Home Business News Over a third of UK employers are concerned about fraudulent expense claims

Over a third of UK employers are concerned about fraudulent expense claims

by LLB Finance Reporter
28th Sep 21 12:09 pm

Global expenses app, ExpenseOnDemand, has published a new report showing that over a third (37%) of UK employers are concerned about fraudulent expense claims from their employees. The expenses app uses cutting-edge technology to track and manage claims and has saved millions in bogus claims including over £2m in false entertainment claims from one business.

According to a recent survey* businesses are losing over £2bn in employee expense fraud but cutting-edge tech is rapidly putting an end to this spending spree. Another client of the expenses app had seen huge savings after a groups of employees had been overcharging for business mileage with the total claim reaching £1.2m but once analysed through the app this was reduced to £800k.

Since the start of the pandemic the global expenses app has been updated to make it easier for the new working normal as offices stay closed, employees work from home and businesses are turning to technology for simpler and automated solutions. ExpenseOnDemand integrates and transfers data between Xero/Sage and QuickBooks ensuring the app remains a market leading solution for businesses around the globe and that it continues to work seamlessly while offering a secure and safe service for remote employees in multiple locations.

The global expenses is teaming up with the accounting software Xero this October to offer a Live Webinar on Why Automation is critical for a hybrid workforce to thrive.

Sunil Nigam, Founder at ExpenseOnDemand, commented, “Employee claims has always been difficult to monitor and manage especially when you have a larger workforce. Our cutting-edge tech is helping firms automate processes and easily authenticate claims often saving them thousands or even millions in costs every year.

ExpenseOnDemand will allow you to automate all your staff expenses and we pride ourselves on ensuring our tech is market-leading and our costs are not only completely transparent but also very competitive. We offer a 30 day free trial, with the option to “pay as you use” model, allowing our clients to have flexibility and reassurance that they aren’t tied into a long-term commitment.”

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