Preventing accounts payable fraud is no easy task but by using an AP automation software like Yooz, it gets easier. Learn how to spot and stop breaches within your organizations accounts payable department and how Yooz can keep your documents secure on our cloud-based platform.
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.
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.
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!
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.
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.
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:
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.
In this white paper learn how today’s CFO is going to be effective in leading the fight against fraud by adapting their defenses to face new and more aggressive forms of fraud and fraudsters who are better organized and more technologically proficient than ever.
Are you ready to learn more about accounts payable fraud and security or have any question about AP automation? We'd love to hear from you!
Complete the form below and one of our AP automation specialists will be in touch shortly.