As digital transformation accelerates, businesses have renewed their focus on security, stability and fraud mitigation. That’s with good cause: The rapid movement of large amounts of money in today’s digital era provides ample opportunity for fraudsters to exploit any loophole they can find. This is further compounded by the continuous technological changes within corporations, which inadvertently open more avenues for these criminals.
“If you think about the speed at which money can move…4 strategies to protect your business from falling victim to fraudulent activities
As digital transformation accelerates, businesses have renewed their focus on security, stability and fraud mitigation. That’s with good cause: The rapid movement of large amounts of money in today’s digital era provides ample opportunity for fraudsters to exploit any loophole they can find. This is further compounded by the continuous technological changes within corporations, which inadvertently open more avenues for these criminals.
“If you think about the speed at which money can move…
When businesses need to make payments to consumers, there can be inconveniences on both sides of the transaction. Inefficiencies with traditional payment methods, such as wasted time and unnecessary costs, cause frustration for both payors and payees.
Setting up systems to deliver payments for things such as incentives and rewards, rebates, insurance claims, legal settlements or health care patient refunds can create managerial headaches and expenses. Manual payments must be generated, tracked and…
In late 2022, CommerceHealthcare® published its annual assessment of leading issues and opportunities influencing providers. The report, Healthcare Finance Trends for 2023 – Multiple Intersecting Challenges, offered eight themes in four overarching categories:
Financial.
Patient financial experience.
Digital transformation.
Building trust.
Four financial themes were prominent in the year’s first half.
Chasing elusive profitability
The median hospital operating margin turned positive…
In response to an onslaught of unpredictable challenges over the past few years, businesses are looking for innovative ways to improve efficiency. Payment automation is a digital solution an increasing number of companies are adopting.
Automating an accounts payable system isn’t a single change though. Instead, it may include analyzing a business’s current systems and processes and implementing various new technologies, such as a cloud-based system for submitting invoices and receipts, software…
The growth trajectory of a business can be disrupted in many ways. Here are some strategies that can help you navigate everyday challenges and opportunities, as well as the tectonic shifts that can make or break a business.
Be prepared
Owners who stay current on issues affecting the economy, their market and their customers are better prepared to address changing conditions. They know when to adjust a product line, streamline a process or find a safer, more efficient way to pay invoices.
Paying…