SAP Concur Survey: Fraud Risk Rising in Government and Higher Ed Finances
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The survey reveals widespread data visibility gaps and rising fraud risk among public sector and higher education financial decision makers, which can affect budget allocation accuracy and funding efficiency, posing operational and reputational risks for institutions reliant on government funding and tuition revenue.
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- SAP Concur BlogSAP Concur Survey: Fraud Risk Rising in Government and Higher Ed Finances
A survey by SAP Concur and Kelton Global of 313 financial decision makers in state, city, and local government and higher education found that 59% believe their financial tools and systems are error-prone, and 68% report making decisions without full visibility into necessary information. Two-thirds admit fraud, waste, and abuse are current challenges, more than one in four say their vulnerability to fraud risk increased in the past year, and about one-third report an increase in inaccurate expense reports and invoices. About one-quarter unintentionally reported incorrect budget data due to inaccuracies.