TOP 10 REASONS TO AUTHENTICATE YOUR SUPPLIERS

1. VERIFICATION | Ensure you are doing business with a valid business entity and not a shell company.

2. REGULATORY | Minimize regulatory risk with monthly federal watch list scrubs.

3. FINANCIAL STABILITY | Understand the financial standing of a vendor before entering into a contract.

4. COMPLIANCE | Capture electronic W-9 documents to eliminate 1099 processing errors.

5. COST SAVINGS | Reduce payment processing costs as much as 90% with Vendor ePay solutions.

6. CUSTOMIZATION | Customize your vendor communication with eNotice, eBroadcast, and user defined alerts.

7. CONVENIENCE | Store and retain relevant vendor documents in one convenient location.

8. EFFICIENCY | Reduce vendor payment inquiries by utilizing eNotice to proactively tell vendors when invoices are being paid.

9. REPORTING | Access critical performance metrics through online dashboards.

10. EXPERTISE | Protect your organization by leveraging our team of Certified Fraud Examiners and Auditors.

For more information on our Vendor Lynx™ supplier authentication tool, or a FREE RISK ASSESSMENT, call us at (888) 315-2692 or send an email to sales@globaledge.us.

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CALABASAS, Calif., Oct. 17, 2012 — Global Edge, the industry leader in web-based supply chain risk management solutions, today announced its partnership with Novation, the leading health care supply chain expertise and contracting company for the members of VHA Inc., UHC, Children’s Hospital Association, and Provista LLC. This partnership allows Global Edge to offer the member organizations served by Novation a convenient solution to their risk management and fraud prevention needs.

Global Edge specializes in recovering lost revenue, improving financial controls, and isolating risk. Its mission is to protect the bottom line, ensure government and regulatory compliance, and deter fraud on behalf of its clients. Global Edge provides an umbrella of protection, empowering health care organizations to focus on what they do best: improving lives.

The partnership with Global Edge provides the member organizations served by Novation with enhanced controls and greater visibility into vendor relationships. The Global Edge Vendor Lynx™ platform improves transparency between a health care organization and its vendors. This risk management tool scrubs vendors against 250-plus data points, surfacing high risk conditions and delivering a comprehensive risk assessment.

In addition to Vendor Lynx, Global Edge’s partnership with Novation will give member organizations access to the following solutions through an easy to deploy, low cost, Software as a Service (SaaS) platform:

• Intercept™: Delivers dynamic recovery tools to identify, validate, and recover every lost penny it finds.
• Vendor Master File (VMF) Management: Identifies duplicate vendors and those that need to be re-classified as inactive or archived within the VMF to prevent Accounts Payable errors.
• eBusiness: Produces cost savings with electronic payments through ePay, streamlines vendor communication with eBroadcast and eNotice, and alleviates the burden of filing taxes with 1099 eFiling.
• Collection Services: Offers continuous operational analysis and customized solutions for competitive third-party recoveries.
• Encompas™ Card Management Solutions: Ensures that users of corporate purchase cards are compliant to corporate policies based on administrator guidelines. Encompas integrates transactional card data into a single platform, providing audit visibility to every transaction, on every cardholder, every month.

“Our goal at Global Edge is to assist health care providers in their mission to improve lives and deliver the best care possible to their patients. We do this by providing a suite of products that protect the integrity of the supply chain process and working proactively with hospitals to maximize every health care dollar,” said Jay Cherry, President and Co-Founder of Global Edge, LLC. “Now, by becoming a valued Novation supplier, we are well positioned to partner with Novation’s alliance member hospitals to mitigate risk, reduce costs, and protect the bottom line.”
 
 
About Global Edge, Winner of IAPP Innovation Award and AHA “Gold” in Risk Management
Global Edge is a provider of integrated risk management solutions from procurement to collections, with a focus on Revenue Recovery and Risk Mitigation services. The Global Edge Risk Management Platform is innovative, cutting edge, and specially developed to provide comprehensive supply chain controls for the health care industry. The Company’s technical operations are based in St. Cloud, Minnesota, with corporate headquarters in Calabasas, California. The Company’s Encompas™ technology was named as the IAPP (International Accounts Payable Professionals) 2011 Huntington Bank Innovation Award winner for most advanced technology, as well as the 2011 “Treasury & Risk” Alexander Hamilton Award (AHA) Winner of the “Gold” in Enterprise Risk Management. To learn more about Global Edge, please visit GlobalEdge.us, stop by the Company’s Facebook page at Facebook.com/GlobalEDGEUS, and follow @GlobalEdgeUS on Twitter.

About Novation, Winner of the Ethics Inside® Certification
Founded in 1998, Novation is the leading health care supply chain expertise and contracting company for the more than 65,000 members of VHA Inc. and UHC, two national health care alliances, Children’s Hospital Association, an alliance of the nation’s leading pediatric facilities, and Provista, LLC. Novation provides alliance members with sourcing services, as well as information and data services. Based in Irving, Texas, Novation develops and manages competitive contracts with more than 600 suppliers. VHA, UHC, and Provista members used Novation contracts to purchase more than $40 billion in 2011. Novation recently earned the coveted Ethics Inside Certification from Ethisphere Institute, a leading international think tank dedicated to the research and promotion of best practices in corporate ethics and compliance. Novation was also named on Ethisphere’s World’s Most Ethical Companies list, and is the only company in the health care industry to earn both distinctions. To learn more about Novation, please visit the newly designed novationco.com and follow @NovationNews.

Media Contacts
Renee Houser
Marketing, Global Edge, LLC
(320) 286-8542
ReneeHouser@GlobalEdge.us

Todd Harrington
Chief Operating Officer, Global Edge, LLC
(818) 207-2694
Todd@GlobalEdge.us

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Global EDGE, LLC, the leading provider of web-based risk management solutions, today announced the launch of its new website. The site (http://www.GlobalEDGE.us) features improved access to information on Global EDGE™ services for current and potential customers, and is a critical piece of the organization’s rebranding efforts.

“In an effort to better serve our customers, we’re thrilled to unveil our new logo and website today, “says Jay Cherry, President of the company. “Our customers want to be able to visit our website and quickly find the information they are looking for. They also want an information channel that provides a better understanding of the Global EDGE tools and associated business benefits. The new website is designed with ease-of-use in mind, both for our customers in finding information and for our employees in updating and adding new content, as we continue to build and market new services.”

The new site comes on the heels of the Global EDGE V3 launch, offering a simplified vendor registration process (from 11 steps down to 4) and an improved workflow to get vendor organizations into the Global EDGE system quickly and efficiently.

GlobalEDGE.US now boasts a colorful, attractive design with the majority of its content divided into three main sections: Services, Clients, and Vendors. The Services section allows visitors to quickly find and learn about the following services offered by Global EDGE:

- Recovery Audit
- Vendor Authentication
- Vendor Master File Management
- Fraud Prevention
- eBusiness Solutions
- Card Management Solutions

The Clients section addresses the current risk environment for organizations and speaks to the Global EDGE model of focusing on 1) Knowing Your Suppliers, 2) Isolating Risk, and 3) Managing Financial Controls.

The Vendors section helps vendors through the registration process by answering the common questions of “Why am I being asked to register?” and “How do I register?”. The website also features direct access to the Global EDGE Solutions Gateway for clients and vendors who have misplaced or forgotten the web address for logging in.

The website highlights Global EDGE News, Events, and Careers. And, with the launch of the website comes the launch of the official Global EDGE Blog (http://www.GlobalEDGE.us/blog/). This blog will serve as a place for Global EDGE to communicate best practices of risk management, offer commentary on current industry news, start conversations and gather feedback, and share experiences with site visitors.

About Global EDGE, LLC

Founded in 2008 on the basis of providing the most robust Recovery Audits for our customers, Global EDGE is now the industry leader in web-based risk management solutions. The Company’s technical operations are based in St. Cloud, Minnesota, with corporate headquarters in Calabasas, California. The Global EDGE Risk Management Platform is designed as a comprehensive solution, delivering on Cost Containment, Risk Mitigation, and Revenue Recovery for clients. The Company’s technology was named as the IAPP (International Accounts Payable Professionals) 2011 Huntington Bank Innovation Award for most advanced technology.

Contact:
Renee Houser
Marketing & Sales Representative
Global EDGE, LLC
Phone: 320.286.8542
Email: reneehouser@globaledge.us

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As a federal grand jury convenes to indict a former Dixon, IL, city comptroller on one count of wire fraud for allegedly siphoning more than $53 million, it is a good reminder that fraud is pervasive and ever-present. As a city of less than 16,000 residents, Dixon city officials didn’t concern themselves with fraud, believing that fraudulent acts were targeted at larger corporations, not small public sector organizations.

Still, according to the indictment, on Dec. 18, 1990, ex-comptroller Rita Crundwell opened a bank account in the name of the city of Dixon and RSCDA. Between December 1990 and April 2012, Crundwell used her position as comptroller to allegedly repeatedly transfer city funds into the RSCDA account and used the money to pay for her own personal and private business expenses, totaling an estimated $53 million. As a part of the fraud scheme, Crundwell allegedly created fictitious invoices from the State of Illinois to legitimize to the city’s auditors the funds that she was fraudulently depositing into the RSCDA.[i]

This is not the only story that reads like this. In fact, 1 in 3 businesses or organizations will be targeted for fraud and to make matters worse, most fraud is present for 18 months or longer before it’s identified. According to the Association of Certified Fraud Examiners, small organizations are disproportionately victimized by occupational fraud and the list of industries most commonly victimized includes the government/public administration sector.[ii]

Given the high costs of occupational fraud, effective fraud prevention measures are critical. Enter Global EDGE, a single source provider of Risk Mitigation and Revenue Recovery services. Global EDGE technology is innovative and cutting edge: the proprietary technology links seemingly unrelated data to identify risk; stop fraud, waste and abuse; and, recover lost dollars that were misappropriated through the accounts payable process. Below are the top ten tools within the Global EDGE platform that ensure our clients are protected from fraud:

1. Vendor Authentication: Global EDGE scrubs vendors against 250+ data points, assigning a fraud score to each vendor, and providing the client organization with a customized risk assessment.
2. Documentation Management: The Global EDGE Risk Management Platform requires vendors to upload documents such as W9’s, General Business Liability Insurance, and Minority-Owned Certifications to validate all claims and prove governmental compliance.
3. Invoice Integrity Analysis: Global EDGE analyzes an organization’s Vendor Master File and A/P history looking for exceptions to Benford’s Law, duplicate payments, rounded-amount invoices, invoice approval patterns, consecutive invoice number, A/P clerk patterns, and other high-risk conditions.
4. Integrated Employee Verification: The Global EDGE solution also offers employee verification and screening through its fraud prevention tool. One of the cross checks performed against an organization’s Vendor Master File is the Employee-to-Vendor linkage, to safeguard against employee relationships that might pose a fiduciary risk to an organization.
5. Monthly Scrub Against Government Watch Lists: The Global EDGE platform automatically runs all registered vendors against the Office of Inspector General (OIG) Exclusions list, the Office of Foreign Assets Control (OFAC) Specially Designated Nationals list, and other government watch lists on a monthly basis to ensure continuous compliance.  
6. Certified Fraud Examiners: The Global EDGE platform is supported by a team of Certified Fraud Examiners who will apply the system-provided fraud score and associated risk codes to delve deeper into these assessments and conduct additional research on behalf of an organization.
7. Real-Time Risk Management: Global EDGE offers organizations a real-time audit tool, capable of identifying and reporting questionable transactions within the Accounts Payable system to the organization in real-time.
8. Combined Risk Analysis:  Global EDGE combines data and analysis from a recovery audit, vendor authentication and vendor employee verification to give organizations a thorough depiction of risk.
9. Experienced Vendor Support Team: The Global EDGE vendor support team is trained in understanding the platform’s risk codes and pursuing the issue to obtain necessary verification from vendors.
10. Annual Review: The Global EDGE fraud prevention tool requires annual vendor authentication. The solution will identify any changes in the company’s compliance status or other risk factors relative to financial standing or fraud exposure.

For more information on how your organization can implement the Global EDGE Risk Management Platform to identify risk and stop fraud, please call 888.315.2692 or email sales@globaledge.us .

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Contact Global EDGE for more information on our continued growth and expansion.

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• Global EDGE Solutions Gateway: The Global EDGE Solutions Gateway provides for a true partnership between the client and the vendor. It is designed to facilitate the exchange of data and enhance the relationship. Documents, business tax ID, contracts, company details, and much more can be securely stored in the platform. In addition, key processes, like statement audits, payment tracking, reporting, and eBusiness services are managed through the application.
• eBusiness Services: Global EDGE allows the client and vendor to directly exchange information through the Solutions Gateway. Clients can send broadcast messages to all suppliers through a single portal. Messages can be customized to specific audiences. Electronic payment notifications can be sent from a batch routine. eAlerts can prompt both the client and the vendor when issues arise that require attention. The eBusiness Platform truly enriches the Client/Vendor experience.

“The Global EDGE platform is unique to any technology on the market.  We take great pride in delivering a risk solution that benefits both our clients and their suppliers.  By improving the interaction between both parties, and truly remaining ‘contract neutral’ in the relationship, Global EDGE is able to enrich the experience and ensure that every transaction conforms the intent of their agreement.“  said Jay Cherry, President and Co-Founder, Global EDGE, LLC.

Contact Global EDGE for more information about Global EDGE’s suite of Risk Management Solutions.

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Contact Global EDGE for more information on our patented technology.

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Contact Global EDGE for more information on the proprietary Global EDGE technology.

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Contact Global EDGE for more information on the new status of Global EDGE as its own company.

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