Tilos`s new, locally developed management information system, Tilos MIS++, can help companies counter fraud and take timeous corrective action in the event of problems, by drawing together data from a number of databases or data warehouses to provide management with a global view of operations.
This is in contrast to normal management information systems, which gather data from one or more sources, place it into a single database, data warehouse or data mart and extract reports or cubes and graphs from that information.
Sybille McCloghrie, director of Tilos, says traditional MIS systems tend not to be operational in their focus and orientation. "Management simply receives a report in either electronic or paper format, and can study it to see where things are going wrong or have already gone wrong. The first problem with such a process is that actions taken on such a report are up to the person studying it and are no longer an extension of the MIS system."
Tilos`s Tilos MIS++ provides a mechanism whereby the person receiving the report can take corrective action against anomalies using the MIS system itself. That corrective action then interfaces back to the source system itself and the origin of the data, either directly or indirectly, thus closing the cycle between when management identify problems from the reports and when they take corrective action.
In other systems, it is difficult to track whether corrective action taken is effective, McCloghrie says.
"The single biggest difference between Tilos MIS++ and other systems is the feedback mechanism that goes through to the company`s underlying systems," she says.
"A secondary difference is that many MIS systems require their own data warehouse into which to pull information. Tilos MIS++ can work with other data warehouses, and a multitude of them at that. If a customer already has an MIS in place, it can simply add Tilos MIS++ on top of that, without having to dispense with the work it has already done," McCloghrie says.
Tilos MIS++ collates figures, reports on them, and monitors processes across diverse systems, distils that data and produces a host of reports and cubes on which to take action.
"For example, if a person applies for a telephone line, with a telco, the application usually moves along various processes, which are fulfilled in isolation, making it difficult to track the progress. Tilos MIS++ can track a single item of work across all systems along the way, so if there is a query about the progress of the application, it can see where it is in a particular process."
If processes are not flowing smoothly, Tilos MIS++ can bring to management`s attention where the bottleneck is and who is holding up the process. It can also counter fraud by alerting, for example, a telco to the fact that an application for a telephone line has been made, but has not reached the billing department.
"This would be a clear indication that someone is trying to defeat the process. At one particular telco there was a case where reps were selling add-on products, for which they were paid commission upfront. They created bogus contracts and claimed the commission, but the sale would never be billed, as they would cancel the deal during the customer`s one-month cooling off period. Tilos MIS++ would be able to pick up such anomalies in the process and prevent fraud."
Tilos MIS++ can also help the financial industry to meet all the reporting requirements soon to be introduced by regulations such as Basel II, says McCloghrie. "These relate to operational risk management, which means banks must not just report on a wide variety of issues, but operationally they must be aware of their risk profile as a business, and be able to provide a third party with such information."
She adds: "The combination of all of the above makes Tilos MIS++ ideal in the operational environment. It allows management to see what is happening in the business on a day-to-day basis, making it a core system."
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