If your company acts like most financially-concerned businesses, you’ve already implemented at least some internal controls to uncover and prevent fraud within your expense system. Maybe you’ve tied spend limits to your purchasing cards. Or, perhaps you are restricting use on specific merchant category codes (MCCs). But while these steps are all important and useful, […]
Taking Your Fraud Control to the Next Level Read More »
Artificial intelligence (AI) solutions have been implemented into purchasing, finance, sourcing and procurement processes in a myriad of different ways. We see AI’s influence in the automatization and augmentation of various tasks with the goal of increasing efficiencies. As IBM puts it, “businesses that want to stay competitive … need to have deeper insights into
How AI Shines a Light on Data Visibility Read More »
Stopping wasteful higher education spending sounds easy enough when controls are in place. The internal controls, such as policies addressing spend limits or prohibiting personal purchases, have a significant impact on the purchasing behavior of employees. But what if these controls are outdated, perhaps unverified, or worse, unknown? The outcome could leave the institution vulnerable
Five Best Practices to Stop Wasteful Spending with Better Data Visibility Read More »
When discussing ways to improve your organization’s internal spend controls, it is helpful to take a holistic look at your spend program as a whole to identify areas for improvement. Often, we find that organizations can make significant progress just by getting a better hold of their spend data. The data is there, it’s just
The Difference Between Spend Data Visibility and Transparency in Purchasing Read More »
Just because a purchase looks legit from the outside doesn’t mean it is.
Don’t Let Personal Purchases Make You an April Fool Read More »
In the world of purchasing and procurement, especially as it pertains to corporate credit cards such as P-Cards and travel cards, we have a tendency to focus on the negative. Fraud. Misuse. Abuse. Maverick spend. Split transactions. Wasteful spending. It makes sense to spend a lot of time thinking about problems that could be plaguing
No Luck Needed: Spotting Green Flags in Your Spend Data Read More »
