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How Trek Bicycles enhanced its global operations while mitigating payment fraud

June 7, 2019

At this year’s Kyriba Live event in Las Vegas, Jennifer Tomaloff, International Treasury Manager at Trek Bicycle Corporation, shared her thoughts on how the rapidly growing global organization mitigated payment fraud by implementing a TMS. We report on the session.

When implementing the new TMS and associated protocols, Jennifer says that a number of fraud and security vulnerabilities were identified. These included the use of multiple (27) bank portals, the fact that some controls could be bypassed, inconsistencies within global processes, the fact that payment files are not always secure and the presence of local bank user setup weaknesses.

As a result, Trek developed a clear four-step plan that would resolve the issues.