Procurement Risk Monitoring

Real time accurate information during the procurement process helps companies with transparent and rapid evaluation, prevents reputational problems and allows extensive cost savings.

Procurement is recognized as a fundamental enabler of business strategy and a preferred method for achieving sustainable cost reductions. All entrepreneurs need to have a transparent procurement environment, as if procurement is not undertaken in line with high business standards, reputational damage to the brand and entrepreneur can be substantial. Furthermore, procurement is often the subject of internal audits, as it plays a significant role in supplier selection.

Client challenge

Our client had multiple internal information sources which were difficult to analyse and interpret, as they had not been consolidated into a single system to create a complex analytical environment. We implemented a solution for the client to collect, consolidate, analyse and interpret all information on customers, enhanced by external information sources to ensure the red flagging of risky vendors, where further due diligence needed to be performed. By establishing a single source of information related to customers, providing workflow process and creating space to document work undertaken on suppliers’ due diligence, we established transparency in their procurement process with clear responsibilities of individual persons to avoid conflicts of interest.

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PwC has developed an advanced anti-fraud application covering multiple risk areas to support an end-to-end transparent procurement process. The PwC solution automatically warns of risks of conflict of interests, carousel frauds or signs of other unwanted behaviours in procurement. Our solution can detect and show connections and relationships between individuals and companies - it can red flag relationships between stakeholders, board members, employees, supplier, customers, and connections via other companies, which might initially seem completely unrelated. Detections and analysis are undertaken in real time, 24x7.

The Anti Fraud Tool consolidates multiple sources of digitalised data in Slovakia into one place and, in cooperation with the client’s internal information, provides a holistic approach to the management of procurement risks. Relationships between companies are visualized for clear and easy follow up. Every procurement is fully transparent and auditable, and all actions are logged, stored and available for audits.

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Key application functionalities:

1. Consolidation of multiple public sources of relevant information
2. Parallel internal integrations
3. Smart carousel fraud detection via data analysis
4. Identifying and disclosing hidden relationships between suppliers, customers and employees
5. Fully customizable to business needs
6. Supporting different roles and various approval processes, including creating documentation of work performed during procurement risk management
7. Transparent and auditable  - every action is logged
8. Dashboarding and graph visualization for easy use



The application supports our client in establishing a transparent and easily auditable environment within procurement. Automatic proactive real time detection minimizes risks and avoids unwanted behaviours. The online application can be customised for individual roles, so each user receives the essential information they require and is available at any working location, as it is web based.

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Contact us

Ivan Hlavenka

Ivan Hlavenka

Director, PwC Slovakia

Tel: +421 902 953 866

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