I was talking with a user today and the subject of expense report fraud came up. Specifically, how can Expensify be used to fight it?
Great question, and the short answer is: avoid cash and use Expensify Guaranteed eReceipts.
But stepping back a bit, let’s review the problem. As incredible as it sounds, the ACFE estimates that over $100B is lost annually to expense reimbursement fraud. Yes, Billion. T&E Magazine also report 20% of companies say outright false expenses are commonplace. So fraud is an enormous problem, and if you don’t think it’s affecting you right now, there’s a good chance you’re wrong. Indeed, it’s quite possible you have no way of ever knowing. Continue Reading…
