How do you identify fraud, waste, and abuse when your procurement office handles more than a million transactions a year and $2.2 billion in disbursements? Manually, if you're Stanford University, just like most institutions of higher education do. But, faced with a changing audit landscape, the California school is now looking to analytics to help detect transaction irregularities.

The need for a new approach is rooted in two factors, one old and one new. First, the sheer volume of transactions makes it impossible for the university to monitor them all manually. "We knew our existing approach just wasn't sustainable: The number...

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About the Author:

Andrew Barbour is a contributing editor for eCampus News.