Financial
loss
A Financial Integrity use case
Vendor advance payment fraud
When vendors are paid before goods are received—whether due to fraud or innocent oversight—that’s when exposure happens. In this use case, see how advance payment fraud unfolds, and how to shut it down before any damage is done.
How vendor advance payment fraud happens
Even with the best of intentions, employees can be manipulated. Skilled fraudsters use social engineering to create a sense of urgency and legitimacy that pushes payment through. And to make matters worse, sometimes the employee isn’t just unaware—they’re knowingly complicit.
The vendor
Set on defrauding the organization, the vendor sends an invoice for an advance payment, without intending to deliver.
The employee
Sometimes knowingly, sometimes not, the employee bypasses policy and authorizes payment before the goods or services are received.
The outcome
Funds are released with no delivery in sight. By the time the fraud is uncovered, it’s often too late to recover the payment—and even harder to trace accountability.
The high cost of exposure
Advance payment fraud doesn’t just affect a single transaction. It can lead to major financial loss, expose your organization to compliance violations, and escalate into legal consequences, especially with today’s vendor risk management platforms not designed to deliver real-time, preventive control.
Non-compliance
penalties
penalties
Legal
action
action
Eliminate integrity
exposure with Datricks
The Datricks Financial Integrity Platform brings autonomous, real-time control over financial operations, with the three core capabilities required for eliminating advance payment fraud and the amany other integrity exposures that traditional vendor risk management platforms can’t catch.
1
Autonomous Process Discovery Without needing any input, Datricks automatically and continuously analyzes your financial processes in order to understand your business context.
2
Integrity Exposure Detection Problems are identified across all business data and analyzed by our AI in the context of their financial processes in real time.
3
Integrity Intelligence CFOs get a comprehensive control tower to understand the overall health of their organizations. Furthermore, they can see how they stack up against others in the industry.
The Datricks advantage
Get the upper hand on advance payment fraud and prevent attempts from turning into financial damage with automated, AI-powered detection of violations and insights into how the team can tighten controls and prevent fraud from recurring.
Discover
vendor advance payment and other AP related risk
before it’s too late
Prevent
financial loss due to
non-compliance,
human error, or fraud
Control
risk in real-time
with continuous monitoring, analysis, and alerting
Industries we serve
The Datricks Financial Integrity Platform is designed to help organizations across a diverse range of industries to gain autonomous, real-time control over financial operations, eliminate exposures, and ensure Financial Integrity.
Automotive
Chemicals
Energy
Manufacturing
Pharma & healthcare
Retail
Software and SaaS
Utilities
Be part of
the conversation
Brian Wueste
Head of Audit Internal
Datricks helped iRobot by showing process variances between regions in our global business, allowing us to prioritise efficiency opportunities and controls over business variations that were suddenly visible.
Heiko Laessig
EVP Risk, Internal Control and Process Management
We have already witnessed that this solution will help us identify and mitigate risks, improve our processes, and ultimately achieve our business goals efficiently.
Rami Bareket
Director, Head of Global IT Audit
Datricks mapped controls that were never conducted in the past, enabling us to find meaningful issues with substantial impact on the business
