Applicable Usage of Data Uncovers Fraud Trends in Supplier Invoices
Larry Bennett, CEO of AccuImage, was featured in Small Business Trends, Business Accounts Payable Fraud On the Rise Nationwide, Study Shows.
Business payments fraud is showing no signs of abating. In fact, according to a recent study cited by AccuImage, a provider of software solutions and services that help businesses automate their document flow, B2B payment fraud has increased nationwide. Despite business executives and financial officers frantically looking for a solution to curb the uptick in payable fraud, the study finds that more than three quarters of businesses were hit in the past year. “There are many ways to scam accounts payable,” says Larry Bennett, CEO of AccuImage, in a statement, “everything from creating false invoices to check fraud.”
AccuImage offers some handy tips to identify and prevent payments fraud in your organization: Utilize digital processes that don’t rely on paper, monitor requests for duplicate payments, use data to uncover trends in supplier invoices and build strong process integration between Procurement and Accounts Payable. Strong process integration between Accounts Payable and the Procurement function to ensure that goods or services are ordered according to purchasing policy.
AccuImage, headquartered in Santa Clara, CA., has been servicing corporate America since 1988. It is a document processing firm that specializes in helping clients with the storage and retrieval of paper documents and managing of information. They provide tailored, automated workflow solutions that include the digitizing, streamlining and automation of documents, invoice processing and accounting processes. Over the past thirty years, their document and information management services have been used by some of the world’s biggest brands across a multitude of industries from education to health care to public utilities and more. For more information visit https://accu-image.com.
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