Originally Published on “LinkedIn Pulse” on 03/22/2016
I recently was brought on to Controls Force, Inc as their North American Senior Advisor and I’ve been doing my due diligence to catch myself up to speed with their target market and industry as a whole since it’s out of my skill set. So over the course of the past two weeks or so I’m been searching through news reports regarding any large billing systems and any stories where a company has been in the news for large scale over billing of their customers and wound up in litigation as a result. Since I live in the greater Los Angeles Metro area I was aware of the LADWP case last year that was settled out for $44,000,000 but the more I dug looking around the country I was astounded by how big a problem utility over billing in fact really is! I haven’t gotten a total yet but it’s in the tens of billions every year in the US and the sad fact or the matter is it’s all avoidable if these companies were to use Controls Force’s “Transaction Watchdog™ ” application.
The traditional Loss Prevention systems in any industry are undergoing a profound transformations: from manual controls to automated, from periodical to continuous monitoring, from controls’ monitoring to transaction data monitoring.
In response to these needs:
- is the only technology that monitors a single Enterprise Transaction in real-time, such as order-to-cash across systems, applications and various business processes.
- points out the root causes of potential losses.
- points-out fraud activities including unknown incidents.
- No need to understand the work flow processes and the fraud patterns to deploy Transaction Watchdog™ for your operations
- is easy to use. You can sign up for free trial on your historical data and find out for yourself!
- In free trial, you do not need to download any software, but just upload a dump of your transaction data, in excel or other popular formats, to our cloud services and find out in 72 hours which risks and risk values your company is exposed to.
Here’s a short 3 minute video to explain how it works.
In light of the sheer number of over billing cases I uncovered I decided to create a publication to add to my portfolio of 40 digital publications to keep track of the larger cases. These are just the tips of the iceberg and it’s enough to upset anyone from the consumers to the shareholders of these companies paying out billions of dollars every year in case settlements. The new publication is titled “Off The Grid™ ” and I’ve already documented over 20 recent cases. Another thing I discovered is that this type of customer over billing is not exclusive to public utility companies. It’s also rampant in the medical and governmental segments as well. I will never sign up for an auto pay billing system again unless I know that they company is using Transaction Watchdog™!