How to Tackle Expense Report Fraud ?

Expense Management — bujeti.com

As many business owners, you may have had doubts about the legitimacy of some expenses that you have to reimburse to your employees. This is often an unintentional error, but a lack of transparency in your expense management also exposes you to the risk of fraudulent claims.

Here are some steps to follow to avoid abuse and drastically reduce the risk of fraud:

✔️ Define a clear and comprehensive reimbursement policy
All your employees should have a clear view of what expenses are allowed, in terms of amount and type of expense.

✔️ Rely on collaborative leadership
Involving your employees in the enforcement of your spending policy and the respect of your budgets is the best way to get their commitment and avoid suspicions.

✔️ Implement control mechanisms
Transparency is the cornerstone of any good expense management system. You need to be able to control the nature of each expense incurred by your employees.

Fighting fraud requires a robust expense management process. Expense management solutions such as Bujeti will allow you to define and enforce your expense policy seamlessly.

You can sign up to Bujeti today to start issuing cards to your employees and set up spending limits and restrictions

Bujeti - Budgeting and Expense Management software for Africans by Africans

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