Expense Fraud Whopper: Nearly $190K Reportedly Went to …
A mistress! A UK worker who used his expense-fraud gains to shower his Argentine mistress with presents will now be showering with other inmates as he serves out his two-year jail sentence. Phillip Tamplin, 53, had been an employee of the British telecommunications company of BT Openreach since he was 16. The Telegraph reports over the last two and one-half years of his employment there, he submitted more than 100 false expense reports to the tune of nearly $190,000.
FraudBribes, Speed Money, Extortion, Expense Reporting Fraud
Bribery and fraud are not words you want associated with your company, but avoiding them may not be as straightforward as you think. Corruption doesn’t always come barreling in like a freight train. It can slither in like a snake, striking when you least expect it and are least prepared to handle it. A recent piece in McKinsey Quarterly examines the most common types of corruption companies can face in the global marketplace along with actions they can take to keep it at bay.
Expense ReportsShould Your Business Approve Luxury Hotel Expenses?
Travel expenses can be pretty high to begin with, making the idea of luxury hotel stays for employees seem ludicrous. But that added bit of luxury can go a long way toward offsetting the bustle, headaches and hassle of corporate travel. Buying Business Travel says investing in the well-being of your regular business travelers can pay off handsomely.
Expense ManagementIntegrate Corporate Cards with your Travel and Expense Solution
I know, I know. The thought of employees running rampant with activated plastic in their hands can sound a little scary at first. Especially when we hear some of the real-life stories of poor decisions with corporate credit cards like lottery tickets, cosmetic surgery, and pet food! But the flip side includes benefits for both your company and your weary business travelers. So whether your company calls them company cards, travel cards or T&E cards, consider these benefits:
For Travel ManagersWhat Did Marilyn Monroe Wear When Traveling With Her Boss?
Not the same thing you would wear when traveling with your boss—that’s for sure! So, is there actually such a thing as etiquette when traveling with your boss— and guidelines on what to wear? Indeed! One man taking his first ever business trip found out the hard way. Here are some tips to follow that will keep you in the comfort zone and make you shine like the professional that you are when traveling with the Big Kahuna!
Expense Management, For CFOsWhat Do Victoria’s Secret, Big Data and Predictive Analytics Have in Common
2014 was the year that talk of Big Data seemed to be everywhere. From office water coolers to dinner parties, conversation included talk of data, predictive analytics, and the cloud.
For CFOs5% of Employees Account for Most Corporate T&E Fraud
Many companies have employees who regularly travel for business. Top execs may need to be on-site to manage multiple offices, specialists may need to attend conferences and give workshops, and sales, customer service, and technical support reps may need to visit customers to generate sales and foster business-client relationships.
Business Travel, FraudWhat’s Organizational Clutter and Why Should You Care?
Is the complexity of your office environment making business more difficult? Clutter can be defined as scattered items or, for businesses, disordered processes that impede or reduce organizational effectiveness, productivity and revenue. The manufacturing industry has spent decades de-cluttering their factory floors, machining processes and assembly techniques. Today, unfortunately this is no longer limited to manufacturing; the typical office environment has extreme organizational clutter.
Expense ManagementSurvival of the Fittest: Be Ruthless or Die
When it comes to survival of the midsize firm, you have two choices. You can be ruthless. Or you can die. Time is your biggest resource and the one most often abused. Because of the precarious spot in which midsize companies are wedged, inefficient use of time will kill you every time.
Accounts Payable, Expense Management, For CFOsThe Secret Test To Assure Superhero Hires For Your Finance Team
When it comes to hiring finance staff members, the traditional hiring process may not be enough to ensure you’re getting the best candidate for the job. Candidates may shine at the interviews, ace your proficiency tests and amaze with their litany of technical skills, but you won’t really know what they're all about unless you throw a real-world financial dilemma into their lap.
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Our choice of Chrome River EXPENSE was made in part due to the very user-friendly interface, easy configurability, and the clear commitment to impactful customer service – all aspects in which Chrome River was the clear winner. While Chrome River is not as large as some of the other vendors we considered, we found that to be a benefit and our due diligence showed that it could support us as well as any large players in the space, along with a personalized level of customer care.
We are excited to be able to enforce much more stringent compliance to our expense guidelines and significantly enhance our expense reporting and analytics. By automating these processes, we will be able to free up AP time formerly spent on manual administrative tasks, and enhance the role by being much more strategic.