Web-Based Workshop on AP Automation and Fraud Prevention Brings Record Attendance for IAPP and SAP

Catching accounts payable fraud before it happens is a challenge in any environment, but even more so in today's tough economy, where perpetrators are desperate and companies are being asked to do more with less. Using a one-two punch of optimizing controls and then automating the process can best help AP departments combat fraud.

That was the premise of a Web-based seminar called "Optimization Before Automation: Key to AP Fraud Prevention," presented Oct. 8, 2009, by International Accounts Payable Professionals and SAP AG to introduce a solution that makes it easier to isolate fraud risks: the SAP Invoice Management application by Open Text. The complimentary seminar, which attracted record registration for the IAPP of nearly 300 people, is one in a series aimed at AP managers, senior financial managers, chief information officers, chief operating officers, senior audit managers, and others in the financial arena.

"This topic obviously strikes a chord among our membership and the financial profession as a whole," says Tom Bohn, CEO and executive director of the IAPP and its sister organization, International Accounts Receivable Professionals. "Fraud is a very real challenge today more than ever, and our associations are taking an active stance in educating people about how to stop it."

The corresponding white paper titled Avoid Overlooking the Growing Fraud Threat When Planning AP Automation was written by IAPP member and advisor Peter Goldmann, president of White Collar Crime 101 LLC, in cooperation with Tom Walker, Open Text's portfolio manager for SAP Invoice Management. It has already been downloaded by half the webinar attendees and is still available for $225, or complimentary for IAPP members, at www.The IAPP.org in the IAPP Store.

Walker facilitated the seminar, which included presentations by Goldmann and Gary Moulton, a partner in Forensic and Dispute Services at Deloitte and Touche LLP.

"AP departments are looking for ways to not only enhance their internal controls to prevent fraud, but also to save costs," Walker says. "SAP Invoice Management can help them reduce their vulnerabilities by strengthening their processes and then automating them."

SAP, which provides business software for companies of all sizes worldwide, resells Open Text Vendor Invoice Management (VIM) under the name SAP Invoice Management. Open Text is a gold-level partner of IAPP/IARP.

About IAPP and IARP International Accounts Payable Professionals is internationally recognized as the trustworthy guidance-setting association for the accounts payable profession. Serving members throughout the world, IAPP is the AP professional's global voice, chief advocate, recognized authority, acknowledged leader, and principal educator on all AP operational, regulatory, leadership, tax, control, and fraud-related topics. Together, the IAPP and its sister organization, International Accounts Receivable Professionals, have more than 5,000 members in 70 chapters throughout the United States, Canada, and the United Kingdom, and provide training, conferences, knowledge sharing, certification, online resources, AP Matters and AR Matters magazines, and more. For more information, visit www.TheIAPP.org and www.TheIARP.org.

About Open Text Open Text (NASDAQ: OTEX, TSX: OTC), an enterprise software company and leader in enterprise content management, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 50 million users in 114 countries. Working with its customers and partners, Open Text brings together leading Content Experts(TM) to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visit www.opentext.com. SAP and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries. All other product and service names mentioned are the trademarks of their respective companies.

About White-Collar Crime 101

White-Collar Crime 101 LLC is the publisher of the widely acclaimed monthly newsletter White-Collar Crime Fighter and provides customized fraud awareness and prevention training under its FraudAware trademark. For further information on the company's publications and training services visit www.fraudaware.com. In addition, the company's president, Peter Goldmann, has authored several books on detecting and preventing fraud, including Detecting and Preventing Fraud in Accounts Payable, available at the IAPP bookstore, www.TheIAPP.org/bookstore.

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