Removing Opportunistic Fraud with Automation

09 Oct 2018

The announcement that one of the travel industry’s leading companies has been subject to substantial employee fraud through the theft of holiday gift vouchers came as a shock to the whole industry. The employee being identified as a senior manager with a long-term and highly regarded career within the industry demonstrates the temptation of opportunism if made available.

Fraud is growing at an astonishing rate. Businesses are having to continually invest to stay ahead of external hackers and now need to consider the new techniques of increasingly tech savvy consumers and employees. Rethinking your business processes and automation needs to remain at the forefront of all companies – not just to mitigate external risk but equally, internal.

The proliferation of software systems within businesses means they now underpin most of a company’s day-to-day activities. However, like most systems, the adoption of a document process automation is justified on driving operational efficiencies and improving customer experience. However, with the onset of the General Data Protection Regulation (GDPR) and the increased risk of fraud, greater controls and auditing are now required.

Consequently, with greater foresight and consideration, implementing a good document process automation system can provide enormous return-on-investment (ROI). If the aforementioned company’s vouchers had been produced on-demand by the back-office or point of sale system with the customer-facing documents produced by a suitable document processing system the entire process could have been automated.

Using the automated voucher process example, in removing manual processing and intervention the opportunistic areas of fraud will be greatly reduced, if not removed. Storing electronic copies of each voucher issued along with logging when they were issued and redeemed should be part of the automated process. Audit capabilities should include the possibility to easily track the whole process from creation to delivery – including the individuals involved, what their actions were and the date and time. Being able to define sophisticated thresholds such as number or value of vouchers issued should trigger automated alerts for proactive monitoring.

Add personalisation to the process, and each voucher can uniquely target the recipient with the product or service they are interested in. And incorporating the relevant branding will create premium documentation which will better represent your company. Whether produced in batches or individually on an ad hoc basis, a personalised voucher delivers a much-improved customer experience while also protecting your bottomline and brand!

d-flo’s TravelComms travel communications platform enables complete customisation – from the documentation and communications you want to produce, the underlining delivery and storage, to the essential process auditing and alerting.

If you are interested in exploring how to improve your voucher processes or other customer documentation processes in the battle against fraud then contact d-flo on +44 (0)20 3582 5210 or via info@dflo.co.uk for a confidential discussion.