, as a consequence, the work on risk optimization of control over non-performance of business obligations by the business partner. Investigation consisted in general of three phases of independent assessment of an individual entrepreneur:

• Software search, collection and analysis of public information about the contracting party

• Manual search, collection and analysis of hidden information about the contracting party

• Automatic calculation of the index of business reliability of the contracting party, assessment of integrity and comparative analysis.

As a result, you will get:

On the basis of investigation results, “Detective Audit” software provided the company with a report assessing probability of successful cooperation, thereby increasing understanding of the management about integrity of intentions of the business partner in the short term, understanding of its own strategy and its functioning in the framework of the expected transaction.