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Enterprise Fraud Management (EFM)
Enterprise fraud management consists of tools designed to detect unauthorized use. It does this by deploying various algorithms and security measures that can ensure only authorized users access the software and its critical components. It also requires that staff understand when a transaction may be fraudulent. EFM checks users, database access, and more. It can be used to determine unauthorized access by individuals or attempts to hack a computer network. Cybersecurity is one of the most significant long-term issues facing the business community, making EFM highly relevant.
What Small and Midsize Businesses Need to Know About Enterprise Fraud Management (EFM)
Small businesses unquestionably need broad security protection on their computer networks. There are many applications of EFM for small businesses, including automated software and the appropriate training of staff.
Related terms
- Tokenization
- ROIT (Return on Information Technology)
- SAC (Subscriber Acquisition Cost)
- Energy Trading and Risk Management (ETRM)
- Chief Revenue Officer (CRO)
- Core Banking System
- Record to Report (R2R)
- Fintech
- Financial Management System (FMS)
- Business Capability Modeling
- Capital Allocation
- Compound Annual Growth Rate (CAGR)
- Net Present Value
- Hedge Fund
- Gateway
- Selling General and Administrative (SG&A) Expenses
- ROE (Return on Equity)
- Financial Planning and Analysis (FP&A)
- Dollar-Cost Averaging (DCA)
- Procure-to-pay Solution
