Posted: Mar 10, 2020
Challenge:
Companies often struggle with ensuring employees are adhering to their travel and entertainment expense policies. This can include the use of personal credit cards or not using agreed upon travel agents resulting in the loss of volume discounts, insurance coverage, and safety abroad.
Strategy:
Utilized data analytics to set policy-based criteria to identify the employees or departments that are incurring expenses that are not in accordance with policy.
Results:
Our work identified that a client had over $400,000 in travel expenses that were paid for using a personal credit card outside of the approved travel agent which meant lost dollars from the agreed upon volume discounts, among other issues. The client was then able to identify the specific employees and increase oversight into their activities.
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