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Dear Colleague
Greetings from hot sweltering Delaware where we are
praying for rain-something I know some of you have
had far too much of. I had a note from a reader which
reminded me I've been remiss in thanking our
supporters. She wanted to know if we would be willing
to add one of her staff to our distribution list of this e-
zine. The answer is a big you betcha! We've had quite
a few new readers sign up as a result of a
recommendation from a colleague and offer a
heartfelt thanks to those who took the time to
introduce others to our e-zine.
In addition to a long list of accounts payable
professionals, we've got controllers, CFOs,
accounting folks and vendors' representatives on our
distribution list. So, whether you chose to simply tell a
peer about us, use the forward button at the bottom of
this message or simply forward this e-mail to others
in your organization or at other organizations, we
THANK YOU -and encourage others to do the same.
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Check Fraud Excerpt: Entire Article Available |
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In a recent edition of e-AP News we mentioned the
Spring marketing issue we mailed-which is different
than our Spring Journal.
We've got an excerpt from that issue for those who
may not have received a copy. It was written by
APTechnology's Richard Love.
Shielding Your Business from Check
Fraud
Today, checks represent the largest dollar volume of
all transactions, remaining as an extremely popular
form of payment for business to business payments.
Because checks are being used for high dollar
transactions, they become more vulnerable than ever
to fraud. Check-related fraud continues to rise,
according to banks, industry groups, and fraud experts
alike:
� The latest Nilson report states that check
fraud now exceeds $20 billion annually.
� The Association of Financial
Professionals Payments Fraud Survey (2007)
states checks continue to be the preferred target of
thieves, with 93% of organizations being victims of
attempted check fraud.
And, unlike electronic debit or credit card fraud, there
is no consumer federal protection or standards for
dealing with check fraud. The protocols for reporting,
investigating, and recovering check fraud losses vary
by state and by bank. In addition, prosecuting check
fraud criminals can be difficult and costly, or
impossible for lower dollar checks.
The rest of this fine article can be had by sending an
email to [email protected] with the words
Check Fraud in the subject line.
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Subscribe to Accounts Payable Now & Tomorrow |
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AP Productivity Simplified |
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I've just finished putting together the final material for
Thursday's Webinar and I am pretty excited about it. It
focuses on one of my pet peeves. Poor practices in
accounts payable can cost organizations a lot more
than they realize. It's that simple.
I'm going to start the Webinar by quickly going through
the math to show people just exactly how much the
poor practices cost. We're going to show how to bring
it right down to the bottom line-so that everyone gets
the full impact. Then we'll go through the individual
issues that are often ignored and demonstrate the
financial impact wherever possible.
One of the issues we'll address is invoices not going
to AP first and what I call the cappuccino impact and of
course, lots more.
Okay, I realize I am starting to rant a bit, so I'll take this
discussion to the blog-where my managing editor
tells me it belongs. So, if you want to read more about
my thoughts on simplifying productivity in AP please
visit the AP
blog. And, if you want to know how to do it, please
join us on Thursday.
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To register or more information about the AP Productivity webinar |
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Tip of the Week: Excerpt |
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How closely do you look at your telecom bills? The
following is excerpted from Preventing Fraud in
Accounts Payable to be published in August by
John Wiley & Sons. It is based on an interview with
Bottaboom's Mark Evans, who will be our speaker on
the June 26th Telecom Webinar.
"Most organizations will at some time or another
encounter nuisance fraud, otherwise known as
slamming and cramming. Nuisance fraud usually
cannot make or break a business when it strikes, but
it can drain revenues if left unchecked on the phone
bill.
"Cramming occurs when a third-party provider
charges for services or fees that the customer has not
authorized. These charges are neither ordered nor
desired by your company. These charges can
include products and services such as bogus voice
mail service charges, operator -assisted calls, calling
card programs, monthly service fees, and credit check
services. These charges are often assessed by
dishonest third-party suppliers of data and
communication service that phone companies are
required, by law, to allow the third-party to place on the
bill.
"Also, bogus yellow pages and white pages
advertising can also mysteriously appear on your
business phone bills or be billed to you directly."
There's less than 10 days left to sign up for Mark
Evan's "Think You're Being Overcharged on Your
Telecom Bills? Make Sure You're Not!" Webinar.
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To register or more information about the Telecom webinar |
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My Facebook Adventure |
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And boy, do I use the word adventure loosely-
because to me anyway, adventure usually implies fun.
As mentioned last week, my daughter came over to
help me set up a page on Facebook for Accounts
Payable Now & Tomorrow. It's done-and all I can say
is "I still don't get it." We're now directing some of our
blog to Facebook and are open for "friends". For the
time being, we will probably post most of our events
there, as well. But, I'll tell you this much-I refuse to
post when I go to sleep.
I'm also on LinkedIn, something I understand only
marginally better. If anyone is looking for friends on
Facebook or to be connected on LinkedIn, feel free to
contact me. Somehow, I think this adventure is just
beginning and I'll keep you updated on our next steps.
If any of our readers have any insights on using these
two networks that they are willing to share, I'd really
love to hear from you. Please drop me a note at
[email protected]
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Top Clicks from Last Week's ezine |
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In Closing |
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With all the attention unclaimed property issues have
been getting from the states, I am quite excited about
out two upcoming Unclaimed Property
seminars in Los Angeles and Cincinnati. I hope
to meet some of you there. Until next week, thanks for
listening.
Mary Schaeffer
Accounts Payable Now & Tomorrow, a CRYSTALLUS,
Inc. publication
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