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Data analytics - Alteryx Spotlight.pdf
1.
DataAnalytics Alteryx Spotlight March 2021
2.
2 Document Classification: KPMG
Confidential © 2020 KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMGInternational Cooperative (“KPMG International”), a Swissentity. All rights reserved. 2 Document Classification: KPMG Confidential © 2022 KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMGInternational Cooperative (“KPMG International”), a Swissentity. All rights reserved. Leveragingdataanalytics Key Areas that Analytics & Automation can support are as below (tests on certain areas are detailed in next slides): Claims:- Near real-time claims analysis provides ability to track progress of data entry as well as utilisation against dimensions such as Branch, region & risk factors Operational Delivery :- Identifying anomalies and remediation type of analytics MI/Data: Descriptive type of analytics such as accuracy, completeness and review of reports Fraud: Identifying irregularities, patterns, and trends more of investigative analytics Underwriting:- Determination of cost elements associated with underwriting and ensuring these are factored in when generating risk scores or price determination Marketing:- Assessment of vulnerable clients, KYC initiatives Demand & Recoveries: Claims recalculations and assessment of for recovery timelines Data Quality: Validation of the quality of data from accuracy and completeness perspective. Data Visualisation: Dashboarding of various observations, anomalies, trends and patterns. Advanced monitoring capabilities Quality approach to manage controls and data validation End-to-end testing of processes Lower cost due to automation of processes Earlier identification of anomalies and patterns of high risk Issues and findings through dynamic dashboards Full population testing Data Analytics techniques, including macro analytics (trends, profiles, statistics), process mining (design versus reality) and micro analytics (deep dives and visual outliers) can be leveraged across all applicableareas within the organisation. Analytics process allows 100% testing of data, rapid deployment of test and reusability of the scripts and codes which can be used for reperformance when required. So what does this mean? 100% data tested All possible processes considered Rapid deployment and learning with reproducibility Oversight of all pathways in the specific audit process and deviations and therefore highlighting possible risks in lending Continuous monitoring possible Dashboards included with MI, alerts and triggers for timely decision making
3.
3 Document Classification: KPMG
Confidential © 2020 KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMGInternational Cooperative (“KPMG International”), a Swissentity. All rights reserved. 3 Document Classification: KPMG Confidential © 2022 KPMG LLP, a UK limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMGInternational Cooperative (“KPMG International”), a Swissentity. All rights reserved. Automated Reporting Continuous Monitoring Alteryx is an intuitive, drag & drop data processingand application development platform, enabling analysts to build robust, repeatable and scalable data processes, reporting routines and analytical applications, making use of all relevant data sources. Alteryxspotlight:whatisit?
4.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 4 Alteryxspotlight:whatareitsstrengths? Very fast time to value, due to a single process for analysis versus multiple processes and tools Ease of use (drag and drop workflow, easy to iterate and modify without complex coding, fast in-memory processing, etc.) Integrates with JDBC, SQL, Tableau, Power BI, Qlik, … Reusability and sharing of data workflow modules and applications (Gallery) Makes powerful data blending, predictive analytics and spatial analysis accessible to non technical users
5.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 5 HowyoucanuseAlteryxtoachievedataanalyticstesting Broadly, Alteryx can be applied towardsachievement of the following objectives: a) Accuracy – checking totals and calculations from the general ledger or related databases b) Analytical Review– performing data comparisons, creating a profile based on specific business performance indicators and reporting the same using visual analytics tools c) Validity – Identifying duplicates and checking transaction data for exceptions d) Completeness– Reviewing gaps and identifying data that matches set criteria e) Continuous TransactionMonitoring– By developing scheduled workflows, Alteryxcan be useful in monitoring of specified transaction limits and triggers and emailing the same to management, Claim Payments Executive Summary Accounts Payable Analytics Customer Experience Payroll Reinsurance Debt Recovery Other areas i.e. App development, Reporting and Scheduled Workflows
6.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 6 HowyoucanuseAlteryxtoachievedataanalyticstesting Broadly, Alteryx can be applied towardsachievement of the following objectives: a) Accuracy – checking totals and calculations from the general ledger or related databases b) Analytical Review– performing data comparisons, creating a profile based on specific business performance indicators and reporting the same using visual analytics tools c) Validity – Identifying duplicates and checking transaction data for exceptions d) Completeness– Reviewing gaps and identifying data that matches set criteria e) Continuous TransactionMonitoring– By developing scheduled workflows, Alteryxcan be useful in monitoring of specified transaction limits and triggers and emailing the same to management, Claim Payments Executive Summary Accounts Payable Analytics Customer Experience Payroll Reinsurance Debt Recovery Claims is a significant source of operational expense and indemnity spend. Cost containment is a major challenge in the insurance sector, and insurers are looking for ways to reduce cost and control fraud expenses. Alteryx can be used to perform tests including: a) Identify claims made or paid before policy effective date b) Identify claims made or paid before the maturity or loss date c) Using data analytics test that once authorised payments are posted within set working days d) Matching claims paid to policies in policy register e) Testing for duplicate payments f) Using data analytics to test whether there is adequate segregation of duties built into he claims payment system based on the defined authority level matrix g) Using data analytics, test that all payments released were appropriatelyapproved as per set requirements Other areas i.e. App development, Reporting and Scheduled Workflows
7.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 7 HowyoucanuseAlteryxtoachievedataanalyticstesting Broadly, Alteryx can be applied towardsachievement of the following objectives: a) Accuracy – checking totals and calculations from the general ledger or related databases b) Analytical Review– performing data comparisons, creating a profile based on specific business performance indicators and reporting the same using visual analytics tools c) Validity – Identifying duplicates and checking transaction data for exceptions d) Completeness– Reviewing gaps and identifying data that matches set criteria e) Continuous TransactionMonitoring– By developing scheduled workflows, Alteryxcan be useful in monitoring of specified transaction limits and triggers and emailing the same to management, Claim Payments Executive Summary Accounts Payable Analytics Debt Recovery Payroll Resinsurance Debt Recovery Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers Other areas i.e. App development, Reporting and Scheduled Workflows Understandingand proper management of customer experience is key to business and brand development. Continuous monitoring of customer attraction, experience engagement and retention can be visualized to support continuous improvement. Alteryx can be used to perform testing that includes; a) Customer service tests around calculating customer satisfaction scores (CSAT), net promoter score (NPS) and costs to serve b) Analysis on customer life value (CLV), churn rate and conversion rates c) Claims, Underwriting and complaints TAT d) Analysis on resolved issues and overall satisfaction Customer Experience
8.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 8 HowyoucanuseAlteryxtoachievedataanalyticstesting Broadly, Alteryx can be applied towardsachievement of the following objectives: a) Accuracy – checking totals and calculations from the general ledger or related databases b) Analytical Review– performing data comparisons, creating a profile based on specific business performance indicators and reporting the same using visual analytics tools c) Validity – Identifying duplicates and checking transaction data for exceptions d) Completeness– Reviewing gaps and identifying data that matches set criteria e) Continuous TransactionMonitoring– By developing scheduled workflows, Alteryxcan be useful in monitoring of specified transaction limits and triggers and emailing the same to management, Claim Payments Executive Summary Accounts Payable Analytics Debt Recovery Payroll Reinsurance Debt Recovery Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers Other areas i.e. App development, Reporting and Scheduled Workflows Tests on debt recovery data are to establish existence, completeness and valuation. Items of particular concern are old unpaid balances, unmatched cash and large balances, particularly where customers are in difficulty. . Alteryx can be used to perform testing that includes; a) Profile accounts using stratification to identify large accounts and the proportion of value in the larger items. b) Generate summaries by customer, invoice, amounts, products, etc. Profile customers’to improve profitability c) Perform impairment provision analysis and trends d) Identify large balances either in their own right or compared to turnover e) Select accounts for which no movements have been recorded in a set time f) Report credit and debit balances Customer Experience Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers Accounts Payable
9.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 9 HowyoucanuseAlteryxtoachievedataanalyticstesting Broadly, Alteryx can be applied towardsachievement of the following objectives: a) Accuracy – checking totals and calculations from the general ledger or related databases b) Analytical Review– performing data comparisons, creating a profile based on specific business performance indicators and reporting the same using visual analytics tools c) Validity – Identifying duplicates and checking transaction data for exceptions d) Completeness– Reviewing gaps and identifying data that matches set criteria e) Continuous TransactionMonitoring– By developing scheduled workflows, Alteryxcan be useful in monitoring of specified transaction limits and triggers and emailing the same to management, Claim Payments Executive Summary Accounts Payable Analytics Debt Recovery Payroll Reinsurance Debt Recovery Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers Other areas i.e. App development, Reporting and Scheduled Workflows Tests on debt recovery data are to establish existence, completeness and valuation. Items of particular concern are old unpaid balances, unmatched cash and large balances, particularly where customers are in difficulty. . Alteryx can be used to perform testing that includes; a) Profile accounts using stratification to identify large accounts and the proportion of value in the larger items. b) Generate summaries by customer, invoice, amounts, products, etc. Profile customers’to improve profitability c) Perform impairment provision analysis and trends d) Identify large balances either in their own right or compared to turnover e) Select accounts for which no movements have been recorded in a set time f) Report credit and debit balances Customer Experience Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers There are many regulations and taxes associated with payroll and compliance with these can be checked. Privacy concerns may limit certain tests. Alteryx can be used to perform tests within the organisation that include: a) Re-calculation checks around total gross pay, net pay, deductions and other value fields b) Exception tests where gross amount exceeds the set amount c) Duplicate tests on bank account details, names, date of birth and employee details such as addresses, national insurance numbers etc. on payroll file d) Matching and comparison tests at a point in time to identify changes in expected trends on pay and benefits e) Reasonableness tests of tax rates, overtime claimed, date of birth (under 16 and over 65), pay/grade comparison f) Profiling analysis on employees ages, race, years of service to assist with forward planning g) Comparison of records within payroll and master to determine if there are “ghost” employees on payroll Payroll
10.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 10 HowyoucanuseAlteryxtoachievedataanalyticstesting Broadly, Alteryx can be applied towardsachievement of the following objectives: a) Accuracy – checking totals and calculations from the general ledger or related databases b) Analytical Review– performing data comparisons, creating a profile based on specific business performance indicators and reporting the same using visual analytics tools c) Validity – Identifying duplicates and checking transaction data for exceptions d) Completeness– Reviewing gaps and identifying data that matches set criteria e) Continuous TransactionMonitoring– By developing scheduled workflows, Alteryxcan be useful in monitoring of specified transaction limits and triggers and emailing the same to management, Claim Payments Executive Summary Accounts Payable Analytics Debt Recovery Payroll Underwriting Debt Recovery Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers Other areas i.e. App development, Reporting and Scheduled Workflows Tests on debt recovery data are to establish existence, completeness and valuation. Items of particular concern are old unpaid balances, unmatched cash and large balances, particularly where customers are in difficulty. . Alteryx can be used to perform testing that includes; a) Profile accounts using stratification to identify large accounts and the proportion of value in the larger items. b) Generate summaries by customer, invoice, amounts, products, etc. Profile customers’to improve profitability c) Perform impairment provision analysis and trends d) Identify large balances either in their own right or compared to turnover e) Select accounts for which no movements have been recorded in a set time f) Report credit and debit balances Customer Experience Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers Insurance firms can ensure optimal benefit from the reinsurance options it has taken up as well as actively monitor alternate options available in the market. Alteryx can be used to perform tests that include: a) Claims pending per reinsurer b) Claims paid per reinsurer to identify trends c) Claims, policies and renewals analysis d) Loss ratio calculation that can feed into the plotting of season trends across different periods e) High value claim payments f) Claims lodged per reinsurer Reinsurance
11.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 11 HowyoucanuseAlteryxtoachievedataanalyticstesting Broadly, Alteryx can be applied towardsachievement of the following objectives: a) Accuracy – checking totals and calculations from the general ledger or related databases b) Analytical Review– performing data comparisons, creating a profile based on specific business performance indicators and reporting the same using visual analytics tools c) Validity – Identifying duplicates and checking transaction data for exceptions d) Completeness– Reviewing gaps and identifying data that matches set criteria e) Continuous TransactionMonitoring– By developing scheduled workflows, Alteryxcan be useful in monitoring of specified transaction limits and triggers and emailing the same to management, Claim Payments Executive Summary Accounts Payable Analytics Debt Recovery Payroll Reinsurance Employee expenses Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers Other areas i.e. App development, Reporting and Scheduled Workflows Tests on debt recovery data are to establish existence, completeness and valuation. Items of particular concern are old unpaid balances, unmatched cash and large balances, particularly where customers are in difficulty. . Alteryx can be used to perform testing that includes; a) Profile accounts using stratification to identify large accounts and the proportion of value in the larger items. b) Generate summaries by customer, invoice, amounts, products, etc. Profile customers’to improve profitability c) Perform impairment provision analysis and trends d) Identify large balances either in their own right or compared to turnover e) Select accounts for which no movements have been recorded in a set time f) Report credit and debit balances Customer Experience Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers Tests on debt recovery data are to establish existence, completeness and valuation. Items of particular concern are old unpaid balances, unmatched cash and large balances, particularly where customers are in difficulty. Alteryx can be used to perform testing that includes; a) Profile accounts using stratification to identify large accounts and the proportion of value in the larger items. b) Generate summaries by customer, invoice, amounts, products, etc. Profile customers’to improve profitability c) Perform impairment provision analysis and trends d) Identify large balances either in their own right or compared to turnover e) Select accounts for which no movements have been recorded in a set time f) Report credit and debit balances Debt Recovery
12.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 12 HowyoucanuseAlteryxtoachievedataanalyticstesting Broadly, Alteryx can be applied towardsachievement of the following objectives: a) Accuracy – checking totals and calculations from the general ledger or related databases b) Analytical Review– performing data comparisons, creating a profile based on specific business performance indicators and reporting the same using visual analytics tools c) Validity – Identifying duplicates and checking transaction data for exceptions d) Completeness– Reviewing gaps and identifying data that matches set criteria e) Continuous TransactionMonitoring– By developing scheduled workflows, Alteryxcan be useful in monitoring of specified transaction limits and triggers and emailing the same to management, Claim Payments Executive Summary Accounts Payable Analytics Debt Recovery Payroll Reinsurance Debt Recovery Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers Other areas i.e. App development, Reporting and Scheduled Workflows Tests on debt recovery data are to establish existence, completeness and valuation. Items of particular concern are old unpaid balances, unmatched cash and large balances, particularly where customers are in difficulty. . Alteryx can be used to perform testing that includes; a) Profile accounts using stratification to identify large accounts and the proportion of value in the larger items. b) Generate summaries by customer, invoice, amounts, products, etc. Profile customers’to improve profitability c) Perform impairment provision analysis and trends d) Identify large balances either in their own right or compared to turnover e) Select accounts for which no movements have been recorded in a set time f) Report credit and debit balances Customer Experience Many tests in AP will relate to supplier master file details. This often resides on a different file to the detailed ledger items. Alteryx can be used to perform tests including: a) Summarize invoices by supplier to prove individual balances b) Isolate vendor unit price variances by product c) Identify debit balances d) Identifying unusual standing data e) Test for items with dates or references out of range (cut-off) f) Test for duplicate payments/invoices g) Test for duplicate bank account details h) Test for duplicate purchase order numbers Using all relevantdata sources, Alteryx enables analysts to build robust, repeatable and scalable data processes, reportingroutines and analytical applications. App development – Alteryx can be used to design workflows to automate a process for example interest recalculation of loans. Once parameters are set as per criteria, this can be packaged as a solution/ application to run in a plug and play fashion Reporting– Alteryx has advanced tools that enable analysis outputs to be shared across teams through emails, PDF, charts or linking to a visualization tool such as tableau Scheduled Workflows and Emails – Workflows can be scheduled so as to run based on business criteria at set times, once an Alteryx workflow runs, its output can be shared on email. This is useful for continuous monitoring as human intervention is limited. Other areas i.e. App development, Reporting and Scheduled Workflows
13.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 13 Benefitsofthetoolovermanualprocessing — Data cleansing & matching done in excel. — Running tests manually in excel using filters. — No set method to perform tasks. Risks & Issues — No Audit Trail. — Slow data processing. — Conflicting methods use to produce results by different members of the team. — No record of cleansing processes. — Difficulty in reproducing results. BEFORE — Data cleansing done through a defined process. — Extraction done directly from source. — Automated process which picks up the most recent source data files and produce results and summary resultsin a standard template format. Benefits & Impact to the Project — Reduced risk of data corruption. — Ease of interpretation. — Source and target data compatibility. — Data validation — Reverse engineering: Using keywords and values from a report, you have a starting point from which you can begin to explore the underlying data and test its relationships. — Gives option for full auditability of historical data. i.e. identifying when cases had been voided. — Ease of adding in new tests. — Up to 80% reduction in time required to complete tasks. AFTER
14.
Document Classification: KPMG
Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 14 14 Document Classification: KPMG Confidential © 2022 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. All rights reserved. 14 Thanks
15.
Document Classification: KPMG
Confidential The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. © 2022 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. The KPMG name and logo are registered trademarksor trademarks of KPMG International. | Create CRT112363G kpmg.com/connected
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