Advanced Business Solutions: Advanced Business Solutions encourages public sector organisations to combat emerging risk of creditor scams

Advanced Business Solutions, formerly COA Solutions, is advising public sector organisations to be vigilant against an emerging threat of fraud from people impersonating official suppliers. Local Government has been particularly susceptible to cases of creditor fraud, with one local authority falling victim to a £102,000 scam in 2010. 

With new regulations requiring local authorities to report all spending over £500 by the end of this month [January 2011], concerns have been raised that some unscrupulous individuals may use this information as a further means to commit fraud. Creditor fraud entails the fraudster adopting the identity of the supplier and writing to the local authority with notification of a change in bank details, in the hope that the local authority will change the information in their finance system and make payments to the fraudster’s bank account. 

“In today’s new era of transparency, public sector organisations must continue to take steps to ensure that they implement the necessary technology to safeguard against abuse of financial information. The good news is that creditor scams can be tackled with the right fraud detection and prevention tools in place,” says Dean Dickinson, Managing Director of Advanced Business Solutions.

Companies looking to understand the direction of cash must understand who is being paid and when. Business intelligence tools, such as spend analytics software, help organisations to identify any unusual spending patterns. Accidental errors – such as billing mistakes and invoice miscalculations – can be easily traced, and managers can track and spot potential weak spots that could provide a loophole for fraudsters.

Document management technology is also key for fraud prevention as it ensures that documents cannot get altered, shredded or mysteriously ‘lost’. Invoices, purchase orders and other financial documents can be imaged, securely stored in an electronic archive. All interactions relating to the imaged documents are recorded, creating a comprehensive audit trail.

Dickinson adds, “The last year has seen a spate of attacks on the public sector that could have cost the taxpayer hundreds of thousands of pounds. To counter the threat of creditor fraud, it is more important than ever for organisations to have the right software tools in place to safeguard against this.”

For further information about Advanced Business Solutions visit www.advancedcomputersoftware.com/abs

-ENDS-

Notes to Editor: 

About Advanced Business Solutions www.advancedcomputersoftware.com/abs

Advanced Business Solutions (ABS), formerly COA Solutions, provides leading integrated business applications and services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies whilst continually improving corporate performance. ABS prides itself on getting close to its customers by understanding their businesses and responding to their evolving needs.

ABS's software systems comprise core accounting/financial management, procurement, human resource and payroll systems, integrated with a range of collaborative, document management and business intelligence solutions to extend the value and effectiveness of the finance, human resource and payroll departments, which can also be delivered as a managed or bureau service option. 

Customers come from both public and private sectors and include Companies House, Newcastle City Council, WH Smith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS, RSPB and Great Ormond Street Hospital for Children NHS Trust. 

Advanced Business Solutions is a division of Advanced Computer Software Group plc, a leading supplier of software and IT services to the health, care and commercial sectors. 
About Advanced Computer Software plc www.advancedcomputersoftware.com

Advanced Computer Software plc (Advanced) is the leading supplier of software and IT services to the health, care and commercial sectors with a primary focus on delivering high quality products and services to enable first class delivery of care in the community. Advanced's portfolio for the health and care sector includes IT management and analytics systems for out-of hospital applications covering urgent and unplanned care, district nursing, hospices, residential care homes, telehealth, end-of-life and long-term-condition management; as well as mobile information systems for community carers. 

Advanced additionally delivers back-office systems for NHS trusts, local authorities and care providers and is further strengthening its position in the health checks and pharmacy services markets. Working with partners in the NHS, local government and the private sector, Advanced delivers IT in support of safe and efficient care delivery and greater information for both the commissioner and care provider. The company's unique proposition is the breadth of integrated health and care solutions from patient-facing IT systems through to back-end operational systems and services. 

Advanced is also a leading supplier of software and IT services to the commercial sector. This part of the business underpins growth whilst providing opportunities for cross-marketing of products and IT services.

Contacts:
Ben Carey and Tim Palmer
pr@advancedcomputersoftware.com
+44(0)1625 856505