If you are concerned about the number, and value of employee expenses that your company is paying out for, you would certainly not be alone!
It has emerged that employees from Surrey County Council claimed expenses worth approximately £4.9million last year, for mileage and travel. This figures means a rise of 70% in expense claims over the last five years.
An internal audit review in 2017/18, discovered a further £187,000 was paid for out of pocket expenses.
The findings also noted “weaknesses and inconsistencies” in the way expenses claims were handled with staff not always including the right fuel receipts.
Cllr Peter Szanto said “At a time as a council when we have been trying to make savings as much as we can, it rings alarm bells.”
Sadly this situation is not uncommon for many organisations, but can be avoided
An automated expense process, will automatically enforce the expense policy set by your company, and accurate reporting allows for a review of where money is being spent, and will highlight areas where adjustments may be needed.
By implementing an expense management solution, like MyExpensesOnline, you will see a vast reduction in expenses fraud, particularly where mileage is concerned. You will also reduce expense processing times, and potentially save thousands of pounds!
MyExpensesOnline is all too aware how the mismanagement of expenses can be costly for businesses of all sizes. We therefore make it our mission to put an end to this culture and promote honest and fair expense practices for all our clients.