Are You Proactively Monitoring Business Financial Accounts?

Just as individuals should monitor their financial accounts for erroneous transactions and fraudulent activity, businesses must do the same.

Erroneous transactions and fraudulent activity can potentially slip through the cracks when businesses have high volume transactions and/or fail to exercise appropriate due diligence when reconciling their accounts.

Furthermore, waiting until the end of a statement period or month-end to reconcile accounts and flag erroneous transactions and fraudulent activity may put you behind the eight ball.

Don’t simply rely on automated notifications or alerts to warn you about potentially questionable activity.

Proactive monitoring and reconciliation are essential. The sooner you identify potentially erroneous transactions and fraudulent activity the sooner you can take appropriate actions to mitigate and prevent significant impacts.

Be proactive, not reactive!