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Measures to prevent fraud in the Source-to-Pay process

Written by ISPnext EN | Aug 23, 2023 11:54:54 AM

Digital transformation and technological advances are playing an increasingly important role in the automation of procurement processes. Due to far-reaching digitisation with automatic checks, risks of fraud are lurking and an increasingly serious threat. Organisations often use intelligent Business Spend Management platforms to promote efficiency and cost effectiveness. But what may not immediately cross your mind is that the BSM platform can actually be used to exploit the growing risk of fraud. In this blog, Juliette Juffermans, Business Analyst at ISPnext, discusses how Procurement Managers or CPOs can limit the risks of fraud by making fraud detection and prevention part of the Source-to-Pay process.