November 2021: Cybersecurity and Fraud Awareness

December 6, 2021



Metric of the Month: Invoices per FTE

Consistent processes can make a huge difference when it comes to efficiency. Take the number of invoices each full-time employee can process, for example. While automation plays an important role in how many invoices each FTE can manage, process consistency matters too. An end-to-end P2P process yields the highest productivity; desk-level decision-making where everybody does their own thing is the most inefficient; and AP department-level decision-making falls in the middle.

Test Your Cybersecurity Knowledge

Now more than ever, cybercriminals are using new methods to gain access to confidential information. They can involve sneaky, behind-the-scenes attacks on the network itself or techniques that trick you into handing information over. Take this quick quiz to see if you know the basics.



Understanding and Preventing Fraud

The Association of Certified Fraud Examiners (ACFE) recently conducted a global benchmarking survey to get an understanding of how organizations address fraud. Most offer annual training to at least some of their staff, but is this sufficient to keep up with the scammers?



Busting Common Cybercrime Techniques

While technology and your IT group surely have measures in place to prevent cybercrime, there are low-tech methods that scammers will also try to use on your team. Knowing how to recognize the red flags and having a plan to mitigate them can help you protect your organization.



2021 Master Guides to Compliance

Each year, IOFM’s compliance experts publish the industry’s most comprehensive guides to 1099 and 1042-S compliance. The 2021 editions include new mandates for more electronic 1099 and 1042-S filing to the IRS and much more. The Guides will help avoid costly delays and fines.


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