Foolproof Your Business from False Billing Scams
The false billing fraud scam routinely ensnares businesses worldwide. The false billing fraud scam is typically a low-dollar, long-term fraud that is pulled on companies that have a multitude of vendors and limited accounts payable resources handling the processing of invoices, so the invoices of the criminals have the chance to slip between the cracks for an extended period of time. The more deadly version (from a financial point of view) is the false invoice that spoofs a legitimate vendor and results in payment redirection of the funds that were owed to the vendor. This creates a double-dip loss as the vendor still has to be paid – that liability doesn’t go away because your company was scammed. This is just another form of theft that requires a systemic solution (don’t forget about embezzlement prevention).
The Permanent Solution to False Billing Scams
Invoice phishing, payment redirection, domain spoofing and dummy company frauds are not possible outcomes in the iCREDIT system subscription service. They are not possible because iCREDIT just processes invoices and validates payments in a fundamentally different way to help ensure every invoice and payment are independently verified. This verification process requires no less than three (3) independent sources. This makes the fraud scheme virtually impossible to attempt, much less undertake without immediate detection.
End It & Profit From Your Decision
iCREDIT is offered for a limited time on a reduced cost basis. The subscription cost each month is so low that the resulting savings to your administrative costs and personnel requirements provide the opportunity to actually increase your profit margin on operations. Talk to one of our consultants today and see how the benefits can start paying your dividends on Day 1.
The INVIZEN Platform was conceptually designed to support the end-goal of preventing investment losses from being realized on commercial real estate loans and investments.
The INVIZEN Platform design construct offers an end-to-end approach that engages the project or business at whatever life-cycle stage the given project or business may be currently found to be operating within. The INVIZEN Platform is designed to provide a progressive sweep of the entire due diligence spectrum of issues with every review. It starts with the valuation of the transaction opportunity.
Collateral underwriting is important but the reality is that collateral underwriting really only comes into play for EAD calculations and insurance risk mitigation. The value of the opportunity is the real issue and the Verifier Report from INVIZEN directly addresses this issue in terms of determining if the proposed transaction is priced at a discount to market based upon the specific risk profile presented by the project, the project’s business and the project’s market. That’s the Verifier Report.
Market Risk Management
First Look is our real-time market feasibility analysis reporting system for which there is no peer. The next-gen analytics design of First Look provides testing of the empirical assumptions and findings of the market feasibility analysis to determine if a reasonable basis exists for their inclusion and/or use in the resulting report that includes detail you just can’t find anywhere else. That’s the First Look Report.
Financial Risk Assessment Underwriting
Final Check is the crown jewel of the INVIZEN Platform. Final Check provides full capacity risk underwriting, collateral risk underwriting, credit risk underwriting and default risk underwriting financial risk assessment data and findings that is backed by a post-funding monitoring program that prevents the most common causes of credit and default risk events from becoming your loss severity risk realities. That’s Final Check and there is just nothing like it.
The outflow is then matched into our unique credit risk management platform that ties credit risk (again, think hard about managing CECL) and default risk prevention program known as iCREDIT.
This unique system provides real-time forensic auditing of every transaction event and generates an entirely new set of GAAP financial statements for the benefit of all financial partners that can be accessed in real-time.
Financial reporting transparency risk, execution risk, default risk and all of the associated risks are now within the scope of being proactively managed. That’s the INVIZEN approach that makes the difference in everything we do.
We provide opportunities in the form of distressed asset acquisition opportunities for sponsors and developers that meet the specific underwriting standards and requirements of the specific funds and institutions we support.
Our compliance services focus on FINRA (we are a FINRA Compliance Vendor) and supporting broker-dealers, banks (FASB Topic 326 compliance opportunities regarding CECL), credit unions, community banks, advisors, family offices and institutions that are seeking something more than reactive data and mitigation as being the only likely outcome.
INVIZEN is about reaching your peak opportunity efficiency level and having the freedom to focus on transactions that are profitable; transactions that have the likelihood of actually closing.
Clear up your backlog of time-sensitive opportunities.
Reduce your loss reserve calculations.
Turn CECL into a competitive advantage.
Exceed expectations of regulators when it comes to compliance with FINRA, SEC, OCC or the several states.
When you engage with Rainmaker Analytics you are engaging with a team and a system that is designed to make the financial instruments your firm engages in become a matter that is manageable, less frustrating and more profitable.
Your new path forward starts with that first phone call and confidential consultation.