Detect and Prevent Profit Leakage

• Improve P2P Process Execution with automated Smart Controls
• Reduce losses due to unintentional errors and fraudulent payments
• Achieve cost savings by ensuring on valid and approved payments are processed

Organizations lose millions of dollars in their procure-to-pay processes to unintentional errors and misuse. With overpayments alone costing the typical organization a thousand dollars for every million spent, detecting problems before they escalate or even occur can drive substantial cost savings.
FulcrumWay Procure to Pay Advanced Controls solution will enable you to improve business execution via process optimization, reduce fraud and errors, and achieve compliance.

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We provide out-of-the box as well as configurable content from our Smart Controls Cloud to mitigate risk in the entire procure-to-pay (P2P) business process to achieve control objects for P2P Business Process Owners, Control Owners, auditors, and IT managers. For example, you can download P2P Supplier Master controls to ensure that supplier profile is accurate according to the negotiated contracts and terms. Any violations of supplier master policies, procedures or business rules are detected and prevented based on the risk tolerance level.

You can setup controls to continuously monitor changes made to supplier data to ensure the accuracy of the data. We can also assist you implement Advanced Controls Platform such as Oracle Transaction Controls Governor (TCG)to reduce errors, fraud and abuse in the P2P process. Advanced controls can identify potential duplicate vendors in the system where standard ERP controls are ineffective. Transaction Controls can compare and find suppliers that have similar—but different—spelling, perhaps as a result of abbreviations or simple transposition errors. Transaction Controls can also improve your Recovery Audit process by timely detection of duplicate invoices and payments that can reduce the cost of third-party investigations for post-audit recovery and collections.

In addition, our P2P Controls Solution includes monitors that track changes to key supplier master data and configurations including address, bank routing information, receipt and purchase order dates, payment terms including discounts, and tax information. We can assist you implement application configuration management solutions such Oracle Configuration Controls Governor (CCG) that will produce 'snapshots' of before and after values that are updated. A "change tracker" CCG control will provide answers to who, what, and when the updates were made.

Visit FulcrumWay Smart Controls Cloud now to download Procure to Pay controls including:
AP Invoices Over Threshold, PO Over Threshold Amount, Split Purchase Orders, Duplicate Vendor Payments, Inventory – Purchase Price Variance, Changes to key supplier master file data (e.g. bank account or delivery address info), Matching supplier payment info to employee bank account info, Check for invoice amounts not matching contracts or purchase order amounts, Compare prices across vendors to see if prices from a particular vendor are unreasonably high, Review for unexplained increases in inventory. Determine if purchase quantities of raw materials are appropriate for production level. Check to see if increases in quantities ordered compare similarly to previous contracts or years or when compared to other plants

We enable Purchasing Managers and Internal auditors

• Detect effectiveness of embedded system controls that support the P2P Cycle
• Monitor changes to supplier master data and payment activities
• Prevent losses due to over payments, duplicate payments or fraudulent payments.