CLEARWATER, Fla.--(BUSINESS WIRE)--The City of Clearwater, Florida has selected ThirdLine’s fraud detection and process improvement analytics software to modernize its auditing processes. ThirdLine’s solution assists with risk-based audits, enables robust fraud detection, and sets up automated financial monitoring across the City.
David Osborn, CEO of ThirdLine, commented, "Our mission is to empower governments with integrated analytics for financial monitoring, auditing, and efficiency without needing an analytics team. It’s estimated that 5% of an organization’s revenue is lost to fraud, and governments are not excluded. From internal fraud threats such as misuse of employee spending to external fraudsters impersonating vendors, we not only detect fraud but help stop it at the very beginning.”
Situated in Pinellas County, Clearwater entrusts its internal audit oversight of the $724 Million budget city to a three-person internal audit team. Jeh Mohr, who began as City Auditor in 2021, carries with him an impressive resume boasting over 30 years of internal audit experience in government, healthcare, and Fortune 500 companies. Intent on maximizing the effectiveness of his team, Mohr championed the transition from conventional audit mechanisms to the innovative risk-based auditing methodology.
Elaborating on the collaboration, Mohr shared, "That's why we are really excited about the opportunity to partner with ThirdLine where they do all the leg work including data analytics, identifying anomalies, and marking red flags, so that we can follow up on those anomalies and red flags. We just don't have the resources to spend time doing that and ThirdLine is a lot more effective. We're really looking forward to partnering with them.”
The decision to purchase ThirdLine came after a vetting process where multiple contenders were evaluated. "ThirdLine met all of the needs including integration with our Tyler Munis ERP system. ThirdLine is specialized in providing analytics on the Munis system. It's the perfect solution," Mohr added.
Echoing Mohr's enthusiasm, other city departments have signaled interest in exploring ThirdLine's Monitoring and Separation of Duties offerings, hinting at potential broader integration in the future.
About ThirdLine: Pioneering in the realm of no-code analytics, ThirdLine fuses efficiency and fraud detection of every transaction within an organization with insightful data analytics on other areas of risk such as roles and permissions and vendor management. Catering to state and local governments, ThirdLine is redefining audit processes and comprehensive financial monitoring.