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Thoughtful Automation: The Development of Verify

1reports1reporting sources2024-09-25Update

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Verify helps businesses automate expense auditing, reducing fraud and non-compliance while easing team workloads. The combination of AI and human review ensures accuracy.

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9月25日
  1. SAP Concur Blog
    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.