Known losses of $348K over 58 months, Organizations lose 7% of their annual revenues to fraud (2008 ACFE Report to the Nation). Expense reimbursement accounted for 19.5% asset misappropriation fraud cases (2008 ACFE Report to the Nation). 19% of business travelers admitted to padding their expense reports (T&E Magazine)
Automation of in-process T&E card review. Distribution of exceptions managed through automated workflows.
Eliminated manual audit of expense reports. Identified 34% of total expense report lines as potential source of error or fraud. Identified and aggregated root causes of policy violation leading to opportunity for training and policy review and enhancement. 40% reduction in T&E audit staff
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