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Utilities Fraud Finder
An analytics-driven approach to uncovering energy theft
Energy theft is a big problem for utilities—but it’s not a new one. In fact, many leaders at utilities feel they’re constantly rolling out new strategies to target fraud. But just as soon as they’ve developed and run new fraud-focused algorithms, identified gaps, and taken steps to fill them, new fraud challenges emerge. It can feel like a never-ending cycle—and, for many, it is. But when you consider the significant amount of money involved in fraud and theft, it’s worth the constant attention. Is there a better way? Recent advances in technological capabilities, combined with rapidly expanding data volumes being generated at utilities, open the door to new possibilities. That’s where Deloitte’s Utilities Fraud Finder approach comes into play.
Find hidden patterns—faster
The Utilities Fraud Finder helps make use of advanced technologies such as SAP HANA™ to make quick work of data volumes that would have required weeks or months of number-crunching to yield insights. Where utilities may have had the appetite or ability to evaluate only a year’s worth of data at a time, the Fraud Finder has been used to analyze 20 years’ worth of data in even less time. The result? An ability to identify and respond to trends faster—as well as pinpoint individual sources of fraud.
We developed the Fraud Finder approach based on years of experience chasing down fraud at some of the world’s largest and most successful utilities. This approach is equally informed by our working knowledge of advanced analytics strategies and technologies in use today, including SAP HANA.
If you’re ready to take your utility’s fraud prevention strategy to the next level, we should talk. Please reach out to any of us to get the conversation started.