Accounts Payable Fraud

Accounts Payable Fraud Risks: Make Risk Management a Priority

Why should CFOs make Accounts Payable fraud risks a priority in their strategies to win The Game of Fraud? Because security not only brings a piece of mind for an organization but also a competitive edge.

Accounts Payable Fraud Detection with Cloud-Based AP Automation

Supplier fraud (like fake bank details) and client fraud (like fake invoices) represent two of the most common, and costly, types of Accounts Payable fraud . With a cloud-based AP automation system like Yooz Accounts Payable fraud detection makes it almost impossible for your company to be scammed like this.  

When Fake Invoices Get Real: How to Detect Accounts Payable Fraud with Yooz

Thanks to the Yooz cloud-based end-to-end system that automates your AP workflow, even if a fake invoice came through in an e-mail our system’s validation steps would notice!

Advanced technology and a series of checks and balances help Yooz detect accounts payable fraud before any money is lost. In short, you can sleep at night. We’ve got you covered!

How to Reduce Accounts Payable Fraud: Embrace Advanced Technologies

Integrating advanced technologies like AI and machine learning, into the AP process can help reduce Accounts Payable fraud through frequency analysis, RPA, teaceability, shape/meta analysis, and more.

Why invest in Accounts Payable fraud prevention?

Technologies continue to offer better performance and security, but the reality is that the human factor is still the main source of vulnerability in terms of exposure to fraud today.

Investing in Accounts Payable fraud prevention offers peace of mind and assurance that the company will not (or will no longer) become the victim of fraud, a competitive advantage due to the company’s reputation for reliability, reassurance for commercial partners, and more.

Fighting Fraud: Seven Key Elements CFOs Should Adopt!

Fraud in the digital age poses a multi-faceted problem for all businesses. With technology constantly evolving it’s the role of the CFO now to help manage a team adept at using technology and make everyone aware of the wider strategic implications.

7 key elements every CFO should adopt to prevent fraud in accounts payable:

1. Make risk management your priority
2. Automate your processes
3. Communicate with IT
4. Acquire new skills
5. Engage internal stakeholders
6. Implement a cloud-based automation solution
7. Choose the right technology tools

Benefits of Accounts Payable Automation for Security: When Transparency and Security Intersect

Benefits of Accounts Payable automation for security do not have to exclude transparency and insights into every aspect of your AP workflow. Your AP automation system can, and should, be as transparent as it is secure.