Four Steps to Increase Expense Policy Compliance

The article notes that policy violations for excessive personal expenses rose 21.8% from 2020 to 2021. It recommends four steps to improve expense policy compliance: review and refine expense categories (the 'Other' and 'Miscellaneous' categories ballooned to over 60% of spending from 2019 to 2021); write a more effective reimbursement policy; automate expense reports and reimbursements (SAP Concur customers reported 43% less time to submit, 65% more compliant claims, 50% less time to reimburse); and analyze expense data to inform business growth.