How, why, and how often do expense
submitters cheat their employers?
Fool you once...well, it happens. Fool you twice, and like many organizations, you have a measurable and persistent issue with fraud. It most often occurs on a small scale, but repeatedly. And while the vast majority of employees consider themselves too honest or principled to submit inflated and illegitimate expenses, we found some revealing trends among the exceptions that might force you to rethink your strategy.
In a May 2019 survey of frequent and semi-frequent business travelers, we discovered that among those who have never committed expense fraud, only four percent said it was because their organization's expense process make it difficult to get away with.
Travelers who submit expenses manually commit expense fraud at more than twice the rate of those who use automated expense software. Who are they? Men under the age of 35 are almost four times as likely as the average, the data showed, and the most common types are claiming extra mileage, adding personal purchases, or inflating tips. The amounts are usually small enough to go unnoticed – less than 50 dollars per expense report over two-thirds of the time –and the most common reason was to make up for other small expenses employees couldn't submit for reimbursement.
Less than 15% of of those who had submitted fraudulent expenses have been caught by an employer, more than three quarters of those self-reported transgressors have done so more than once in the last two years, and over a third of them are habitual perpetrators who had falsified expenses more than five times and have no intention of stopping.
Download the whitepaper using the form to the right and see if the findings match up with your organization's concerns about expense fraud vulnerability. And when you're ready to learn more, we're here to help.
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.
Our firm saved over 1 million dollars in travel expenditures [last year] as a result of implementing the Chrome River Expense Pre-Approval process.
It is taking us just one quarter of the time to manage the expense process as it used to.
Chrome River takes all the guess work out, forces the user to be crystal clear on where they put their money and allows us to effortlessly reimburse them.