![]() In extreme cases, traditional paper invoice processes are simply replicated on digital platforms – meaning invoice production and then emailing is every bit as manual as the processes that went before.Įnsuring invoices go out quickly, accurately and securely is crucial to maintaining cash flow, so let’s dive into where things go wrong and how to ensure maximum security and best practices across your invoicing and payments processes. ![]() ![]() In some cases, these are sent without dedicated invoicing software, perhaps utilizing ERP systems or other accounting software’s ability to send emails directly. With the shift to electronic invoicing during the pandemic lockdowns (to ensure invoices reached buyers, well before the due date, wherever they were), there has been a rapid rise in email invoices sent out. You may have already heard of invoice redirection fraud – costing businesses almost £82m in the UK last year. This is conducted by fraudsters claiming to be the seller and either intercepting and modifying the original invoice, or through follow-up communication to buyers to update them on a change of bank details – resulting in payment being directed to fraudsters’ bank. As invoicing evolves in sophistication, so do the attempts to defraud businesses via hacking this process.
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