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With Cognilytica: Innovative Approaches to Solving Expense Report Fraud with AI

White Paper Published By: AppZen
AppZen
Published:  Jun 17, 2019
Type:  White Paper
Length:  8 pages

Occupational fraud is not a small issue. On average, a company loses 5% of its revenues to employee financial fraud each year, with the annual median loss at $140,000 and over 20% of companies reporting losses of $1 million or more. The key to keeping a lid on this fraud is identifying the fraud before it takes too much of a bite out of the companyís bottom line, or even further, to put processes and controls in place that automatically audits, monitors, and accepts or rejects transactions that donít fit an recognized pattern.



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