Expense fraud can start with adding a personal item to an expense report. It can grow to submitting the same transaction repeatedly, and snowball into falsifying receipts completely.
How can you stop expense fraud from happening in the first place? This executive whitepaper outlines 10 safeguards you can implement today.
For example, the paper recommends that you:
- use a corporate card program so that expense reports and statements can be reconciled
- require pre-approvals to increase transparency
- use automatic duplicate checking to reduce the risk of human error
So many occasions of expense fraud can be entirely avoided and caught early by implementing a configurable expense management solution. Not only does the system communicate and enforce your expense policies, but it also helps enforce them with built-in security features. This helps eliminate much of the manual work your AP team is doing at the end of the month and quarter so they can focus on more strategic initiatives.
Download the whitepaper and see if the findings match up with your organization's concerns about expense fraud.
When you're ready to learn more, we're here to help.
After all, Chrome River lets business flow.
Chrome River provides expense and invoice automation solutions that let business flow for more than 1,000 organizations worldwide. The company’s easy-to-use, enterprise-scale solutions enable future-readiness for its customers. As a result of this focus on innovation, Chrome River is rated as a Leader in expense management by analyst firm IDC. Chrome River’s commitment to delivering a superior customer journey by creating long-term value for its customers, makes it a preferred choice of CFOs, CIOs, AP teams, travel managers and business travelers. Details on Chrome River’s customers can be found on the company’s web site.
More than 2 million business travelers around the world trust Chrome River. To learn more, contact Chrome River at 888-781-0088, or visit chromeriver.com and its social pages on LinkedIn, Facebook, Twitter, and Instagram.