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Spend is Down, But Risk is Soaring:

How COVID-19 has Introduced Fraud and Misuse

Download the July 2020 Spend Insights Report

 

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Organizational spend has looked quite different since the pandemic. In Oversight’s July Spend Insights Report, we highlight findings from our analysis of Q2 data, which show that spend is down but risk has soared.

Spending in Q2 lends some credence to those predicting a resurgence of business travel. In fact, airline spend is in the top 5 spend category for the first time since March 2020. The other top expenditures in Q2 closely mirror those of pre-pandemic times except for the mail/phone order category, which could be a mainstay for some time as much of this spend is attributed to work-from-home expenses like uber eats, gift cards, etc. . Fortunately, spend with merchants in the high-risk category of miscellaneous stores has tapered off, causing it to drop from the top 5 altogether in Q2. 
  

Download Oversight’s July report to learn:

  • Where spend risk has been introduced
  • The factors contributing to increased risk
  • Ways to mitigate fraud, misuse and waste
You’ll also learn about recent shifts in spend and how airline purchase activity is trending along with hotel and rental car expenditures.


Fill out the form to download your copy.

Oversight is how finance organizations use AI to tackle hidden spend risk in everything from T&E and P-Cards to payables. Instead of manually auditing a small sample of past spend, you can automatically analyze 100% of your current spend and see the actions you need to take now.

 

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