Receipts are necessary to provide proof when audited, compliance with federal and state laws (as applicable), track assets, and to facilitate the return process. Many organizations are either imaging their receipts electronically or keeping the hard copies to support these rules. RECEIPT-WISE validates that receipts are actually where they should be and contain the information necessary. We review all relevant expense reports to ensure they have been submitted, chasing down the ones that are missing. Once the expense report and receipts are where they should be, we read documents to validate the SKU level details are present, the purchase was related to the business at hand, and that the expense report was submitted in good order.
After performing the expense report and receipt review, we organize the monthly findings in quick, easy and prioritized buckets. Whether it is showing you the top 10% of employees with non-compliant behavior, missing receipts, suspected fraud we provide summary and detailed knowledge to suit a variety of departments and needs. As a service, we are your go-to person for identifying these situations and communicating with your various stakeholders the pertinent information.
- Savings – reduce fraud
- Savings – significantly reduce internal review time
- Mitigate program risk
- Compliance with state and federal laws as applicable
- Prioritize employees for dialog and further research
- Reduce internal audit findings