December 7, 2017

Going green has become one of the largest global initiatives in recent years, embedding its message in international news, social media, corporate identities and more. There have been many arguments on both sides of the climate change debate but when you look at the numbers within our industry alone, it is hard to deny that[...]

December 5, 2017

Let’s be honest, there is something to be said about a tangible check in your hands. If there wasn’t, a standard from the late 1700’s simply wouldn’t still be utilized today. Everything just seems easier right? No passwords, no hoops, no fuss, just raw data.   Fast forward to 2017. The phrase “The check is[...]

November 29, 2017

There is no one answer to this question. It depends very much on the strategy your company is pursuing, the cash flow situation and the credit rating of your company.   DPO vs. DSO: a cash flow consideration. First and foremost, you do not want to pay your vendors quicker than your customers pay you.[...]

November 28, 2017

Involving different people during the vendor setup, invoice approval and payment process is not only good business practice, but helps you to protect your business from fraud.   External Fraud usually follows two main schemes:   An external person requests that the bank details of a vendor – usually posing as an employee of this[...]

November 27, 2017

The question may seem simple – the answer can be simple or complex, depending which factors you consider and how sophisticated of a model you would like – and how far out you want the prediction to be within a corridor of a certain accuracy. In other terms: if you want to know how much[...]

November 26, 2017

Involving different people during the vendor setup, invoice approval and payment process is not only good business practice, but helps you to protect your business from fraud. According to this article of the Association of Government Accountants, 22% of all corporate fraud cases are happening in the Accounting Department, with an average loss of $180,000.[...]