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Removing Critical Risks From Procure-to-Pay
While procure-to-pay processes are being automated and streamlined, some risks persist, largely unaffected by the initiatives that cut costs and increase throughput.
Risks such as:
- Payments as a result of fraud
- Potential damage to the organisation’s reputation
- Incorrect and duplicate payments made to suppliers
- Working capital not available to support your organisation’s strategy
- Finance team not delivering to its full potential
Traditional controls fail to protect from these risks.
With fewer accounting-trained people seeing transactions, a new approach is needed to prevent the causes of these risks.