Increasingly, especially in the retail sector, process control is becoming more and more vital. One of the most sensitive is fraud. Effectively controlling the problem is no easy task. However, reducing fraud with robots is possible.
A flood of information
In many businesses, fraud control is defined by analyzing large volumes of information. This information originates from sales tickets that are accumulated, at best, on a weekly basis. After receiving them, auditors are tasked with identifying different fraud situations by obtaining the information from multiple systems.
This way of working, which involves a high number of repetitive transactions, is not even capable of surfacing and analyzing all the cases. The workload on the operators is overwhelming and, in addition, generates a state of demotivation for not seeing the objective fulfilled. Reducing fraud with robots while freeing workers to perform more productive tasks is not only possible. It also improves the process at different levels.
How to reduce fraud with robots
Thanks to RPA, the solution to this problem becomes simple, efficient and very productive. To begin with, the software robot is able to connect to multiple systems just as a human user would. This allows full access to all available tools and improves the detection flow.
In this way, the robot is able to analyze all the tickets and highlight to the auditor only those susceptible to fraud, discarding the rest. This selection is made on the basis of the predefined criteria that the department has set for the identification of potential fraudulent behavior.
The time savings are such that, whereas previously ticket analysis took four to five days, with the robot the same process is done in just a few hours. This means that auditors have more time to analyze the cases that really require their attention. A saving of time, work and effort that results in an improvement of the process, since now many more fraud situations are detected, controlled and corrected.
Reducing fraud with robots frees up workers for more productive tasks.
An essential aid
Having a software robot therefore results in a substantial improvement of the data extraction process. This task, which is repetitive, tedious and has no added value, is the type of function that robots perform best. Relieving the employee of this workload makes him feel that his work is much more important. In addition, they can devote more time and attention to the functional part of the job.
Work no longer accumulates and, even in vacation time, with fewer resources in the team, it is possible to maintain an efficient workflow. Reducing fraud with robots has the advantage that RPA allows you to continue working autonomously for as long as necessary. No breaks or vacations.
Last but not least, the reduction of errors in the identification of potential frauds is reduced to practically zero. A person performing the same task constantly loses efficiency over time. On the other hand, a robot always performs it with the same degree of compliance regardless of how much time it spends on it. This translates into an error rate close to zero. In addition, incidents are detected immediately and communicated to the person in charge so that he can proceed manually.
So, reducing fraud with robots is, as we can see, one of the most competent, reliable and cost-effective alternatives we can contemplate. A real solution to a real problem faced by thousands of companies around the world.