Topics Discussed
It’s said, “Good things come in pairs.” In the case of travel and expense (T&E) and purchase card (P-Card) transactions, this bit of wisdom could not be further from the truth. Duplicate expenses are a persistent issue for companies, and a pain for everyone—travelers, their managers, and the finance team.
Submitting the same expense twice is one of the most common errors employees make; Oversight’s Spend Analysis found that 10% of travelers have at least one duplicate expense. In most cases, duplicate expense submissions are honest mistakes. However, occasionally, they are attempts to commit expense fraud by double-dipping. Whether intentional or not, duplicate expenses are an area of vulnerability for corporate spending programs.
5 Hidden Places to Uncover Duplicate Expenses
Don’t pay someone twice
Double dipping and duplicate expenses add up over time. To eliminate duplicate expenses and risks in corporate spend programs, innovative companies are implementing artificial intelligence to automatically analyze 100% of expenses across ALL expense reports, purchase card transactions, and accounts payable data to identify fraud, non-compliant purchases, and wasteful spending. With an AI-powered solution like Oversight Insights On Demand™, you can prevent duplicate payments, track repeat offenders and find the root cause of behavior that needs to be corrected, so you can educate employees and vendors, and avoid compliance risk.
Demo Oversight to see how you can stop being duped by duplicates in your corporate spend program.
Sarah Zoloth is a Solutions Consultant with Oversight Systems.
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