How many of you can honestly say that you have read your company’s expense policy? Or if you have read it how much of it do you remember? With spending very much in the hands of the employee, this empowerment comes at a cost and unless you expect staff to read the policy before spending any money, errors even without malice can occur.
How can you mitigate that risk? What can be done to ensure that regulatory compliance, internal policy compliance, fraud and employee safety are at the forefront of your organisation. By having a non-biased dedicated team to audit your expense, that’s how.
By having this additional step in your expense process, you can be sure that out-of-policy spending is prevented and that problems are stopped before they start, by auditing before expenses are approved. Start with auditing 100% of your reports to begin with and you will be able to get a better understanding of where issues are arising and spotting trends in non-compliance.
What is Concur Audit?
SAP Concur automates expense, travel and invoice processes, eliminating hours of manual effort normally associated with back-office systems and the human errors that go with it. By implementing Concur Audit expense and policy compliance can be reviewed efficiently – before expense reports are approved and without trying to recoup money you have already reimbursed.
Because those expense reports are automated, mobile and essentially effortless, it is easier for employees to follow your policies and get them done on time. This prevents delayed reporting impacting budget accruals and raising red flags in compliance review.
SAP Concur helps you put payment controls in place that improves compliance. Giving you the data and tools, you need to see spending clearly and manage it proactively – as well as audit services that provide fast, objective, third-party reviews without taking up the time of your internal resources.
How Can it Help Me?
To assist you with your audit questions we have a dedicated event taking place on the 10th September. This event is open to both customers and prospects and is being held in our Customer Experience Centre in our UK HQ. The Customer Experience Centre is an immersive environment that allows you to fully explore your audit journey and how SAP Concur can help.
To fully appreciate the interactive elements of this event spaces are limited, so book your place today and we look forward to seeing you there.
If you are already an SAP Concur customer, please register here or for new clients please use this link .