Double payments A double payment means that the same invoice is processed and paid twice. Virtually all business systems today have controls in place to detect double payments. As a rule, these controls are based on the principle that there can only be one unique combination of supplier ID and invoice ID. These controls detect some of the situations that would otherwise...

Fraud has increased dramatically in recent years, and all signs indicate that this trend will continue. We have listed the most common types of fraud. External fraud Fraud has increased dramatically in recent years, and all signs indicate that this trend will continue. Today, limited liability companies are a natural part of criminals' arsenal. It is estimated that at least five...

Read our guidelines for secure payments. Learn about our recommended measures for increasing internal control throughout the entire process, from purchasing to payment. We also describe risks and common deviations that result in incorrect payments. Enjoy reading! Fill in the form and we will send you a copy free of charge.

Many thanks to Nordea and to everyone who attended Nordea CM Academy yesterday! It was great to be there and share our experiences of internal control in the purchasing-to-payment process. We talked about risks and how to manage them in order to avoid incorrect payments. Read more about Nordea CM Academy

Incorrect payments of supplier invoices occur in all companies and organizations. 15% of incorrect payments are never recovered Our analyses show that companies recover an average of 85% of incorrectly paid supplier invoices. The main reason for this is that the supplier contacts the company and returns the incorrect payment. Another reason is that the company itself discovers the error and...

Companies are always subject to fraud and other financial crimes. The methods are numerous and the frauds are sophisticated. Security gaps in existing business processes are exploited, with the payment process being one of them. A very important one at that. It is reasonable to believe that the majority of errors and attempted fraud are detected in time thanks to experienced and competent...

Incorrect payments of supplier invoices occur in virtually all companies and organizations. In some cases, the supplier discovers this and corrects the incorrect payment, but far from all do so. Below, we list the five most common reasons why double payments occur. 1. The supplier uses a factoring company An existing supplier starts using a factoring company, but the payment is made...

It has been a fantastic and eventful year so far for everyone in the team, and we are delighted to have gained so many new users since we launched Betalkontroll™ in November last year. We would like to take this opportunity to thank all our users for all the input and suggestions we have received from you. It means a great deal to...