Strategies for Reducing the Risk of Fraud

Businesses lose millions of dollars annually to rising check and electronic transaction fraud. In fact, thieves steal more through check fraud than through bank robberies, the U.S. Federal Bureau of Investigations reports. Fraud is now a permanent risk that businesses must be prepared for. U.S. corporations spend more than $50 billion annually in technology and services to mitigate the potential risks of fraud, studies show. But most corporations are not as focused on the vulnerabilities of managing bank accounts and bank communications. This route, in many cases, is an easy option for those intent on fraud by accessing bank accounts or payments processes. Do not panic! There is an answer. This white paper outlays why fraud mitigation is more important than ever, details the vulnerabilities of traditional approaches to managing bank accounts and communicating payment information to banks, and clearly defines three strategies for reducing fraudulent payments.   [marketo-fat form="969"]

Strategies for Reducing the Risk of Fraud

Businesses lose millions of dollars annually to rising check and electronic transaction fraud. In fact, thieves steal more through check fraud than through bank robberies, the U.S. Federal Bureau of Investigations reports. Fraud is now a permanent risk that businesses must be prepared for.

U.S. corporations spend more than $50 billion annually in technology and services to mitigate the potential risks of fraud, studies show. But most corporations are not as focused on the vulnerabilities of managing bank accounts and bank communications. This route, in many cases, is an easy option for those intent on fraud by accessing bank accounts or payments processes.
Do not panic! There is an answer.

This white paper outlays why fraud mitigation is more important than ever, details the vulnerabilities of traditional approaches to managing bank accounts and communicating payment information to banks, and clearly defines three strategies for reducing fraudulent payments.

 

Order to Cash Survey of Global Process Owners

In a 2016 Dolphin and Shared Services Link conducted a survey of Global Process Owners asking them what challenges they face in managing the complex order to cash process.

Survey results show that 53% of GPOs cite lack of standardization as the primary challenge to improving processes. In order to cash, this lack of standardization is driven by (35%) poor alignment between teams and issues around global compliance and master data. The good news is that having a GPO in place is the best indicator of achieving more standardized processes as 63% of organizations with a GPO rate their processes as Good or Excellent.

Other topics covered in the survey include:

  • Barriers to improving Days Sales Outstanding
  • Degree of process accuracy
  • Challenges with timely access to information
  • Degree of automation in processing
  • Ability to report on and measure order to cash cycle time
  • Emergence of robotic process automation and cloud solutions to support processing

To find out more, download our Order to Cash Survey Results Report today.

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Moving to S/4HANA: 3 Tips for Managing Data to Ensure a Faster and Easier Transition

hana124This white paper discusses proven data management strategies that companies can employ today to help them move to S/4HANA quickly and cost effectively in the future. Topics include:

  • How to reduce data and shrink the footprint of existing systems before moving to S/4HANA.
  • How to implement a data and document retention plan that will ensure compliance with information retention policies in existing systems and in S/4HANA systems.
  • Benefits of decommissioning legacy systems after the move to S/4HANA is complete.
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Audit Extraction Cockpit

This whitepaper describes how the Audit Extraction Cockpit can be used to extract SAP online and archived data according to audit and fiscal requirements. The Audit Extraction Cockpit can be used to respond to specialized global audit requirements including Sarbanes-Oxley (SOX) in the US, Standard Audit Format – Tax (SAF-T) in the European Union (EU), and other emerging audit requirements in Latin America and around the world.

 

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Data Archiving: The First Step Toward Managing the Information Lifecycle

Data archiving strategies are designed to improve performance and manage costs, moving static data from the online database to offline archives. Information Lifecycle Management (ILM) adds a new level to
the performance – cost dynamic: manage data in compliance with outside and corporate retention rules and business requirements; maintain ready access to data and documents; protect the organization from
legal and business risk.

This white paper discusses best practices for managing data in SAP systems and how data archiving can be used as part of an information lifecycle management strategy.

 

Oil and Gas Industry Overview

Dolphin helps oil and gas companies keep operations flowing with process and data management solutions for SAP® systems.

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Winning the Global Order to Cash Process Transformation Race

The Order-to-Cash process is at the heart of your business. And yet, this process is often surprisingly disjointed, inefficient and difficult to track. In theory, order-to-cash is a single “mega” process that moves an order through the organization from sales through delivery, billing and finally to payment processing. In reality, however, order-to-cash touches many different departments which are either unable or unwilling to work together.

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A Strategic Approach to Data Archiving

Organizations across industries rely on a variety of SAP applications to power their business processes. These systems are vital conduits for the data that’s needed to run these businesses. While fast, ready access to this data is crucial in today’s hypercompetitive world, many companies store far too much information in their SAP production systems. Compounding matters, a recent report from Meta Group indicates that annual database growth is expected to exceed 125%. The impact of all that data is significant: severe performance issues that reduce productivity, diminish customer service and lead to an inefficient or lengthy audit and compliance response.

This White Paper covers trends and strategies for managing rapidly growing data while maintaining optimal SAP system performance. Find out how organizations such as yours can take advantage of strategic data archiving to ensure that end users can access and work with data as needed. By implementing such a system, you’ll satisfy your line-of-business owners, along with your service level and audit/legal/compliance requirements.

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PBS Nearline Analytic Infrastructure

At a time when data volumes are experiencing enormous growth at the same time that regulatory requirements are on the rise, SAP users find themselves caught up in a dilemma: the cost of storing data continues to increase, databases are getting larger and larger, the share of archived data continues to grow, and the runtimes for archiving data are getting longer and longer. At the same time, being able to access archive data in an extremely fast and integrated manner has become quite normal in many applications. For instance, many international companies often need to archive up to 500 million documents from SAP profit center accounting each month.

As a result, users will need to spend more time looking to find innovative integrated solutions for multi-terabyte systems that are capable of satisfying a multitude of different commercial and legislative requirements. PBS has risen to these challenges by introducing a new solution that is based on a rather innovative approach: PBS Nearline Analytic Infrastructure (PBS NAI).

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PBS Enterprise Content Store

Information from operative application systems such as ERP systems is a central production factor in global economic cycles, but also represents an important basis for doing business. Some of this data has to be made available for years, if not decades, according to the applicable laws. On the one hand, national regulations such as the Telecommunications Act, the Federal Data Protection Act (BDSG), and the Principles for Data Access and Verifiability of Digital Documents (GDPdU) must be observed. On the other hand, companies that operate globally are subject to international law. This ranges from Basel III for analyzing credit-worthiness, through diverse EU regulations, to the American Sarbanes Oxley Act that can have an influence even in German companies if they have business relationships with US companies. The challenges of a modern Information Lifecycle Management concept involve storing information securely and inexpensively whilst observing rules and regulations, and ensuring permanent and easy access to it.

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PBS ContentLink

PBS ContentLink is a lower cost, highly efficient content management option gaining traction among SAP users. PBS ContentLink is a powerful lightweight, alternative to traditional content management systems and enables archiving to meet legal requirements and support an ILM strategy. Unlike traditional content management systems, PBS ContentLink uses SAP as the application layer and hard disk storage systems for long-term data retention to deliver fast, reliable access to stored data, documents and DART extracts. The result is a content management system that can be implemented faster and administered simply while delivering higher performance at lower costs.

PBS ContentLink is implemented as a “stateless” translation software between the SAP solution and long-term storage devices for archived data; this means that no information on stored data and documents has to be maintained on the ContentLink content management server. Instead, the PBS ContentLink server maintains only configuration data and optionally cached data of stored documents for performance improvement. Persistent information resides on the storage hardware layer and within the SAP solution. With stateless implementation, PBS ContentLink takes advantage of existing backup and replication functionality for SAP and storage hardware and requires no additional configuration.

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PBS Archive Add Ons for SAP Solutions

PBS archive add ons assure users that they can retain transparent access from SAP to their information even when it’s archived. It allows them to view and access archived information together with online information – users see the archived data in the same way, and with the same screen layout, as they did when it was still in the database.

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SAP Legacy Decommissioning and System Consolidation

Overall, legacy migration and system consolidation often represents an evolution in ILM strategy for an organization using SAP solutions. The move is from closed and disconnected systems into an open platform-based consolidated SAP application. Legacy system migration inherently reduces costs by enabling the organization to shut down systems eliminating hardware and software costs to maintain those systems that only exist for the purpose of accessing the data. System consolidation further reduces costs, simplifies management and streamlines a company’s information lifecycle management (ILM) strategy for data retention, security policies and compliance.

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e-Invoicing for SAP Accounts Payable: Towards True Paper-free Vendor Invoice Processing

Accounts Payable, with its manual, paper-based operations, has much to gain from automation. The process is time-consuming, repetitive and error prone. More urgently, the people responsible for the process have no visibility into it and cannot be assured of getting timely, accurate information on demand. Yet, too many organizations have not realized the full value of process automation initiatives or not undertaken them at all.

This white paper details inefficiencies and obstacles in Accounts Payable focused around invoice capture and processing. Highlighting solutions available to automate and optimize the “invoice-to-pay” portion of the process, we discuss options that bring us closer toward a true paper-free environment. Financial & Process Excellence is only possible when paper is truly eliminated.

Please fill out the form to access the White Paper.

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