Expenses: Two Ways ‘Bad Actors’ Cost Companies Money

Fraudulent and non-compliant spending costs organizations hundreds of thousands of dollars each year. Of the $1 billion in transactions analyzed for a recent T&E Spend Analysis Report produced by Oversight, 6 percent of transactions, representing 5 percent in transaction value, were out of compliance with company policy. For an organization with an average of $10 million in travel spend, this equates to roughly $500,000 in annual out-of-policy spending. Here are two of the most common forms of…