Watch our Webinar and ask your Fraud questions below to Connie and Ralph, open until 12pm PT
No matter the stage your business travel and expense program is in, there’s always the potential for individuals to commit fraud; whether knowingly or not! Fraud knows no bounds - it is happening at every level, at every company, and some employees even feel justified in committing fraud! From extra pay, to thinking they didn’t get reimbursed enough for mileage, or they worked a weekend, or to downright greed, there’s a million unjust-justifications and excuses; but no matter the reason, it is outright theft. As the owners of expense programs you need to be constantly vigilant. Your mantra needs to be “Trust, but Verify”; and we’ll show you ways to do just that!
Join our in-house experts, Ralph Colunga and Connie Hoen as they take us through ways that you can defend your business from these fraudsters and beef up your best practices. We will share some of the most outlandish examples of fraud experienced at our previous companies, so come prepared to be amused in some cases and amazed in others!
This event is an Ask Me Anything (AMA) & Presentation hybrid. Our SMEs video event will be released on this page at 11am PT on July 13th. Questions asked after the 10th, or during the SME presentation can be posed below at any time before 12pm PT on July 13th.
A question that was shot over to me is: In the video, @ConnieH mentioned using AI and Machine Learning for detecting Fraud. How is that best configured or utilized?
AI and ML are revolutionizing the use of data for making accurate predictions and decisions. Organizations should consider supplementing human auditors with AI/ML technologies so the auditors can focus on specific
circumstances where their expertise is the most helpful.
In order to use the AI/ML technology- The Intelligent Audit service (Concur auditors processing compliance checks) or Verify (Client owns compliance checks) will be needed.
I would strongly suggest if your travel and expense departments are separate, and your policies are separate then you should meet to ensure your policies are indeed aligned as a first step.
Also, if you have a corporate card program that you work with your card provider on development of questionable spend reports and definitions that they are to flag.....such as groceries, jewlers, etc.