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Automated Payments Can Improve Your Company's Bottom Line
"Time is Money" is more than just a cliché when it comes to migrating to an automated payments system, significantly improving a business' capital management productivity. Yet some companies continue to confront time, cost and efficiency challenges by operating with laborious and cost intensive manual and paper-based processing. Why? Paper may be to blame, at least in part. The majority of companies - to the tune of 74 percent - receive their invoices in manual
Internal Fraud: Six Ways Your Bank Can Help Reduce Risk
As we have been discussing in this series of articles, no business is immune from the risk of internal fraud. Two-thirds of businesses that responded to a 2012 survey conducted by the Association for Financial Professionals (AFP) said that fraud had been attempted in their organization, and the average internal fraud loss among those that were victimized was more than $20,000. There are many potential reasons why businesses today may be especially susceptible
Occupational Fraud: Five Internal Controls That Can Reduce Your Risk
As we discussed in our last article, businesses of all sizes, in all different types of industries, are potentially vulnerable to the risk of occupational fraud. According to the Association of Certified Fraud Examiners (ACFE) 2012 "Report to the Nations," the typical organization loses five percent of its revenues to fraud each year. What's more, in more than one-fifth of these cases, occupational fraud losses totaled $1 million or more. The fraud cases in the
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