Since 2015, many exciting things have happened at Oversight Systems, including the launch of a handful of new Insights in the T&E module. Let’s take some time to get to know these new “Insights” better and welcome them to the Oversight Insights On Demand for T&E family.
In early 2015, Oversight introduced a new Unusual Mileage Insight that helps to identify employees who are abusing the company’s expense reporting system in the form of “double dipping” for claims related to the use of a personal car for company business. This new Insight includes three different types of analysis to help get your mileage claims under control.
Did you know: Mileage allowance rates are intended to reimburse employees for both fuel and wear and tear on their personal vehicle when they drive it to carry out company business. However, there are various ways that this mileage allowance can be exploited to put extra (unearned) cash into the employee’s pocket, and the Mileage Insight specifically looks for these instances/patterns of corporate card abuse. We look for:
-Extra Fuel Charges –If you have employees submitting mileage claims and also charging their fuel purchases on their corporate card for the same trip, then the company is essentially paying for that fuel twice.
-Expensing Mileage on Auto Rentals - Some employees may think of a mileage claim as a reimbursement for the hassle of driving long distances on behalf of the company, whether they use their personal car or not. These employees tend to submit mileage claims for the number of miles driven in a vehicle they rented using their corporate card.
-Duplicates– When you have employees submitting large monthly mileage reimbursement requests on different expense reports, it is nearly impossible for an approving manager to catch those up front. And if they aren’t on the same day or for the exact same amount, a traditional duplicate audit probably won’t catch them either. Some of these monthly mileage claims can be over $500; a tricky way for an employee to “accidentally” give themselves an unofficial bonus.
There are a few ways that you can get the benefit of Oversight’s T&E Unusual Mileage Insight:
-If you are already an Oversight customer, you can choose to add the Mileage Insight to your list of insights that you currently run.
-If you are not yet an Oversight customer, then the Mileage Insight will be run for you during an Oversight Test Drive along with other T&E Insights, so that you can evaluate if the Mileage Insight is right for your company.
Ready to get started? Click here to apply for a free Test Drive now.