Your company may be spending less on travel and entertainment expenses, but the risk of fraud and regulatory non-compliance is spiking. Without proper safeguards in place to manage T&E spend – a major operating expense – companies face costly consequences.
To increase compliance with policies and regulations and avoid financial loss, you need complete visibility into your T&E data. This article explores how adopting an audit program that combines digital technologies with risk and compliance knowledge can unlock powerful insights that minimize risk.
Read this piece to get insights on:
- Why you need to move from reactive tracking to proactive, preventive controls with real-time monitoring through 100% review of submissions and underlying receipts – before payment
- How digital and analytics can increase your risk coverage, automate audit of receipts in multiple languages, generate efficiencies, and improve user experience
- How you can achieve savings of up to 5% of annual spends by preventing spend leakages through T&E process
Step beyond standard T&E audit approaches to enhance policy, fraud, and regulatory non-compliance risk coverage.