Preventing Duplicate Payments: How the right technology controls deliver lock-tight protection against disbursement losses
Supplier payments are likely one of your company’s largest annual disbursements – and one of your greatest areas of risk. Duplicate payments and other disbursement errors can lurk undetected and significantly impact your profitability, without you ever knowing that anything has happened. If you are relying solely on your ERP platform to protect against duplicates, you may be disappointed. While it’s tempting to assume ERP controls are sufficient, the facts prove it simply isn’t so. APEX Analytix recovery auditors routinely identify large losses that ERP systems fail to catch – many totalling in the millions. Here are a few of the many reasons why duplicate payments escape ERP controls and what you can do to protect your operations.