The IT leader’s guide to efficient T&E fraud detection
Today’s IT leaders face a daunting challenge. Between managing system resilience, ensuring data security, and optimizing business workflows, they are tasked with cutting through inefficiencies like manual data processing across lines of business. One of the most persistent and impact-heavy areas where manual work disrupts operations is tracking and identifying potentially fraudulent or out-of-policy spending within the realm of travel and expense (T&E) management. This inefficiency doesn’t just waste valuable time; it also leaves organizations vulnerable to errors, compliance risks, and missed opportunities for cost savings.
If you’re an IT leader looking for solutions, this tip sheet outlines seven actionable tips to help you tackle this issue head-on, including:
- Maximize security with built-in protections including end-to-end encryption, multi-factor authentication, and automated alerts for troubling activity.
- Use AI-fueled tools to improve fraud detection by scanning receipts, filling data fields, spotting anomalies and patterns, and minimizing manual labor for IT, finance, and travel admins.
- Automate compliance with solutions that easily update spend policies, check expense reports against policy, guide travelers to in-policy options, and handle pre-spend requests and approvals.
- Invest in self-serve analytics and reporting tools that come with built-in templates, customizable dashboards to monitor budgets and trends, and notifications to prevent fraud and non-compliance.
