In my last two blog posts “Check Payment Method? Still Needs to be Protected from Cybercriminals” and “4 Steps to Protect Your Vendors Banking from Being Changed by a Cybercriminal Includes a Critical Step Most Companies Leave Out” I identified additional steps that will need to be done when making changes to existing vendor data. In fact, many of the fraud prevention techniques I recommend to protect the vendor master file from fraud require additional steps. And, since less than 30% of Accounts Payable (AP) Vendor Maintenance teams have a vendor self-registration portal, these additional tasks are manual and are added to an already manual or mostly manual Vendor Setup & Maintenance process. RPA to the rescue.
Check out my website www.debrarrichardson.com if you need help cleaning your vendor master file or implementing authentication, internal controls and best practices to it from fraud.
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Links mentioned in the podcast:
· RPA Tools & Vendors provided by AI Multiple.com. Click here for a list
· More ideas? Email me at email@example.com
#stayhappy #accountspayable #fraud #cybercriminal #checkpayment #checkfraud
Music Credit: www.purple-planet.com
Debra R. Richardson,
MBA, APM, APPM, CPRS
Debra is an accounts payable speaker, consultant, and trainer with over 20 years of experience in AP, AR, general ledger, and financial reporting for Fortune 500 companies including Verizon, General Motors and Aramark.
For the past eight years, Debra has focused on Global Vendor Maintenance, and implemented a vendor self-registration portal for 140k+ global vendors across five Accounting Systems/ERPs. In her consultancy, she focuses on internal controls and authentication to prevent fraud in the vendor master file.