Are you being honest with yourself about fraud and other finance challenges? Read the infographic to see how.
Sponsored By: Medius
25% of finance professionals are unable to estimate how much fraud is costing them—because they’re often unaware that it’s happening—but the other 75% put the cost at well over a quarter of a million dollars annually. That’s a lot of money to lose.
In the Financial Census from Medius, 95% of businesses have seen invoice fraud in the last year. Finance leaders are trying to take on fraud, but mostly on their own. What steps can you take to stop fraud:
· Validate important vendor data—make sure they are who they say they are.
· Build in some regulations and a few checks and balances.
· Invest in anomaly-detection technology, so if something isn’t right, it stands out.
· Automate payments and protect the invoice process, end to end.
If you want to dive deeper—and fight fraud more effectively—read the Financial Hurdles infographic.