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Fraud News and How to Prevent It

An Accounts Payable Manager at Carolina Steel Group, Angela Womack, has been convicted of multiple counts of wire fraud and money laundering.  Womack managed to create non-profit accounts named "IBOCF."  She made the checks payable to "International IBOCF" which were included on the company's vendor reports, even though it was not one of Carolina Steel Group's vendors. She altered internal accounting data and made the checks to appear to be paid to legitimate vendors.

Womack was sentenced to 70 months in prison along with three years of supervised release.  Womack is ordered to pay restitution of $2,857,201.85 and a special assessment of $300.00.  Read the full news article here.

Make sure your organization has strong internal controls in place. Here are a few tips on how to prevent fraud:

  1. Integrate the appropriate segregation of duties (one person per leg).
  2. Run frequent reports showing who has access to what. Be sure to take into consideration promotions and employees who left the company.
  3. Create a written, detailed expence policy for your organization.
  4. Compile daily bank reconciliations and check for unauthorized transactions.
  5. Automate your accounts payable process which will allow you to have an audit trail and set approval routes. It greatly reduces your risk of fraud when you know who did what when.

Check out our on-demand webinar on internal controls here.

SMBs are Embracing the Cloud

The cloud. You've probably heard the buzz about it and you might already be using it if you use social networking sites or online storage.  It plays a key part in our lives today and is changing business processes.

The cloud has played a significant role in the world of accounts payable automation, in particular paving the way for small to medium sized businesses to take advantage of it.  In the past, AP automation was limited to large enterprise companies who had the human and capital resources to implement this type of technology.  

Today, the flexibility of the cloud makes it a perfect fit for SMBs since it involves no excessive set up, infrastructure, storage, or ongoing maintenance costs. The ease-of-use, reduced costs, and scalability of the cloud are driving the SMB market to adopt AP automation.

SMBs interested in winning the game this year and beyond will gain quantifiable advantages through the adoption of AP automation.

To learn more about how SMBs are adopting AP automation, check out our new article here.

Carpenter's Shelter: A Fun Volunteer Experience

Our Operations team recently volunteered at Carpenter's Shelter where they sorted and organized various donations for the homeless.

The team said it was absolutely amazing to see the generous donations and the great amount of community support.  This was a fun and rewarding volunteer experience and they were happy to give back!

About Carpenter's Shelter
Carpenter's Shelter is the largest homeless shelter in Northern Virginia and serves over 1,000 homeless and formerly homeless children and adults each year.

Carpenter’s Shelter’s comprehensive continuum of care offers continuous services, aiding the chronically homeless and shelter residents through their transition back into independent living. Their organization empowers clients to address the issues which led them to homelessness, and provides the tools necessary to achieve lasting independence. 90% of those who complete their program never return to homelessness again.

Anybill Customer Service Receives Platinum Designation in IOFM/TAPN Certification Program

We are proud to announce our customer service team's completion of the IOFM/TAPN certification program.  Several in the department performed at an unusually high level on the exam to be awarded certification "with distinction."

“Anybill is honored to have received certification from IOFM/TAPN, and I congratulate our entire customer service team for achieving this distinction,” said Anybill Chief Operating Officer Rudy Bejarano. “It’s a testament to the department’s commitment to professionalism and customer service.”

Read the full press release here.

A Great Experience Volunteering at Thrive DC

Our Operations team volunteered at Thrive DC and served a hot, generous breakfast to the homeless in the DC area.  Our team members really enjoyed the experience and were happy to give back to the community!

Thrive DC offers a comprehensive range of programs for homeless and vulnerable individuals. Their organization's ultimate goal is to prevent and end homelessness by providing services to vulnerable individuals to help restabilize their lives.  Learn more about Thrive DC and see how you can make a difference here.

Happy Holidays from Anybill

                                 

It's the most wonderful time of the year, again!  However you're planning to spend your holiday season, we wish you the happiest of holidays from all of us here at Anybill!

Our office will close at 2:00 pm EST on Tuesday, December 24 and we will be closed on Wednesday, December 25 in observance of Christmas Day.  Our office will reopen on Thursday, December 26.

Happy Holidays!

Think Before You Blink

According to the Washington Business Journal, a woman from Maryland pled guilty to stealing $5 million from a non-profit over an eight year span.  She generated fake invoices, approved the invoices for payment, and deposited checks into accounts she had created.  She even created invoices and approved payments to a bridal shop she privately owns.

How can you prevent this from happening to your business?  It is important that you instill strong internal controls within your business and more importantly, implement a good transparent accounts payable process. Having clear duties for each working group is critical. No one person should handle more than one type of function.  It is also a best practice, within any industry, to review master vendor files on a regular basis to help detect and deter fraud.

Don’t let this happen to your business.  Take action and make sure you have strong, effective internal controls in place.

To read the full article from the Washington Business Journal, click here.

Winner Announced from the AFP Annual Conference

We're excited to announce JOHN DALY as the winner of our "The Way You Do the Things You Do" drawing from the AFP Annual Conference.

Everyone has their own way of doing things. In life and at work. So whether you like martinis shaken or stirred, the electric slide or harlem shake, or prefer PCs to Macs, it is all the same to us as long as you get AP automation your way. John won his choice of an iPad® or Surface™ and selected an iPad®.

            

Thank you to everyone who participated in our drawing and visited us during the AFP Annual Conference. We certainly enjoyed the conference and we hope you did too.

Congratulations, John!

Anybill Expands Its Commitment to Community Organizations

We're continuing our commitment to community wellness by supporting the American Heart Association and Whitman-Walker Health in upcoming fundraising events. With heart disease and AIDS remaining critical threats to public health, we support the search for improved treatment and will participate in the 2013 Greater Washington Region Heart Walk and AIDS Walk Washington DC.

To get all of the details, read the full press release here.

AIDS Walk Washington - October 26, 2013

Our commitment to corporate social responsibility is an important priority to us here at Anybill.  On Saturday, October 26, we will join thousands of other individuals in the 27th Annual AIDS Walk Washington.

This event is a 5K fundraising walk and timed run benefiting Whitman-Walker Health, a non-profit organization providing dependable health care to those infected or affected by HIV/AIDS.

To learn more about the event, click here.

                           Pictured above: The Anybill team at the 2012 AIDS Walk Washington.

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