Transform your fraud prevention strategy with NetSuite
Fraud is a business nightmare, that many organizations face without preventative measures in place. Enterprise resource planning (ERP) accounting systems are one of the best solutions to detect, diagnose, and investigate fraud. Rand Group is your NetSuite Solution Provider to deliver a fraud prevention strategy built on NetSuite ERP so you can mitigate risk and operate more effectively.
Safeguard your financials processes and effectively prevent fraud
The best way to prevent fraud is to have a system in place to institute strong internal controls, segregation of duties, and periodic audits of financial statements. An ERP solution built on NetSuite and delivered by Rand Group will automate these key processes to your enhance fraud prevention strategy and ensure financial integrity. Proactively manage risk on an ongoing basis, increase efficiency, and improve your ability to track data changes for complete organizational visibility.
As an Oracle NetSuite Solution Provider, our software engineers and industry experts will help you evaluate NetSuite ERP and implement the solution with customizations to your unique business so you can meet risk and fraud prevention objectives. Our team will then train your users on the system and provide support for ongoing organizational success.
Implement intelligent accounting controls
Enforce segregation of duties and strict approval mechanisms like requiring CFO approval on high-stakes transactions to prevent unauthorized activities. Set up automatic alerts when names, addresses, or banking details change on client accounts, or in instances of irregularities in file integrity.
Clear audit trails throughout your processes
With NetSuite, you get an always-on audit trail, built-in analytics, access logs, and workflow management. The ability to drill down from summary reports to underlying transaction details provides transparency and allows auditors to easily investigate activity with the potential to impact security, controls, or financial statements.
Security monitoring and data protection
NetSuite uses overlapping measures to tightly control access to its networks and applications. Unauthorized data center access attempts are blocked and unauthorized connection attempts are logged and investigated. Enterprise-grade antivirus software blocks malware.
Extend your fraud prevention capabilities with NetSuite delivered by Rand Group
NetSuite ERP is an all-in-one cloud business management solution that helps organizations operate more effectively by automating key processes and providing real-time visibility into operational and financial performance. It includes native fraud prevention, automation, and security features that reduce error-prone manual processes. Rand Group is your partner to implement NetSuite with additional fraud prevention features tailored to your organization’s strategy.
- Automatic security and vulnerability scans of your NetSuite system
- User access management with set permissions
- SuiteFlow capabilities for approving changes, such as additions to the vendor master to help ensure vendors and their bank accounts are valid
- Automating accounts payable processes
- Third-party audit reports
Rand Group is your implementation, customization, and support partner
Rand Group offers numerous solutions designed to meet your specific needs and support your fraud prevention goals. Our industry experience combined with years of working with various business technologies positions us to deliver solutions that not only solve immediate business challenges but also provide stability and scalability.
Compliance
Simplify compliance, reduce risk, and become audit-ready with a compliance solution from Rand Group. Seamlessly establish controls to meet risk objectives, then monitor and report on the effectiveness of those controls to meet compliance objectives.
NetSuite ERP
NetSuite’s Enterprise Resource Planning (ERP) software includes everything your business needs to manage day-to-day operations including financial management, reporting, inventory, supply chain, and warehouse management.
Related Insights
Using data analytics for fraud prevention
With the continuous advancements of technology, it has become critical that organizations utilize technology to maintain a competitive edge for managing risks and understand the usage of analytics tools to support fraud detection and prevention efforts.
How much does 1 hour of downtime cost the average business?
Infrastructure matters. When your network or applications unexpectedly fail or crash, it can have a direct and far reaching impact on your bottom line and ongoing business operations. In some extreme cases, data and monetary losses from unplanned outages can even cause a company to go out of business.
Are your software applications in need of a health check?
Rand Group can perform a full evaluation of your current system and processes and will provide insight into how you measure up. This consultative service is beneficial when determining if you are getting the most out of your software.
Let’s talk about how we can transform your business
