How much fraud have you been able to prevent?
Using Medius’s revolutionary AI that underpins its autonomous AP, gain greater visibility and control across the entire invoice to pay lifecycle.
Medius Fraud & Risk Protection adds the ultimate protective barrier against fraud and risk for your organization’s finances. This enhanced protection against fraud fights fraud with the benefit of AI-backed technology, so you can trust that only real invoices are being paid to the correct suppliers, and that your company’s hard-earned profits are safeguarded against bad actors and potential threats.
By the numbers:
- 95% of businesses have seen invoice fraud in the last year.
- 34,000 cases across the 2,750 businesses sampled globally.
- 1 case per month, on average, but 19% of business have seen as many as 30 cases in the last year.
Finance leaders are trying to take on fraud, but mostly on their own.
- 57% of businesses say the responsibility to fight fraud is NOT shared between finance and IT.
- Only 42% of companies collaborate to prevent and catch payment fraud.
Here’s how you stop it.
- Validate important vendor data—make sure they are who they say they are.
- Build in some regulations and a few checks and balances.
- Invest in anomaly-detection technology, so if something isn’t right, it stands out.
- Automate payments and protect the invoice process, end to end.
Learn more about our Medius Fraud & Risk Detection here.
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