Several methods have been constructed over the years to combat poor documentation practices and difficulties in receipt submissions. In this blog post, we will describe the strengths and weaknesses of some different approaches put forward. 100% manual review 100% manual review is fully constrained by human limitations. If the person, or people, responsible for your
Common Methods of Receipt Reconciliation Read More »
If undetected fraud is the scheming villain of purchasing card programs, the stalwart hero is data analytics. But this important part of internal controls often doesn’t get the attention it deserves. Data analytics not only aids in the detection of fraud, but also pinpoints the different types of fraud that might be occurring in a
Data Analytics: The Unsung Hero of a Powerful P-Card Program Read More »
By this point, you’ve heard all about artificial intelligence. In more ways than one, it’s inescapable. Not only is it supposedly going to usher in a “new era” in procurement and beyond, but coverage and discussion of it is everywhere. A few times over the course of our lives, we will be around for something
Making Sense of the “New Era” of AI in Procurement Read More »
Artificial intelligence is not a new development. It has existed in infancy since the 1950s, and as a concept, well before that. Unless you had a career or particular interest in robotics, programming, or automation, its impact on your life was likely minimal, unless you happened to be an hour deep in a sci-fi movie.
How AI Augments Procurement Departments Read More »
Science fiction has long warned us about the rise of artificial intelligence. Movies, novels, animation, and pop culture have conjured up images in our minds of AI rebelling against human civilization and causing catastrophe. As you may have noticed, AI has been a hot-button issue recently, not just in the world of procurement, but on
Artificial Intelligence in Procurement Read More »
Discover how to strengthen internal controls around expenses, especially fraud control, with data-driven methods.
Taking Your Fraud Control to the Next Level Read More »
