Concur® Expense provides organizations with visibility into their employee spend, assuring that all corporate policies and government requirements are followed. In fact, using an automated expense reporting system reduces out-of-policy expenses by 40 percent. All organizations – public, private, small or large – need strong internal controls to monitor and control expenses and policy compliance. Consider these statistics from The Association of Certified Fraud Examiners:
- Occupational fraud costs the average organization 7 percent of its annual revenues
- 13.2 percent of all fraud schemes are related to expense reimbursement
- The median cost of each expense reimbursement fraud incident is $25,000
With Concur Expense, defined compliance controls are written into the solution, specific to each organization, to ensure that every expense is within policy and without fraud. Out of policy expenses, identified by your compliance controls are tagged and alerts are sent to management. Concur’s 360 degree view into all employee expense data helps organizations enforce policies and monitor compliance, all while delivering unprecedented control and valuable insight.
Organizations wanting to ensure they accurately report and properly classify expenses in accordance with corporate and regulatory policies turn to Concur® Audit. With the ability to be tailored to an organization’s unique needs, Concur Audit delivers detailed monthly reports and summaries, ensuring control and compliance. It’s a proactive process that catches fraud before employees are paid and improves control and visibility, allowing internal resources to focus on high-value tasks for the organization.
With Concur, organizations have the tools to help minimize T&E fraud and maximize compliance with company policies and government regulations, including the Sarbanes-Oxley Act.
- Comply with Section 404
- Sarbanes-Oxley Q&A
- Learn About Sarbanes-Oxley
- Take Control of Internal Controls
- Sarbanes-Oxley Links
To learn more about how Concur Expense can increase control and policy compliance in the expense management process,contact a Concur representative. today.