The rise of data is everywhere, especially during the pandemic. It is seen growing in businesses, non-government, and government organizations.
According to a United Nations Office on Drugs and Crime (UNODC) research, less than 50% of key agencies in Southeast Asia make use of some limited form of data analytics. Data analytics serves as a key component of anti-corruption, fraud, or anti-money-laundering activities. This serves as a safety net regarding issues of corruption that negatively impacts the day-to-day lives of individuals. Even though it’s a long battle, there is always a way to help win this fight.
One example of data analytics is managing data.
In many areas, there are issues relating to corruption that negatively impacts the day-to-day lives of individuals. Even though it’s a long battle, there is always a way to help win this fight.
You might be wondering, how can managing data be the path to clean governance? If you are, then take a look at the three simple ways below!
When it comes to managing data, it’s important to consider transparency for everyone. It also gives information about updated files to organizations in charge.
Managing data helps address the gaps in data, especially when it comes to decision-making, and provides analytics to identify potential risks. It allows vast analysis of data such as procurement, public asset disclosure, tax records, and many more. This can help avoid the huge reduction of taxpayer funds by enhancing detection.
When it comes to putting files in one place, it makes it simple to access and follow data in one place. It allows users to identify transactions and assign risk ranking and shows when to have more testing procedures.
With this, you can easily detect red flags and identify strange patterns. For instance, when you use a data management platform, having dashboards makes it much simpler to review and track risky transactions and if it’s reviewed appropriately.
Clean data is a good starting point for clean governance. Having an organized view allows your organization to easily detect errors.
But to get that clean view, organizations like yours can consider investing in data management software. You can collect, process, store, and analyze data on this platform.
Data management allows you and your team to have trace and access data in one organized view. It optimizes and manages data quality and helps solve complex challenges. All while promoting clean governance.
Explore how our data management solution, Synti, can help you have clean data here!