The Issue With Fraud And How It Can Be Prevented With Expense Report Software

the-issue-with-fraud-and-how-it-can-be-prevented-with-expense-report-softwareFraud is a major problem within the business realm. However, the rise of new technologies and automated software have made it easier for people to understand their finances within their company. Expense report software allows you to track where some unethical employees are trying to exploit the system for their own ends. If you’re a business-owner struggling with expense reports, it may be wise to look into the many automated expense report softwares. It is something that can really benefit you in the long run.

Scandal Within The Canadian Government

In 2014, we saw two senators from the Canadian government charged with fraud. Both Senator Patrick Brazeau and ex-Senator Mac Harb were caught claiming improper living and travel expenses. They claimed reimbursement for travel and housing expenses for secondary residences near the national capital, Ottawa, even as they in fact lived there full-time. This deception of trust cost them in the end, but not everyone gets caught. If you run a business, you need to make sure that your employee’s expense reports are truthful and cannot be tampered with.

How Does Expense Report Software Protect You Against Fraud?

By switching to an automated expense report software, you can severely reduce the amount of fraudulent expense reporting. Because expense reports can be filed out on a smartphone and on the road, the information is available the moment it is entered, meaning they can review reports immediately rather than having to wait until the end of the month.

Custom policies can implemented within the software itself as well, so any expense report made that doesn’t comply with a company’s rules and regulations can be immediately declined and investigated. Thanks to the analytics found in the software, you are also able to look at the big picture and track any repeat offenders.

You can erase fraud from your mind by implementing an automated expense report software into your company. Many companies around the worldwide have made the switch and have never turned back. Don’t let a scandal arise in your company. Try out an automated software today!