202118 Jun

Procure-to-Pay: Fighting against fraud is no longer an option


And the health crisis only reinforces these risks: the pharmaceutical distributor CERP, for example, victim of a fraud of a phantom supplier for more than 6 million pounds, in an order of hydroalcoholic gel and masks. Sometimes attempts are made to identify fraud patterns by implementing statistical data analysis, an approach that is unfortunately long and expensive. To respond to this growing threat, finance departments must now have tools capable of detecting fraud not only on data, but also on documents and processes. And to be perfectly effective, this detection must no longer be carried out “a posteriori” and on the basis of a test sample, but systematically on all invoices and “a priori”, meaning before payment. This is precisely what ITESOFT offers with Streamline for Invoices, the only Procure-to-Pay digitalisation solution including a robotic detection service for fraud attempts using unique technologies developed with research laboratories: • Controls carried out a priori i.e. upon receipt of the document, therefore before payment • Combination of exclusive image analysis algorithms (graphometry, AI, etc.)

Source: Itesoft Full Article