Most businesses have altered operations to adapt to challenges presented by COVID-19. At Oversight, we’ve been mining data across industries and assessing the impact to help support your spend management efforts. We’ve summarized our findings in this report, and we’ll be providing more spend insights in the weeks ahead as we all work to navigate the now and prepare for the next normal.
Airfare and hotel cancellations have triggered an exceptional number of credits. Even at the best of times, credits can be difficult to reconcile and are an exposure point for financial loss or misappropriation of funds. But now, organizations are dealing with an unprecedented number of credit transactions.
Despite lower card spend, exposure to risk remains. Adapting to the challenges introduced by COVID-19 requires continuous monitoring and analysis of spend activity. Armed with greater insight, you’re better positioned to identify risk early, shift focus to high-risk activity, and put stronger controls in place.Agility is key in this time of uncertainty. Oversight is here to help you determine the best path forward. Learn more about improving your visibility into spend risk by clicking the link below. Or, if you’re a current customer, reach out to your Oversight client success manager for support
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