When Nick Gianoudis founded NKG Management Services 18 years ago, he set his sights on creating a world-leading fraud investigation practice for the financial services industry.
The company has grown to provide fraud risk management and investigation services to the financial services and wider corporate firms across Australia and South East Asia.
Keeping track of deliverables
As a busy professional services firm, NKG was experiencing a lot of “leakage” where investigators were performing functions not being charging for. Additionally, internal case management staff and analysts were performing many value-add functions for the investigation and risk management process, but not always allocating the appropriate time to the client.
Following an extensive review of the product, NKG has been using Polonious since 2014.
“Polonious has been a great advantage to our business administrative functions,” Gianoudis says. “We’ve been able to streamline a lot of our backend functions that we would ordinarily perform prior to actually having the system to take away a lot of the human resource element. Cost saving has actually come through that as well.”
Providing a range of business functions
Polonious is now central to NKG’s operations – it is not simply an add-on to the business, it is part of the business.
“I don’t know how we did without it prior to actually having it,” Gianoudis says. “It certainly has systematised our business to a great degree.”
In addition to case management support, Polonious provides a platform for the business owner to examine the metrics around the performance of staff, external stakeholder staff and investigators.
“It gives us the ability to crystallize a lot of that reporting that we need,” Gianoudis says. “It has also enabled us to enhance our productivity because we did not have a lot of the automation that the system provides.”
Efficiencies, and more importantly profit, are the big winners with Polonious.
Full transcript of video taken at Polonious World 2017
Please tell us something about your firm?
My name is Nick Gianoudis. I’m the Managing Director of NKG Management Services we are a fraud investigation firm that’s based in Sydney Australia. We’ve been in operation for 18 years. We provide Fraud Risk Management and Investigation services to the financial services and corporate industry here in Australia and also SE Asia. We have Fraud investigators that are based throughout the Australian region and our partner firms in SE Asia, particularly with the Global firms that we represent within the region.
How long have you been using Polonious?
We have been using Polonious since 2014. Polonious is a system that I was actually reviewing well before 2014 because I wanted to see that it was a system that was right for our business. Through quite a number of meetings and trialling of the system prior to on-boarding it with our organisation and discussion with Alastair and Stuart we implemented the system in 2014. We’ve been using the system ever since. We live in the system, it’s not only an add on to our business it is part of our business now and quite frankly, I don’t know how we did without it prior to actually having it. It certainly has systematised our business to a great degree.
What does Polonious do for you?
Apart from the obvious in terms of the Case Management Support that it provides us or platform. It enables me as the business owner and also the senior staff who not only manage the individual cases but also need to examine the metrics around the performance of our staff and our external stakeholders staff, investigators and so on. It gives us the ability to crystallize a lot of that reporting that we need. It also has enabled us to enhance our productivity because a lot of the automation that the system provides, we did not have before. So efficiencies and more importantly for business – profit, we’ve see the drivers out of that or the benefits out of Polonious.
So have you seen any financial benefits?
As I just stated, the financial benefits have been a lot of the leakage that we were experiencing in the past, not only from the investigator’s perspective where they were performing functions which they were not charging for. Also my internal staff, the case management staff and the analysts again, they were performing what I would classify as value-add functions for the investigation process and risk management process but not necessarily allocating the appropriate time and that has been a great advantage to our business and also the administrative function. So we’ve been able to streamline a lot of our administrative, the backend functions that we would ordinarily perform prior to actually having the system, where we have now been able to streamline a lot of those functions to take away a lot of that heavy human resource element that we once had so cost saving has actually come through that as well.
How are you enjoying the conference?
Excellent. It’s a great forum. There’s been some good speakers that have presented so far. I’m greatly looking forward to this afternoon’s session, particularly, obviously with Joe Pistone. He’s going to be a fascinating person to listen to.