Fraud & AP Solutions: Did Your Supplier Change Banks or Are You Getting Robbed?
Fraud &AP Solutions: Did Your Supplier Change Banks or Are You Getting Robbed?
Fraud shouldn’t just be a “cost of doing business.”
Organized crime and disingenuous individuals are becoming far more practiced and professional in the art of stealing from you.
They thrive on:
- Manual invoice processes.
- Messy paper trails.
- Finance people who can make transactions without additional approval.
44% of businesses have been targeted by invoice fraud. 43% of businesses have been hit by Business Email Compromise (BEC) scams, according to a 2024 survey of 1,533 finance professionals from Censuswide Research. If you want the upper hand in the fight against fraud, put AI and machine learning to work, turning your manual or template-based processes into secure, autonomous processes. The real promise of AI and machine learning isn’t merely simplifying manual AP processes, it’s eliminating them.
Key Insights:
- Censuswide Research on the current impact of fraud within AP.
- How AI and ML can mitigate the risk of fraud within AP.
- Moving beyond automated AP processes to autonomous.
Speaker details:
Daniel Ball
Chief Product Officer at Medius
As Chief Product Officer for Medius Daniel is responsible for setting and delivering the product strategy for the Medius platform, encompassing multiple product areas and charting the direction for a substantial Research & Development team, globally. Based in Manchester, Daniel was previously EVP of Product and SVP of Innovation at Medius. Prior to that, Daniel was Co-Founder & CMO of Wax Digital, a global provider of Source to Pay solutions serving 150 enterprise customers. Founded in 2001 and acquired by Medius in November 2019, at Wax Digital, Daniel was responsible for growing all aspects of the business, ranging from sales, marketing, and product. His experience brings a broad perspective to the product function, grounded in outward facing strategic principles and practices.
