Our expense compliance product helps ensure good citizenship around Accenture’s billing and expense reporting compliance. It has reduced the number of false expense entries being detected by as much as 10 percent. It, in turn, improves the employee experience by reducing unwarranted inquiries. This outcome translates into business value gained by reducing the time our Compliance Team auditors spend on expense cases that are actually compliant, reducing the time employees spend responding to questions, and redirecting audit time to more questionable claims. The product adds further value by detecting hidden-pattern noncompliance.
Our CIO Applied Intelligence organization continues to further optimize the anomaly detection model for Expense Compliance and apply new deep-learning models to improve accuracy and business insight. Advanced digital capabilities, especially anomaly detection, hold the potential to be applied in other use cases of high-volume transaction activity generated by human activity. Possibilities include procurement, IT operations, banking, pharmaceuticals, and insurance and health care claims, among others. Human perception and knowledge are not replaceable by models as humans are always leading and proceeding. Human-generated rules and models generated by human and machines can work hand in hand to make work flow more human centric than machine centric.
CIO Applied Intelligence continually drives innovation and applies predictive models, AI and machine learning to products to bring greater insights to the business. Within CIO Applied Intelligence is the Studio, the research and development organization of data scientists, user experience experts and software engineers that experiments and builds advanced analytics solutions. It operates with a culture of creative agility, following emerging technology market trends, prototyping new analytics concepts and working with a fail-fast culture. A thriving analytics ecosphere is promoting winning ideas.
Analytics products are advancing Accenture’s transformation journey to becoming an enterprise that is automated, intelligent and insight-driven. Accenture envisions this future digital-insight culture as one that delivers new value in many ways. Accenture’s reporting landscape will become simplified as more clarity on what to use is gained. There will be broader insights into business performance as all business dimensions will be supported with digital insights—anywhere.