Fraud Fear & How to Prevent Fraud

Stop Procurement Fraud

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Fraud

If fraud is not a procurement fear in your organization, it should be. The 2015 Kroll Global Fraud Report found that 75% of US companies experienced at least one fraud in the previous year. This statistic was self-reported so the reality is that this number only reflects the fraudulent activity that was detected. Many fraudulent acts are never realized and can easily continue for years without the proper safety measures in place.

Prevention & Resolution

For fraudulent procurement activities, prevention is key. As procurement fraud continues to rise in the US, organizations must make efforts to protect themselves. One way to prevent fraudulent activity is through better tracking through e-procurement. With a digital procurement platform, organizations get better insights into trends and outliers. By spotting these outliers, procurement leaders can stop fraud before it becomes an incredible expense.

For more tips on preventing fraud, see 7 Steps to Prevent Procurement Fraud.

Learn more about how to handle procurement fraud by requesting more information through our contact form below or requesting a live demo.

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