COLUMBUS, MISS. (PRWEB) JANUARY 9, 2019
BankTEL welcomed Mississippi Secretary of State Delbert Hosemann for a stop announcing his campaign for Lt. Governor. Boyce Adams, CEO, also had important conversation on the need for innovation and the importance of a high-tech workforce.
BankTEL Systems received the Hall of Fame Award at the 2018 Governor’s Awards for Excellence in Exporting.
COLUMBUS, MISS. (PRWEB) DECEMBER 18, 2018
BankTEL Systems was among the honorees at the 2018 Governor’s Awards for Excellence in Exporting, in recognition of its success in increasing export sales of accounting software for financial institutions.
BankTEL is the developer of ASCEND, a cloud-based software solution used by banks, credit unions, insurance companies, and other financial institutions worldwide. BankTEL serves over a quarter of the domestic market, making it the top FI accounting software provider in the US. Since 2009, it has had a growing overseas presence, and now includes institutions all across the globe.
“I’m proud of serving the American community and regional banks that support small business owners and are the literal economic engines of their towns. I’m also truly excited about how successful we’ve been in growing our presence in financial markets beyond the US,” said Boyce Adams, Jr., President and CEO of BankTEL. “Mississippi supports entrepreneurship and industry, and it has always been a privilege for BankTEL to call Mississippi home. I consider it a big honor for our success to be recognized and celebrated by our state’s leader.”
IS YOUR COMPANY SUSCEPTIBLE TO EXPENSE REIMBURSEMENT FRAUD?
It is very common for companies to reimburse employee expenses on a regular basis, which makes expense reimbursement an
easy target for fraudsters. As we increase the emphasis of safeguarding against hackers and other criminals that pose an external threat, we should stop and consider potential threats from within the organization itself. As a manager, am I placing enough emphasis on protecting my company from internal fraud?
The 2 ways in which these schemes typically occur are:
Claiming reimbursement for fictitious expenses
Inflating actual business expenses
Helpful tips for preventing expense reimbursement fraud in your organization:
• Require that all expenses submitted for reimbursement are accompanied by original documentation, with no exceptions. Regardless of the amount, it’s important that employees keep receipts and maintain good records for expense reimbursement.
• Ensure that your organization has a well written expense reimbursement policy. Stay tuned for more on writing an effective policy from BankTEL!
• Institute a two-step review process for employee expense reimbursements. This means that two managers will have to approve the reimbursement before it is approved for payment.
• Maintain a healthy level of skepticism about your employees. You always want to trust the people you hire, but there’s nothing wrong with digging deeper to verify employee expenses.
• Have a consistent process set up for reimbursements. All employees should know what the process for reimbursement consists of and should expect that it will be the same every time.
• Discipline employees who violate the policies and procedures. Doing so will set an example and help deter other employees from making the same mistakes.