When tech giants like Facebook and Google lost $122 million to a sophisticated fake invoice scam, the story became an example of how important it is to have robust processes and technologies in place to prevent similar incidents. The Evaldas Rimasauskas scam exposed key weaknesses in invoice management, and below we will analyze in detail how it happened and how OWIS could help prevent such situations.

In the age of accelerated digitization and remote work, effective management of incoming invoices is becoming an increasing challenge for many companies. Digital technologies not only simplify business processes, but also enable remote workers to efficiently perform their tasks from any location.

Introducing changes in working methods often seems like a difficult and unnecessary endeavor, especially if current practice does not seem to be causing problems. Why change something that works? What is often neglected are the actual costs of day-to-day repetitive activities. The processing of incoming invoices is certainly one of such activities in most organizations, entailing a series of costs that are hard to notice at first glance.