GlobalOptions Group (NASDAQ: GLOI), a leading provider of domestic and international risk management services, today announced enhancements to the GlobalTrak 2.0 Risk Management System, its proprietary enterprise risk mitigation and management solution for customers who are investigating fraud and potential fraud.
GlobalTrak is used by insurance carriers, third-party administrators, legal firms, public entities and Fortune 500 companies that must battle fraud.
GlobalTrak offers a full suite of risk management tools, including background information, evidence processing and management and audio and video surveillance file management. It also provides client companies with contacts and status reports in real time, allowing more efficient internal management of assignments, evidence, and reporting. The objectives of GlobalTrak 2.0 are to greatly improve client capabilities and decrease the total cycle time for active investigations by 15-20 percent, helping clients reduce the cost of their total claim outcome.
The enhancements to the GlobalTrak 2.0 Risk Management System provide GlobalTrack users greater internal efficiencies, which result in streamlined processes and further cost savings, including:
- Integration with mapping software, allowing GlobalTrak users to determine investigator proximity to a subject during case assignment, visualizing investigator density within a geographical area and case proximity to other areas. This allows for a more efficient caseload assignment and reduced travel expenses.
- Integrated invoicing systems, which automatically transfer GlobalTrak case billing information to GlobalOptions' accounting system. Other similar enhancements allow all billing information (time spent on a case, mailing labels, elimination of duplicate entries, etc.) to be integrated into the invoicing system allowing for easier billing process, reducing both time and costs for both GlobalOptions and its clients.
- Case data audit systems that identify key changes made to investigations and assignment data, ensuing that the internal systems remain up to date. This capability is restricted to specific users to ensure that no unauthorized changes can be made to case data.
"GlobalOptions is constantly upgrading our already industry-leading technology to provide our clients the most highly efficient, end-to-end solutions for handling the claims investigation process for companies that need risk management support," said Frank Pinder, President of GlobalOptions' Fraud & SIU. "We invite clients to stay tuned for still more GlobalTrak enhancements during 2009."