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SPEND PROTECTION

 
Leading organisations know the importance of protecting their assets and reducing risks to these assets, whether it be the company reputation or its profits. For the finance department to offer this protection, there needs to be collaboration between the functions, for example between internal audit and P2P. In addition, a technology solution can often provide the insight that is needed to protect the company’s expenditure and leverage efficiencies.

The AP Forensics® Enterprise suite provides finance professionals at all levels with the tools they need to protect their organisational spend from high-risk transactions and suppliers, compliance failures and fraud.
The automated protection gives them direct control over their transactional finance, brings peace of mind that payment runs proceed error-free and frees up time for P2P staff to focus more on analysis and other higher value activities.

High-Risk Payment Protection

Because AP Forensics® monitors each and every transaction for payment, the risks associated with duplicate payments, compliance failures and inputting or scanning errors are significantly reduced. Payment errors are stopped before they happen.

High risk suppliers or duplicate records are also identified through easy and routine use of the Master Supplier File module, reducing exposure to supplier, invoice and insider fraud.

Protection from Non–recoverable Overpayments

Thanks to advanced algorithms, AP Forensics® can identify errors and potential overpayments in advance, reducing the chance that any slip through the net. This reduces the risk of an erroneous payment becoming non-recoverable if the supplier goes out of business or can’t be traced.

Counter Fraud Protection

AP Forensics® monitors supplier activity across a multitude of rigorous tests and ranks high-risk suppliers with a consolidated report, highlighting any potential areas of concern and bringing greater transparency to financial operations.

Proactive Fraud Deterrence

Once the use of AP Forensics® is communicated internally to relevant employees, there is always a drop in misuse and unseen fraud, as documented in research from the Association of Certified Fraud Examiners.

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