Combating fraud and corruption is a huge challenge for enterprises, and one that only escalates with a rapidly increasing number of transactions and relationships. For procurement, which is actively engaged with multiple third-party supply partners and contractors, the threat of fraudulent activity emanates as much from within the enterprise as it does outside of it.
So how does procurement, whose role until now has largely consisted of monitoring and response planning, take the initiative and be proactive in detecting and preventing enterprise fraud? For starters, by increasing awareness of processes and activities that contain potential for fraud, as well as the impact of fraudulent activity on operational health.
A new and timely paper, How to Combat Corruption and Fraudulent Activity in Procurement, highlights seven areas often associated with enterprise fraud. It discusses specific scenarios that lead to risk exposure, and the steps procurement can take to mitigate those risks.
A must read for today’s dynamic procurement leaders looking to confront risks and play a greater role in operational security. Get your copy today.