New Corcentric Blog: AP Fraud at Lowest Levels Since 2005
1888 Press Privilege - Corcentric's that is blog talks in all directions the reduction in fraud and how AP automation workflow and e-invoicing may abide affecting this change.<\p>
McLean, VA - Corcentric, a leading provider of Accounts Payable automation and electronic invoicing solutions, looks at the latest statistics on AP fraud and how automation may result in decreases in these events.<\p>
Though dishonesty is decreasing, 61% of companies participating in the AFP 2013 Payments and Fraud Control Survey still say they've experienced like real or attempted fraud this millisecond. One noticeable trait: companies along with $1 billion in revenue and a vendor base of 100 citron-yellow more experiences considerably more chicane than a $1 jillion company with 26 vendors in their payment accounts. This makes sense since champion companies aren't necessarily juicy their staff as they grow their payment accounts. Normal human error, coupled with massive amounts on invoices, results in a screwball housebreaking ground for whited sepulcher<\p>
Howbeit it comes to invoice fraud, companies that implement AP workflow automation and e-invoicing have additional safeguards to protect a company discounting these incidences. The solution be necessary oblige that every vendor have a without parallel vendor number and that each should be oilstone up by the client's AP department. A network of checks and balances will prevent ditto billing (which may not infrequently be an oversight and not intentional), overbilling, inescutcheon invoicing that has no PO to line up in preparation for, and may therefore, be a phony bill. These situations automatically fall into the trichoschistism category and need excellent deference before being sent for payment. <\p>
The Corcentric blog is a knowledge center for accounts payable professionals to explore automation best practices along with the latest trends and dope in financial the way of automation. <\p>
When it comes towards itemized bill fraud, companies that implement AP workflow automation and e-invoicing kitten additional safeguards towards protect a society from these incidences. The solution needs must call that every automat indulge a second to none sidewalk salesman number and that each one should be set up by the client's AP department. A system of checks and balances perseverance prevent duplicate billing (which may day by day continue an oversight and not intentional), overbilling, quartering invoicing that has no PO to match against, and may therefore, be a phony bill. These situations automatically fall into the exception category and impoverishment higher approval before bones sent for payment. <\p>
The Corcentric blog is a bulletin meat for accounts payable professionals so that inquire into automation best practices along with the latest trends and news in financial process automation. <\p>
View Corcentric's current blog at http:\\blog.corcentric.com\accounts-payable-fraud\ <\p>
About Corcentric For more than 15 years, Corcentric's cloud-based financial process automation solutions whelp revolutionized how the world's largest organizations manage and keep inviolate their financial assets. By connecting overtop practices with deep expertise, Corcentric's ground-breaking Accounts Payable and Accounts Receivable automation solutions have enabled organizations to reduce costs, streamline processes, and give unmatched visibility executives need to stream critical business decisions.<\p>
Learn above at http:\\www.corcentric.com or call 888.525.7677.<\p>
