As a business owner, one of your top priorities is ensuring that your company’s financial transactions are secure and free from fraud. Unfortunately, invoice fraud is a common problem that can cost your company thousands of dollars if left unchecked. That’s where Flowis comes in – our innovative financial software solution. Flowis includes an integrated Fraudulent invoice check that can help prevent fraudulent invoices from being processed.
Preventing Fraudulent Invoices with Flowis
Every email and invoice that is received by Flowis is checked to verify the domain it came from. If the domain doesn’t exist or is deemed suspicious, the email and invoice are flagged and routed for special review. The invoices from not-verified domains can’t be processed. It helps prevent the processing of fraudulent invoices and the execution of wrong payments.
But that’s not all – Flowis also checks each invoice for validity and information against vendor master data. It helps prevent the processing of invalid or incorrect invoices, reducing the risk of fraud. By automating these manual tasks, Flowis helps our customers process large volumes of invoices. Moreover, to get paid faster while keeping their financial transactions secure.
The Advantages of a Fraudulent Invoice Check
Reducing the risk of financial loss: By preventing fraudulent invoices from being processed, a fraudulent invoice check can help companies to avoid financial losses. It can result from paying for goods or services that were never received or were misrepresented.
Improving compliance: Many industries have regulations in place that require companies to take steps to prevent fraud. Implementing a fraudulent invoice check can help companies meet these compliance requirements and avoid penalties.
Saving time and resources: Manually reviewing invoices for signs of fraud can be a time-consuming and resource-intensive process. By automating this task, companies can save time and free up resources to focus on other important assignments.
Enhancing vendor relationships: By preventing fraudulent invoices from being processed, companies can avoid disputes with vendors over payments for goods or services that were never provided. It can help maintain positive vendor relationships and avoid potential legal disputes.
At SoftPoint, we’re proud to be a trusted provider of innovative financial software solutions to some of the world’s biggest companies. Our Fraudulent invoice check is just one of the ways we’re helping companies to stay secure and efficient in today’s fast-paced digital world.
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