Fraud Detection Questionnaire
Use this questionnaire to generate ideas for fraud detection
Example of questions in this questionnaire … as:
- Is our rent collection regular and consistent?
- Can all subcontractor charges be traced to services rendered?
- Are parking permits being given away?
- Are tenants subletting without authorization?
- and more …
Sift through data to find unusual activity
What is Fraud Detection With Analytics?
- Fraud detection through data forensics is not a new concept. We bring the tools to easily analyze your data.
- By looking for unusual activity (such as higher volumes of transactions for a subcontractor, or gaps in rent collection), we are able to flag areas that should be investigated further
- Fraud detection is about finding the “fraud needle in the business haystack”
Benefits of Fraud Detection with Analytics
- Even real estate companies with strong controls in place can have holes that allow fraud to occur; our solutions can help you uncover these areas
- On-going fraud not only hurts profitability, it can damage your brand and hurt employee morale
- Known use of analytics by your company creates “Perception of Detection”, which itself is known to reduce fraudulent activity
Challenges in Performing Fraud Detection with Analytics
- Companies often don’t record their data in a uniform manner. For example, the same vendor can be in the system with multiple names (Home Depot, HomeDepot, HDepot etc.) and that makes it harder tie transactions to the same entity.
- Large volumes of data, spanning multiple periods, are usually required. This is hard to manage in Excel.
- We scrub the data to standardize the elements we are analyzing (for example vendor names)
- We use a visualization tool, such as Tableau, to display the data from the property management systems
- We use a variety of chart types, including cluster charts, scatter plots, histograms etc. to view the data patterns and trends
Our solutions are built on the RentViewer software. RentViewer connects to data sources (such as Property Management Systems, other systems and Excel files), collates the data and enables the creation of Executive Dashboards, Custom Reports and Analytical Solutions
Do you have questions and need detailed explanation of how our product could help your businness?
The Property Management Metrics Handbook
Which property management metrics are important to you?
See a list of over 100 metrics for categories such as:
- Lead Management Metrics
- Lease Application Metrics
- Unit Turnover Metrics
Use the Handbook for ideas on metrics that will be useful to your company.
Decide which property management metrics should be tracked and used for setting improvement goals.