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The use of corporate cards is on the rise, but along with distributed buying power and ease of use come challenges, such as ensuring adherence to expense policies and preventing fraudulent spending. Did you know that nearly 33% of employees with P-card access make blatantly fraudulent purchases? That 7% create a purchase out of thin air and expense it as an “out of pocket” purchase? If these behaviors sound familiar, your organization needs our two secrets.
In last month’s white paper we detailed six tips to trim the spending waste in your T&E program, and the topic was so popular we decided to take it one step further and discuss fraud prevention. This month we are giving you the two secrets you need to implement after card use to help your team detect out-of-policy purchases.