When almost half (48%) of employees think it’s acceptable to over-expense or disregard company expense policies on a yearly basis, it's time to make the case for taking expense fraud more seriously - to understand the reasons behind it and the technology challenges that need to be overcome.
The vast majority of employees will need to claim expenses in some part of their professional life. However, just because it’s a common occurrence, doesn’t mean a relaxed approach should be taken.
In 2020, the median loss to a company of any size from expense report fraud was around €28,500 and, on average, employees think it’s acceptable to knowingly submit a fraudulent claim of up to €125.
On top of employee behaviour, businesses waste hours checking and rechecking claims with outdated, manual processes, creating the perfect storm for lost profits.
Join SAP Concur experts as they discuss the challenge of expense fraud and explore the options available to businesses to mitigate losses.
You’ll gain insight and practical advice on:
- Attitudes and mindsets underlying employee expense fraud
- Expense fraud & non-compliance challenges leaders must overcome
- How much time is wasted on outdated manual finance processes
- How technology – and AI in particular – can support efficient, compliant expense claims
Expense fraud - with many faulty expense claims happening by simple human error - is undoubtedly a challenge for today’s businesses, but fortunately there’s huge potential for change. With new tools, including artificial intelligence (AI) in particular, and opportunities to shift mindsets internally, there are ways to ease the burden and prevent further profit loss.
