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Top 5 Spending Behaviors That Increase Your Company’s Risk

For enterprise organizations, spend risk comes in many forms. Waste, misuse and fraud can result in devastating losses as the cost of these discrepancies begin to increase. Without any insight into spending behaviors and trends, finance teams may not detect a suspicious payment.
In our recent blog post, What Is Spend Risk?, we identified the importance of understanding organizational spend risk and the appropriate AI-powered strategy. But what spending behaviors should finance teams flag?
These are the Top 5 behaviors that increase risk:
These behaviors and spending decisions can have a drastic impact on an organization’s financial performance, especially when all these varied non-compliant activities begin to add up. It’s essential to look for patterns in spending behavior to address the root cause of an issue.
Sometimes, this might boil down to an employee who doesn’t understand the policy. Other times, an employee might be purposefully abusing policy and finding loopholes.
No matter the case, it’s critical that organizations have a complete view of their spend risk to adapt policies, inform employees and create a more compliant culture that mitigates the chance for future fraud and misuse.
Oversight is the leader in AI-powered spend monitoring and control. Our platform helps finance teams find risk, eliminate noise, automate resolution, and improve audit outcomes. From duplicate payments to policy violations and fraud, Oversight continuously analyzes 100% of transactions to surface what matters most -so your team can reduce waste, enforce compliance, and protect the bottom line with less manual effort.