Reducing Payment And A/R Fraud Risk Exposure With Technology

Speakers

George Uko

Manager of Credit & Collections,
Staples

Transcript

[00:01] George Uko: So let's go ahead and talk about two different types of fraud. Let's talk about internal fraud and then let's also talk about external fraud. We'll go ahead and start with the external fraud. Think of the different fraudsters. They're going to go out there. They're going to use the credit cards. Credit cards, if you have them as far as your system where customers could go in, they could go in place orders. They don't need to talk to people. So what they're going to do is they're going to use the stolen credit cards to go ahead and make the purchases. In turn, you're not going to know as buyers, that credit cards are stolen. But that's one way for them to get around as far as your system. So big thing with credit card fraud. Think of it past the different customers. They may be what we call phishing. So with phishing, what they're going to do is they're going to try and take over. As far as your credit card information, they're going to look for you to provide as far as that information. Anytime you have anyone asking for your credit card…

What you'll learn

  • Top A/R frauds to safeguard your organization against
  • Understanding the role of predictive analytics to reduce frauds in A/R

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HighRadius Integrated Receivables Software Platform is the world's only end-to-end accounts receivable software platform to lower DSO and bad-debt, automate cash posting, speed-up collections, and dispute resolution, and improve team productivity. It leverages RivanaTM Artificial Intelligence for Accounts Receivable to convert receivables faster and more effectively by using machine learning for accurate decision making across both credit and receivable processes and also enables suppliers to digitally connect with buyers via the radiusOneTM network, closing the loop from the supplier accounts receivable process to the buyer accounts payable process. Integrated Receivables have been divided into 6 distinct applications: Credit Software, EIPP Software, Cash Application Software, Deductions Software, Collections Software, and ERP Payment Gateway - covering the entire gamut of credit-to-cash.