SAP Concur: The Development of Verify, a Thoughtful Automation Tool
SAP Concur published an article on the development of Verify, its AI-powered expense audit tool. It cites ACFE data that organizations lose an estimated 5% of revenue to fraud annually, and a 2022 survey showing 89% of business travelers submitted at least one expense they weren't sure complied with company travel policy. SAP Concur introduced Policy Audit and Receipt Audit over a decade ago, which evolved into Intelligent Audit and then Verify. Verify can audit 100% of expense reports based on configurable rules, with a 24/7 team of auditors confirming when AI is unsure. The article also notes nearly one-third (32%) of occupational frauds are associated with a lack of internal controls.
Impact and considerations
Expense audit automation involves fraud prevention, compliance and reimbursement efficiency, with operational implications for corporate financial controls and T&E management.
Key points
- According to ACFE data, organizations lose an estimated 5% of revenue to fraud annually.
- A 2022 survey showed 89% of business travelers submitted at least one expense they weren't sure complied with company travel policy.
- SAP Concur introduced Policy Audit and Receipt Audit over a decade ago, which evolved into Intelligent Audit and then Verify.
- Verify can audit 100% of expense reports based on configurable rules, with a 24/7 team of auditors confirming when AI is unsure.
- Nearly one-third (32%) of occupational frauds are associated with a lack of internal controls.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 25 Sept 2024, 17:42
- Page published
- 14 Aug 2026, 08:12
- Last updated
- 25 Sept 2024, 17:42
- Original links
- SAP Concur Blog：Thoughtful Automation: The Development of Verify (opens in a new tab)Primary source · en · Published 25 Sept 2024, 17:42