Genpact is a global professional services firm that makes business transformation real. They drive digital-led innovation and digitally-enabled intelligent operations for their clients, guided by their experience running thousands of processes primarily for Global Fortune 500 companies. They think with design, dream in digital, and solve problems with data and analytics. Combining their expertise in end-to-end operations and their AI-based platform, Genpact Cora, they focus on the details.
Accounts payable, procurement, and travel and expense-management processes are common channels to route frauds making organizations susceptible to regulatory penalties, reputational damage, financial loss, and even prosecution.
Your company may be spending less on travel and entertainment expenses, but the risk of fraud and regulatory non-compliance is spiking. Without proper safeguards in place to manage T&E spend – a major operating expense – companies face costly consequences.
Businesses are rethinking their strategies to maintain operations, minimize supply chain disruption, and manage heightened exposure to financial, legal, regulatory, or reputational risks.
As businesses and employees work to re-establish stability and reset targets following the disruption caused by coronavirus, they will be more vulnerable to fraud, corruption, and regulatory violations.
Damaging headlines like this have grown steadily in recent years. Triggered by third parties – such as suppliers, joint-venture partners, and contractors – and exacerbated by longer, more complex supply chains, compliance failures are becoming commonplace. Especially as regulators extend their reach. Building a sustainable framework for third-party risk using ...
Organizations are failing to solve the employee-spend challenge as travel and expense (T&E) transactions continue to suffer from non-compliance and fraud. Companies also have unnecessarily high audit costs and inadequate risk coverage thanks to manual testing of T&E transactions.
Read this practical guide that outlines the four key TPRM processes to adopt, and how a Lean Digital approach successfully embeds digital technologies through design thinking methods and Lean principles.