Verify Applies Artificial Intelligence and Machine Learning to Simplify Expense Auditing

SAP Concur Team |

The pandemic has brought about significant changes in employee spend and expense behavior. As workers transitioned from the office to working from home, uncertainty about what was an allowable expense led to accidental policy violations for many companies.

In fact, we see in SAP Concur data that the proportion of expenses categorized as “Other” increased by 58% from 2019 to 2020. The pandemic has undoubtedly heightened the business need around enhanced audit capability.

The SAP Concur organization has a rich history of developing technologies that address the needs of the biggest companies in the world, all the way down to very small businesses. Verify, a new SAP Concur offering, discovers potential spend issues for customers of all sizes. Planned to launch in the third quarter of 2021, Verify can evaluate 100% of a company’s expense reports and identifies anomalies, allowing company auditors to focus only on potential problems, increasing efficiency and allowing them to take steps to correct out-of-policy behaviors.

Learn more about this new solution in the SAP News Center.