Unsurprisingly, one of the reasons fraud has hit new heights may be that there has been a strong period of growth – and disruption. As rapid growth boosts the number of transactions a company handles, and disruption causes a certain amount of uncertainty, new opportunities to commit fraud arise.
Controls are often bypassed or overridden as current staff struggle to manage increased workloads, while new hires take advantage of lax recruitment practices put in place to fill positions quickly.
While only four percent of perpetrators have a prior fraud conviction, businesses may be infiltrated for the express purpose of conducting fraudulent activities.
Download the whitepaper here. (no email required)
Centsoft, a subsidiary of Palette Software, offers robust and cloud-based software to streamline all of the steps in the accounts payable process. Centsoft’s AI learns and proactively suggests the best way to record and process invoices for fast and easy approval. Centsoft is a leading provider of SaaS solutions that automates the management of supplier invoices for over 3,000 companies. Centsoft quickly integrates with Quickbooks and Quickbooks Online.