Payment Security 101
Learn about payment fraud and how to prevent it
Established in 1977, Georgiou Group is a leading building and civil construction company, delivering a wide range of engineering services professionally and capably. With more than 40 years’ experience, the business operates throughout Western Australia, New South Wales and Queensland. Their vision is to be “the best people to work with,” and they do this by working with their clients and partners to achieve the best possible results.
Snelgrove shares how onboarding suppliers was a very “manual and labour-intensive” task at Georgiou. The team collected supplier information via email, with various forms to fill out and documents to attach. They ran into constant issues with suppliers struggling to open documents – but, crucially, this reliance on email also meant they were more vulnerable to cyber-attacks and email-based scams.
I thought we just can’t keep going like this as a company of this size. We need to be more streamlined and – voilà! – Eftsure came along.
After years of using this manual process – a “waste of energy” – Senlgrove decided they needed to bite the bullet and change things up. Georgiou work with suppliers of all shapes and sizes, so it needed a solution that was accessible and easy to use for ruralbased suppliers, small businesses and enterprises. Plus, it needed a robust verification process and the ability to quickly collect documentation like proof of insurance and currency documents.
Georgiou decided to implement Eftsure to not only handle their supplier onboarding but also to mitigate risk throughout the rest of their procure-to-pay process. With a few near misses in the past, including a BEC attack targeting their CFO, Snelgrove was very happy to outsource the hard work, all while beefing up their security measures (and decreasing his anxiety!).
By having Eftsure take over Georgiou’s procure-to-pay process, the team have been able to focus their time on more beneficial financial tasks.
Since implementing Eftsure, Georgiou have:
Eftsure provides continuous control monitoring to protect your eft payments. Our multi-factor verification approach protects your organisation from financial loss due to cybercrime, fraud and error.