Applications - Financial Databases

Daisy is ideal for the analysis of Financial Databases.

A typical database would be one containing details of all cheques issued by a business. It will contain fields, such as date issued, cheque number, amount, invoice number, payee etc. The more fields in fact, the better and the more likely useful information can be deduced.

Daisy does not necessarily always look for fraud and other serious problems in Financial Databases.

A Retailing Company consists of seven chemist/pharmacy/fancy goods shops, that have been brought together during the recession in the early nineties. Each shop trades more or less independently, with managers being responsible for buying policies and they can sign cheques up to a certain limit.

Daisy was installed to make sure the rules were adhered to.

A Daisy Chart of the cheques, showed that no-one was exceeding their signing limit, by using multiple payments and there were no cheques that appeared suspicious.

At a first glance Daisy had failed, although it had proved, it was likely that no significant fraud was taking place.

But then Daisy started to show the benefits.

For instance, it became obvious that the shops had many common suppliers, and that there was little or no effort to claim the maximum discounts available.

It was also obvious, that different managers, applied different and very incompatible purchasing policies.

The direct savings from these two areas were significant.

In addition, a large amount of administration expenses were saved by raising cheque signing limits.

This example shows the benefits, that can accrue by using Daisy on the simplest of Financial Databases. But not necessarily where they are to be expected!