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The Association of Certified Fraud Examiners’ (ACFE) 2020 Report to the Nations found that many fraud risks increase in smallbusinesses (meaning, under 100 employees) than in large businesses. The risk of billing fraud is twice as high, as well as payroll fraud, and check and payment tampering is four times higher.
Running a smallbusiness is hard. We’ve been on both sides of the table, 25 years running a smallbusiness, 5 years working in a bank, and 25 years advising banks on their digital retail banking and lending services. For much of that time, we’ve kept a list of digital features that smallbusinesses can benefit from.
In this article, we'll explore the advantages of payment automation, how it works, and how it can be implemented to simplify payment processes and boost the bottom line for businesses of all sizes. Whether you're a smallbusiness owner or a CFO of a large corporation, payment automation could be the solution you need.
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