SOURCE: SYSPRO Canada

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September 15, 2016 09:00 ET

SYSPRO Canada Hosts Complimentary Webinar: Protect Your Bottom Line: Fraud Detection and Prevention in Manufacturing

VANCOUVER, BC--(Marketwired - September 15, 2016) -

SYSPRO, a provider of award-winning, best-of-breed Enterprise Resource Planning (ERP) software solution for on-premise and cloud-based utilization, today announced that it will be conducting a complimentary, live webinar for Canadian manufacturing leaders, "Protect Your Bottom Line: Fraud Detection and Prevention in Manufacturing" on Thursday, September 22, 2016 at 10:00 A.M. PT / 1:00 P.M. ET.

The exclusive webinar will feature leading industry experts Shane Troyer, Partner-Advisory Services for Grant Thornton, and David Doyle, Vice President of Sales for SYSPRO Canada, who will share their deep industry insights into ways to assess how, when and where manufacturing organizations are at risk for fraud-and what business leaders can do to mitigate the risk. This session will be hosted by CanadianManufacturing.com, a national media brand and top source of daily manufacturing industry-focused news in Canada.

Fraud is a serious problem affecting the manufacturing industry. The manufacturing sector is one of the industry sectors most vulnerable to asset misappropriation and fraud. When it comes to instances of fraud, not only are manufacturers at risk for revenue loss-their reputation can also be jeopardized.

Manufacturing environments present unique opportunities for employees, contractors, vendors, and cyber hackers alike, to take advantage of unsuspecting companies. Moreover, there is often a lack of management understanding of the risks associated with fraud, and the necessary internal systems and controls (including people, process, and technology) that are required to stop fraudsters in their tracks. Gaps in automated systems, processes, and lack of procedures put manufacturers at a higher risk to individuals who are willing to commit fraudulent activities, waste valuable resources, and abuse their authority.

The cost of reputational damage and lost revenue (often in the hundreds of thousands of dollars) can result in detrimental consequences to any manufacturing business. Recognizing where manufacturing businesses may be at risk for possible fraudulent activity is a crucial part of the risk management process. In the end, the risk of doing nothing can cost you more.

How do you know if you are at risk from employees or vendors trying to exploit your business?

Register today for this informative session, designed specifically for Canadian manufacturing leaders, and learn how to be proactive in detecting and preventing fraudulent activities, including:

  • A framework to identify which business areas are most at risk
  • Common "red flags" or indicators that reveal fraud
  • Recommended internal controls (including people, process and technology) to protect against fraud

"Instances of fraud have always existed in manufacturing environments. The 10-80-10 rule of fraud states 10 percent of people are honest and will not steal under any circumstances, even if guaranteed to not get caught; 10 percent of people will steal no matter what or will actively look for opportunities to steal; and the remaining 80 percent of people will steal if the opportunity arises and they can rationalize the act, especially if the opportunity is as a result of an organic error they made because of a lack of controls in their business environments," according to David Doyle, VP of Sales for SYSPRO Canada. "Recognizing where your business may be vulnerable for fraud and understanding the control mechanisms you can easily put into place to prevent employees, partners or vendors from exploiting your business, can go a long way in helping to protect your bottom line."

The webinar is free to attend but participants must register in advance. To register for this complimentary webinar on Thursday, September 22, 2016 at 10:00 A.M. PT / 1:00 P.M. ET, please visit: https://attendee.gotowebinar.com/register/6132004209850067969?utm_source=PressRelease_091516&utm_medium=referral&utm_campaign=CMO_Webinar_Prevent_Fraud_in_Manufacturing_092616

Even if you can't make the live date, reserve your place today and SYSPRO Canada will send you a link to the on-demand webinar recording when it's available.

About SYSPRO

SYSPRO is one of the longest standing and largest independent, international providers of ERP systems for mid-market manufacturers and distributors worldwide. SYSPRO has for more than 35 years delivered on its promise to provide thousands of its customers globally with the tools required to effectively operate and compete. Backed by a truly dedicated and professional team of employees and partners around the world, the company's ability to innovate and develop technologies based on the needs of customers is one of the reasons why SYSPRO enjoys one of the highest retention rates in the industry.

For more information on SYSPRO Canada visit: www.syspro.com/ca or contact SYSPRO Canada's Head Office at Toll Free: +1 (888) 259-6666.

Discover helpful content to help you grow your business for Canadian manufacturers by visiting the SYSPRO Canada Resource Hub: http://resources.syspro.com/h/ and the SYSPRO Canada Blog: http://canadablog.syspro.com.

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All company names and products mentioned in this release are trademarks or registered trademarks of their respective holders.

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