The disruption caused by the COVID-19 pandemic has forced businesses into making changes to their processes. But in some cases, this has increased company vulnerability, particularly to threats like invoice fraud with opportunist fraudsters taking advantage. However, companies that have embraced AP Automation find themselves better protected against fraud. Invoice fraud has been growing in
From setting up new suppliers, raising purchase orders and approving invoices, the Accounts Payable workflow is ripe with fraud opportunities and without sufficient internal control measures in place, fraudsters can gain easy access to your company’s processes and information. However, you can mitigate the risk of fraud and protect your company by implementing certain procedures, such as the automation of your invoicing process.