With Trustpair, validate supplier bank accounts in 190 countries and boost team efficiency through automated verifications. Keep production on track, at all times.
Manufacturing organizations face growing fraud threats. With thousands of suppliers and complex global logistics, verifying every vendor manually is impossible.
Manual vendor checks drain time and resources. Automating fraud controls speeds up procurement processes and strengthens fraud protection.
Siloed and paper-based processes leave gaps for vendor fraud. Go digital with real-time controls over supplier bank accounts.
High purchase order volume, supplier churn, and raw materials dependency make the manufacturing industry a prime target for fraudsters.
From billing fraud to impersonation, they exploit weak internal controls. The result:
In fast-moving manufacturing organizations, traditional controls can’t keep up.
Mitigating vendor fraud requires more than reactive controls. You need a robust risk management framework built for industrial complexity. Thanks to Trustpair, support your operations with:
Manual supplier bank account validations performed by financial teams in manufacturing businesses are vulnerable to fraud risks. With Trustpair:
Trust keeps manufacturing moving and vendor data underpins that trust. One mistake in supplier banking details can delay shipments or stall production.
Real-time monitoring and fraud prevention bring visibility to your supply chain. When your data is clean and verified, teams move faster and with confidence.
Protecting payments is about more than security. It’s about ensuring business continuity.
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A manufacturing risk refers to any potential threat to operations, production flow, or financial outcomes in the manufacturing industry. These risks include internal threats like equipment failure or supply disruption, and external threats such as fraud, cyberattacks, or non compliance with industry standards.
To minimize risk impact, manufacturing companies need an integrated approach to risk management that aligns operations, finance, and procurement. This includes using quality management systems, conducting hazard analysis, and enforcing tight internal controls across all supplier interactions.
A successful manufacturing risk management strategy requires both preventive and detective controls, built on a robust risk management framework. Platforms like Trustpair play a critical role by automating vendor checks, enabling risk identification, and offering real-time fraud alerts – supporting compliance and operational continuity.
The manufacturing industry is especially vulnerable to fraud schemes due to high transaction volume, international vendors, and decentralized systems. Here are five prevalent types of fraud affecting the sector:
These risks emphasize the need for automated controls, structured fraud risk assessment, and the support of tools like Trustpair. Using a risk assessment matrix can help teams with measuring risks, prioritizing issues, and strengthening their risk profile. Additionally, consulting with certified fraud examiners can enhance investigations when fraud is detected.
In the manufacturing industry, managing risk is essential due to complex supply chains, frequent financial transactions, and high exposure to fraud. A clear, structured approach helps protect operations, prevent losses, and maintain compliance.
1. Risk Identification
This involves identifying risks like billing schemes, fake vendors, and inventory manipulation. Issues often stem from weak internal controls or manual processes. Spotting key risk indicators early – especially in vendor data and purchase orders is critical.
2. Risk Assessment
Using a risk assessment framework or risk assessment matrix, teams evaluate each threat’s likelihood and severity. Common concerns include duplicate amounts, vendor impersonation, and raw material delays. This step is crucial for understanding your risk profile and conducting a meaningful fraud risk assessment.
3. Risk Mitigation
Next, companies apply control measures to reduce exposure. This includes automating vendor checks, validating bank details, and setting critical control points in procurement. These steps form the core of a robust risk management framework.
4. Risk Monitoring
With a real time monitoring system, manufacturing teams can detect new risks, track anomalies, and maintain visibility. Continuous oversight supports stronger risk governance and helps prevent fraud before it escalates.
5. Risk Reporting and Review
The final step ensures regular risk reporting, informed management review, and improved decision-making. It also helps with developing policies, training so employees understand fraud threats, and reducing risk impact across the organization.
Several operational gaps can make fraud more frequent and harder to detect in the manufacturing industry. The five most critical factors are:
1. Manual vendor validation
Relying on emails or callbacks makes it easy for fraud to go undetected. Without automation, even experienced teams can miss fake account details.
2. Data silos and lack of collaboration
When vendor records are scattered, cross departmental collaboration breaks down. Teams fail to align on red flags or escalation paths.
3. No structured risk assessment framework
The absence of a clear framework leads to inconsistent evaluations and makes it harder to identify areas of vulnerability.
4. Limited use of digital tools
Failing to adopt digital tools delays response times and increases reliance on flawed manual checks. Fraud detection should be proactive, not reactive.
5. Lack of training and fraud awareness
When employees understand fraud tactics, they can help flag new risks before damage occurs. This requires clear communication and developing policies tied to fraud prevention.
Trustpair strengthens fraud prevention by combining smart algorithms with process automation. The platform empowers companies to apply control measures, integrate alerts into digital channels, and support ongoing effects analysis that leads to stronger, smarter risk management.
"Trustpair gives us more reliability and peace of mind. The financial director is more serene when it comes to approving the transfer order."
"With Trustpair’s verification methodology, it's no longer just a consistency check but an exact confirmation of the validity of the third party: there is no longer any risk."
"With Trustpair, we are able to automatically and quickly monitor our third parties and ensure the security of that very data over the long term."
“I would definitely recommend Trustpair to finance departments. It makes adding and modifying beneficiaries more reliable, without resorting to manual processes that are cumbersome, time-consuming and fallible.”
“The control process is simplified with the Trustpair solution, the Finance Department is reassured and, above all, it no longer needs to waste time performing manual checks to verify a supplier's bank details.”
"Trustpair adapts very well to the specifics of our market and our way of working. Several features are developed as we work together. That's a real plus."
"Trustpair has become more than a reflex; it has become an obligation. The team no longer validates an IBAN unless Trustpair has confirmed it to us."
Thanks to Trustpair, we’ve made a significant shift in our security processes and filled the gaps we needed to fill. Trustpair has proved to be a committed and trustful partner and we’ve appreciated the support and transparency.
We’ve gone from manual and time-consuming fraud controls to automated bank account validation done directly in SAP. The workload has been drastically reduced and payment security is now guaranteed.
