4 Ways to Reduce Expense Fraud and Build Compliance
This SAP Concur blog discusses how businesses can reduce expense fraud and build compliance by updating spending policies, using automated T&E technology, monitoring spend data, and benchmarking against industry standards. It notes that 62% of organizations have suffered financial losses from fraud in the last three years, and emphasizes the importance of a cohesive approach involving policy, technology, reporting, and benchmarking.
Impact and considerations
Provides actionable strategies for businesses to reduce expense fraud, control costs, and enhance compliance, protecting financial health.
Key points
- 62% of organizations have suffered financial losses from fraud in the last three years.
- Update spending policies to reflect current business needs and communicate them via automated tools.
- Use automated T&E technology, such as AI-driven auditing, to deter fraud.
- Monitor spend data with reporting tools to spot patterns like duplicate expenses.
- Benchmark against industry standards on metrics like cash transaction percentage and receipt attachment rates.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 12 Apr 2024, 18:40
- Page published
- 14 Aug 2026, 08:15
- Last updated
- 12 Apr 2024, 18:40
- Original links
- SAP Concur Blog：Reduce Fraud with Technology, Policy, and Other Tools You Have (opens in a new tab)Primary source · en · Published 12 Apr 2024, 18:40