Articles

Most organisations know that they should be aiming towards best practice processes - but what does it really mean - and can something as diverse as accounts payable ever be constrained to a simple set of rules across all organisations? If we're talking about specifics, the answer is probably no - but the general framework and methods of working can be aligned in a way that can be translated across AP departments regardless of size, to some extent industry and internal culture.

In these days of greater reliance on technology to save us from the perils of fraudulent activity, it’s interesting to consider that tip-offs and accidental discovery remain the two most pertinent methods of detection.

Discover the Four Key Areas Where Accounts Payable is vulnerable

Unfortunately, when it comes to fraud, the old saying “where there’s a will there’s a way” tends to ring true.  While global connectivity has brought the business world closer than ever before, it has also brought new ways to commit fraud along with it.  However, you can fight them at their own game, and turn technology to your advantage.

What are procurement cards?

Procurement cards are charge cards which work in a similar way to credit cards and can be used to purchase goods or services. They can be treated like traditional charge cards and can be open to use with any suppliers or they can have controls placed upon them by the employer, limiting them, to use with only certain commodities or suppliers.

Procurement cards are established across the UK Public Sector and if deployed effectively can deliver significant administrative cost reductions and benefits.