Pioneer
Ventures
Transaction Data Analysis
All large private and public sector entities might be sitting on significant sums of money that they don't know about. If that money can be identified and returned it will boost their bank balances.
Our knowledge of transaction analysis and operations allows us to identify retrievable funds and to streamline cash management processes. The work pays for itself.
Our Recommendations
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Identify and retrieve erroneous payments.
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Conduct data analysis and use modelling techniques to single out mistakes and issues.
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Address and mitigate root causes of the errors.
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Where appropriate retrieve the funds.
Alternative Source of Income
The concept of "lost money" refers to funds paid in error that are never recovered. This can occur when organisations fail to detect mistakes in their financial transactions, often due to a lack of thorough analysis of historical records..
With large organisations, these errors can go undetected for years, resulting in significant financial losses. By analysing historical records, companies can identify these mistakes and recover the lost funds, providing an alternative source of income.
“Sometimes you lose sight of what’s going on around you.” Usain Bolt
Results and Case Study
An exercise identified £4.2 million erroneous payments from a UK Local Authority's transactional data, with 450 payments identified out of 750,000 transactions.
The exercise was completed within a week and revealed common scenarios that are likely to be prevalent across other UK Local Authorities
Challenge Statement Analysis
The Bank Statement contains a number of erroneous payments. Can you identify them? (To date, only one person has).
Each of the errors are examples of common incidents which remain undetected.
