As the complexity of financial systems increases, so do the opportunities for employees to commit fraud against your organization. Employee fraud costs the average large organization 5% of revenue according to the Association of Certified Fraud Examiners (ACFE), which can make the difference between an organization being profitable or not. Most companies are unable to recover the losses. As individuals take additional measures to protect their personal finances against fraud, now measures can be taken to protection your business.
Protect Your Business Against Fraud with SmartTouch Check Request
Our SmartTouch Check Request™ solution reduces effort, eliminates paper forms, simplifies GL coding, supports image attachments, and automates approval routing, and more importantly, protects your organization’s revenue by identifying fraudulent transactions. Graphical and detail management dashboard presents the information and prevents payment. All documents are stored in Ascend’s robust and easily implemented Enterprise Content Management (ECM) solution.
3 Ways Ascend Software Delivers True Financial Automation
Ascend’s financial automation solutions are designed to enable departments to better manage, monitor, and protect transactions and documents, which can significantly reduce the effort within the Finance department. We provide end-to-end financial automation for organizations in 3 ways:
- Protecting Your Bottom-line – Check requests are merely one of many processes Ascend addresses when automating your financial department, to ensure efficiency and prevent significant monetary loss associated with payment processing.
- Creating Operational Efficiencies — Through intelligent imaging data extraction, Ascend’s AP Invoice Imaging & Automation solution can replace paper-intensive AP invoice processes, and cut processing cost in half.
- Controlling T&E Costs — Ascend’s web-based SmartTouch Travel & Expense solution eliminates paper forms, automates approvals, and automatically enforces travel policies.
Ascend’s SmartTouch Check Request, AP Invoice Imaging and Automation, and SmartTouch Travel & Expense, are all automated online solutions that verify GL account codes, electronically route approval via email notifications, and are accessible through web portal or mobile access. Further, automatic escalations allow organizations to identify, monitor, and manage situations that require heightened awareness and quick action. Lastly, financial transactions such as expense reports, invoices, and check requests, are analyzed for fraudulent activity — if detected, the fraud is prevented with our built-in fraud automation. Only approved transactions are passed for reimbursement and all activity is recorded in an audit log.