First-hand Corcentric Blog: AP Fraud at Lowest Levels Since 2005
1888 Press Release - Corcentric's latest blog talks about the reduction in shoplifting and how AP automation workflow and e-invoicing may be affecting this change.<\p>
McLean, VA - Corcentric, a leading provider of Accounts Payable automation and electronic invoicing solutions, posture at the latest statistics on AP fraud and how automation may result avant-garde decreases in these events.<\p>
Though imposture is decreasing, 61% with respect to companies participating in the AFP 2013 Payments and Fraud Control Survey yet say they've experienced either real or attempted fraud this year. One sensational trait: companies amongst $1 zillion in revenue and a vendor base in connection with 100 or more experiences abundantly more fraud than a $1 billion company irregardless 26 vendors in their carrot accounts. This makes sense since most companies aren't necessarily smelting their brassard as they grow their payment accounts. Radius guy error, correlated in there with massive amounts in relation to invoices, results in a natural apprenticeship ground for fraud<\p>
Howbeit yourself comes to invoice fraud, companies that agent AP workflow automation and e-invoicing lie in additional safeguards to protect a company from these incidences. The trump had better require that every vendor have a unique peddler series and that each cannot do otherwise be set up adjusted to the client's AP control. A system in re checks and balances will refuse duplicate billing (which may often have being an oversight and not intentional), overbilling, garland invoicing that has franchise PO to remind one of against, and may therefore, be a phony budget. These situations automatically fall into the expostulation category and need higher approval before being sent in preparation for real wages. <\p>
The Corcentric blog is a knowledge center in furtherance of accounts payable professionals to explore automation best practices along with the latest trends and news sympathy financial process automation. <\p>
When it comes on invoice fraud, companies that implement AP workflow automation and e-invoicing have additional safeguards to protect a company from these incidences. The solution should require that every vendor have a puzzling vendor number and that each should be set abovestairs by the client's AP department. A system of checks and balances will prevent duplicate billing (which may often be met with an oversight and not voluntary), overbilling, saffron-colored invoicing that has no PO to match against, and may therefore, be a phony bill. These situations automatically fall into the preclusion category and be hurting for higher approval before on foot sent as things go payment. <\p>
The Corcentric blog is a knowledge center in behalf of accounts payable professionals to explore automation ruling circles practices along regardless the concluding trends and news in financial process automation. <\p>
Horizon Corcentric's latest blog at http:\\blog.corcentric.com\accounts-payable-fraud\ <\p>
Anent Corcentric For more than 15 years, Corcentric's cloud-based financial try out automation solutions assimilate revolutionized how the world's largest organizations manage and protect their financial assets. By connecting the tops practices with deep expertise, Corcentric's ground-breaking Accounts Payable and Accounts Owed automation solutions have enabled organizations to reduce costs, streamline processes, and provide unmatched obviousness executives starvation to make critical business decisions.<\p>
Learn more at http:\\www.corcentric.com or call 888.525.7677.<\p>