A news item on fraudulent invoicing caught our eye this week as the Annual Fraud Indicator 2012 found procurement fraud cost central government £1.4bn and referred to ‘double invoicing’ in particular.
While there are no fail-safe mechanisms to prevent against fraud, e-Invoicing provides many controls that simply do not exist with paper.
Organizations need to implement all the necessary controls to prevent against fraudulent activity and test them on a regular basis. Having the right systems in place – like e-Invoicing – enables companies to enforce control and gain greater trust in their processes.
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