Concur’s CEO Steve Singh was recently featured in an interview with Jim Cramer on CNBC’s Mad Money. One of Cramer’s questions for Singh is related to fraud and employees padding expense reports. Singh mentioned that traveler behavior changes when automated systems are used to process expenses. Singh is right when he says that most travelers are honest and submit their claims appropriately. And while preventive controls exist within Concur and it’s harder to pad expenses in an automated environment, it does occur.
“Hackering” is not limited to breaking into computer systems and programs. People also hack business processes like the travel and expense process. At Oversight, we’re fortunate to be one of the App Center partners that Steve mentioned to Cramer. Our Insights On Demand for T&E are an example of an App Center solution that can address potential “hacking” of the expense reporting process.
We leverage the Concur Open Platform to provide Concur T&E customers with the ability to automatically send their Concur T&E transactions to Oversight so that we can automatically monitor and analyze T&E transactions to determine when travelers are violating travel policies, misclassifying expenses, using out-of-compliance merchants, or trying to beat the system by submitting the same expense more than once across multiple reports.
Concur and Oversight are working together so the T&E reporting process is simple and compliant for not only the 20,000 Concur customers today, but also the hundreds of thousands to come.