SAP Concur: Controlling Expense Fraud to Keep 5% of Revenue
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Expense reimbursement fraud and weak internal controls directly erode corporate profit, giving finance and travel managers a basis to assess current expense policies, audit frequency and data-monitoring capabilities.
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- SAP Concur BlogSAP Concur: Controlling Expense Fraud to Keep 5% of Revenue
Citing the Oversight Systems 2017 Spend Analysis Report, SAP Concur says the typical organization loses 5% of annual revenue to fraud, with 89% of that being asset misappropriation including expense reimbursement schemes, and 50% due to weak internal controls. It offers six tips: robust travel and expense policies, tools that make compliance easier, catching spend anomalies before they happen, reducing mileage padding, audits, and automatic monitoring of expense claim data. SAP Concur says it connects to spending data from suppliers, credit providers and other sources, and uses Concur Intelligence for reports, dashboards and real-time alerts.