Is it Possible that Your Accounts Payable Process is an Opening for Potential Hackers?

We've all seen the red highlighted message at the top of an email, "CAUTION! IF THIS EMAIL ORIGINATED OUTSIDE OF THE ORGANIZATION DO NOT CLICK ON ANY LINKS".

Does your Accounts Payable Process rely on suppliers emailing invoices to your business and your AP Staff then open each email one-by-one, download a PDF or file to their computer and then print each invoice to paper.

"EMAIL IS THE NUMBER ONE METHOD USED BY HACKERS TO EXPLOIT AN ORGANIZATIONS INFRASTRUCTURE, GAIN ACCESS AND STEAL INFORMATION"

An AP Automation platform like, "Vision360 Enterprise", eliminates the need for AP Staff to open emails, download PDF files and print invoices. This dramatically reduces the risk of fraudulent emails exposing an organization to potential hacking or phishing schemes.

In addition, this is an incredible time saver by reducing the amount of time and energy it takes an AP Department to open and print emails.

An AP Automation platform like "Vision360 Enterprise" will apply a series of business rules and validations against the incoming invoices to further ensure that they are being submitted from "legitimate vendors". By having centralized processing coupled with consistent internal controls that are applied systematically and not relying on human intervention the risk of potential fraud is greatly reduced.

What are computer hackers?

Computer hackers are people who break into internet-connected devices such as computers, tablets and smartphones, usually with the intent to steal, change or delete information.

Just as other thieves have malicious intent, hackers usually find their way into devices for negative purposes. (However, one exception is so-called white hat hackers, whom companies hire to break into their devices to find security flaws that need to be fixed.) Hackers may want to steal, alter or delete information in your devices, and they often do so by installing malware (software used for malicious purposes) you might not even know is there. These thieves might get access to your most precious data before you’re aware of a break-in.

Types of hacking: Ransomware is on the rise!

Here are some of the reasons computer hackers break into devices:

• Financial crimes. We’ve all heard the classic story of somebody checking their credit card statement, only to find transactions they didn’t make. These false transactions are often the result of computer hackers stealing your credit card numbers, checking account info or gaining access to other financial data.
  
  
• Vandalism. Hacking has its own subculture, so some hackers may want to vandalize certain websites just to show off to other hackers. Does it sound ridiculous? Don’t make the mistake of not taking this motivation seriously; it’s fairly common, according to Malwarebytes.
  
  
• Hacktivism. This portmanteau describes a form of hacking somewhat like vandalism. Some hackers may want to alter or destroy certain websites for politically motivated reasons.
  
  
• Ransomeware. Ransomware is a type of malicious software (malware) that threatens to publish or blocks access to data or a computer system, usually by encrypting it, until the victim pays a ransom fee to the attacker. In many cases, the ransom demand comes with a deadline. If the victim doesn’t pay in time, the data is gone forever or the ransom increases.
  
  Ransomware attacks are all too common these days. Major companies in North America and Europe alike have fallen victim to it. Cybercriminals will attack any consumer or any business and victims come from all industries.
  
  

Accounts Payable Automation systems can modernize your invoice processing by reducing risk, providing cost control and increasing efficiencies. Please consider registering for one or our informational webinars or contact us directly for more information.