‘Nearly a third (32%) of occupational frauds occur due to a lack of internal controls’
Implementing robust fraud prevention technology is not only a regulatory requirement but also a strategic necessity in today’s corporate landscape. geoficiency can help you meet the challenge of disparate financial systems, create efficiencies and comply with new UK regulation.
This is clearly already an issue for many organisations. The recent BDO Fraud track 2025 found that 17% of business had increased IT security investment and 13% reported increased spending on fraud detection tools such as AI and data analytics.
That said, these findings suggest that whilst some businesses have been proactive in their investment in technology, there appears to be considerable scope for others to step up their commitment to IT security.
Many large organisations find that their size and complexity creates additional issues. A range of ERPs can make it difficult to streamline internal governance. A large corporate will have divisions all over the world, of different sizes and with varying levels of experience in financial controls. This can result in a lack of transparency and make systemising the financial processes complicated. It also means that fraud is hard to detect.
You need a robust fraud prevention framework
You will already have fraud controls, but are your systems ready for the new legislation expected this year and next? Our technology has over 450 automated controls. With our help, organisations usually select 30-50 which enable them to streamline financial investigations. This means you can automate anomaly detection, and provide real-time analytics to identify and mitigate fraud risks efficiently. Organisations must now ensure their controls are structured, automated, documented and auditable.
The regulations will ask that you improve your processes further and streamline financial investigations in your business. This means thinking about a technology that will work with a range of ERPs, languages, currencies, volumes etc. All the challenges that make up the financial systems of a large corporation. The geoficiency solution is recognised for its ability to detect risks and errors, improve accounting quality, automate repetitive tasks and refocus teams on high added-value activities. All this means that it also enables corporates to comply with regulation.
With geoficiency, your organisation can:
- Conduct comprehensive financial audits to detect irregularities.
- Automate fraud risk assessments for proactive prevention.
- Strengthen internal controls with AI-powered monitoring and reporting systems.
- Ensure compliance with UK fraud prevention legislation under the new Economic Crime and Corporate Transparency Act (coming into effect in September 2025).
- Manage a volume of nearly one billion movements per financial year.
Saint Gobain used geoficiency to monitor its control and analysis across 75 countries
Now, its accounting flows are monitored according to:
- Where they come from
- When they arrive
- On which accounts they appear
- Within which accounting schemes
- Any atypical behaviour regarding work habits
It was such a success for Saint Gobain that Pascal Perrier, Director of CSP and Group Finance Digital Transformation, revealed: “Several SSCs and BUs have already asked us to extend the solution to other entities”
geoficiency technology has already been tested on Sapin II. Saint Gobain used it to comply with the French anti-fraud and corruption legislation. Now, the compliant by design solution aligns with the UK government’s recommended fraud prevention measures. So your business can stay compliant with the ECCT Act and reduce exposure to financial and reputational risks.
Our compliance technology continues to be designed by its customers
They love it because it’s quick to implement and easy to use. It takes a couple of hours of training and the data can be fitted to the core model in about 2-4 weeks. This ease of implementation and use makes it an ideal response to the constraints of a tight timeline, (from now until 1 September 2025), serving as a quick win within a broader strategic roadmap.
If you’re a large corporation, with disparate entities across the world, geoficiency has the technology you need. We can give you a quick demo and show how it will work with your existing systems. It’ll give your financial team full oversight, improve efficiencies and make compliance easy.
