Are You a Target? Safeguarding Your AP Department through Automation

Tuesday, April 4th
Lone Star C
10:30am – 11:45am
Intermediate

Mim Davis, Former CFO (Retired), Ansira
Heather Stone, Vice President, CSI globalVCard

Session Description

To a criminal exploring ways to steal from a business, the accounts payable department often looks like the equivalent of a poorly guarded cashbox. The 2016 AFP Payments Fraud and Control Survey found that 73 percent of all U.S. companies experienced payments fraud last year.

Technology and automation take the slack out of manual processing, making it more difficult for crooks, who rely on inefficient processes, to sneak fraudulent invoices through. Reducing these losses should be part of any business case for AP automation.

This session will analyze the following:

  • Types of payment fraud
  • Fraud statistics by payment method
  • How each stage of AP Automation helps prevent fraud
    • Invoice capture and imaging automation
    • Workflow automation
    • E-payments