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The Alice in Wonderland Effect: Employee Spend During COVID-19

Since the COVID-19 pandemic began, organizations continue to see rapid change in employee spend behaviors.
At Oversight, we endeavor to study and understand these shifting trends through customer interviews, market observations and data-driven analysis – all culminating in our Spend Insights Report to provide organizations with an overview of the changing dynamics of employee spend and risk.
As we’ve compiled these reports, one thing remains true – how businesses spend money is changing, almost entirely. And, these changes are sweeping and immediate, especially when the pandemic first began.
For nearly every finance team in America, the world of “business as usual” was turned on its ear. What have we learned from this massive shift? Oversight’s VP of Product Management, Jon Lawrence, shared the five following insights with PaymentsJournal.
For all organizations, the current pandemic made it more critical than ever to keep up in real-time with changing patterns in employee spend. It’s crucial to understand where new spend risk might lie to mitigate the chance of fraud, waste and misuse.
Ready to learn more about the impact of COVID-19 on employee spend? Check out Lawrence’s full article in PaymentsJournal. For more information about how Oversight helps identify spend risk, request a Spend Risk Analysis.
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.