Travel and expense fraud isn’t a finance problem. It’s a human problem. When employees book their own travel and then report their expenses, it can be easy to accidentally or purposely fall outside of the corporate travel policy. Meanwhile, a random expense report audit can be like looking for a needle in a haystack while doing little to help employees stay compliant.
In the latest episode of the Intelligent Business podcast, The Wall Street Journal’s Michael Barnwell explores how SAP Concur helps companies use new advances in artificial intelligence and machine learning to boost compliance and improve the detection of costly fraud, errors, and misuse.
Rather than trying to catch mistakes or fraud after the fact, managers can instead use technology to build a culture of compliance. Soon enough, employees won’t recall a time before AI audited every transaction, while detecting fraud – accidental or purposeful – will be an automatic part of the expense process.
In this episode you’ll learn:
- Why different companies have different definitions of “T&E policy compliance”
- How unintended errors can be as costly as intentional fraud
- Why random audits provide a false sense of security
- How automation makes it easy to protect against most common travel and expense fraud
The Intelligent Business podcast is a collaboration between SAP Concur and The Wall Street Journal’s Custom Studios. This new series digs into the stories behind the innovations that allow companies to become smarter about business travel. Listen to the five-part series here.