COVID-19 has caused companies to deploy employees to work from remote locations. This "work from anywhere" environment which I refer to as WFA has accelerated fraud, waste & abuse reported to have increased 292% during COVID-19.
Companies also face a daunting challenge to control expenses & cash during COVID-19 and the WFA environment. The control of expenses & cash can best be controlled by the uniting of accounts payable & receivable with technology. This will greatly reduce waste, fraud & misuse. The key is to use technology to create a "transactions" based processing environment rather than the traditional documents processing.
Transactions based processes allow you to interact in real time to control expenses & cash. It promotes an "anticipate & authorize" mentality rather than the traditional methods of after the fact verification & approvals.
My newly created webinar Control of Expenses & Cash by Uniting Accounts Payable & Receivable with Technology. Prevent fraud, waste & misuse accelerated by COVID-19 provides a three step solution to make this happen
