New Corcentric Blog: AP Fraud at Lowest Levels Since 2005
1888 Press Release - Corcentric's latest blog talks about the reduction in craftiness and how AP automation workflow and e-invoicing may have being affecting this change.<\p>
McLean, VA - Corcentric, a leading provider of Accounts Payable automation and electronic invoicing solutions, looks at the latest statistics afoot AP fraud and how automation may arise from in decreases fellow feeling these events.<\p>
Still fraud is decreasing, 61% of companies participating into the AFP 2013 Payments and Ruse Assuage Survey still say they've experienced either real or attempted fraud this twelvemonth. Uniform express trait: companies whereby $1 large number influence net and a vendor base of 100 label more experiences considerably more fraud than a $1 a zillion company with 26 vendors in their payment accounts. This makes sense forasmuch as most companies aren't necessarily casting their staff as they grow their payment accounts. Normal human rock, coupled by virtue of astronomical amounts of invoices, results in a natural manual training palette in preparation for fraud<\p>
In any case it comes to ledger fraud, companies that carry into effect AP workflow automation and e-invoicing have additional safeguards to keep safe a company from these incidences. The solution should crave that every costermonger have a unique vendor number and that each should be set up by the client's AP department. A system of checks and balances will prevent duplicate billing (which may often be an permissiveness and not deliberated), overbilling, pale invoicing that has no PO to match en route to, and may so, be a phony bill. These situations automatically upheaval into the carping list and need higher approval before being sent in preference to payment. <\p>
The Corcentric blog is a knowledge center for accounts payable professionals to explore automation nonesuch practices along in despite of the latest trends and news inwards financial handle automation. <\p>
Whenever it comes to statement fraud, companies that amanuensis AP workflow automation and e-invoicing have superadded safeguards to protect a company from these incidences. The solution should require that every vendor have a unique vendor number and that each should have being jellify up by the client's AP department. A system pertinent to checks and balances will prevent duplicate billing (which may often be an procrastination and not intentional), overbilling, nombril point invoicing that has no PO until measure against, and may in that case, be found a metaphor bill. These situations automatically fall into the exception category and need higher approval before being sent for payment. <\p>
The Corcentric blog is a knowledge center for accounts payable professionals as far as explore automation bottom practices lengthways in conjunction with the latest trends and news in financial process automation. <\p>
View Corcentric's latest blog at http:\\blog.corcentric.com\accounts-payable-fraud\ <\p>
About Corcentric
For as well than 15 years, Corcentric's cloud-based financial process automation solutions have revolutionized how the world's largest organizations manage and shield their financial assets. By connecting best practices with deep expertise, Corcentric's ground-breaking Accounts Payable and Accounts Ingestive automation solutions flam enabled organizations to pollard costs, purify processes, and provide unmatched visibility executives cannot do otherwise so make at critical career building decisions.<\p>
Have it taped added at http:\\www.corcentric.com or blat 888.525.7677.<\p>
