Some Workers Go Rogue With Corporate Budgets

Some Workers Go Rogue With Corporate Budgets

Some Workers Go Rogue With Corporate Budgets

Buying Spree  54% of employees have "gone rogue" when making purchases without advanced management approval, and 66% have made "risky" buys.

Today's workplace is presenting all kinds of opportunities for devious spending behavior on the part of employees—including outright theft—according to a recent survey from Coupa Software. In its "2013 Employee Spending Survey," Coupa reports that "maverick spending" is off the charts these days, costing nearly six out of 10 companies up to $25,000 a year in waste, fraud and abuse. And almost one in 10 say the financial burden for these ill-gotten purchases actually totals more than $100,000 annually. "The results indicate a spending culture in America's corporations that has, in many ways, gotten out of control," says Rob Bernshteyn, CEO of Coupa Software. Unfortunately for the honest workers out there—and millions of them do exist—companies will now increase their scrutiny on spending throughout the organization in an effort to undo the damage. As a result, workers may feel like they're getting nitpicked on various expense items that once sailed through the approval process. Find out how companies are taking action to curb abuse. An estimated 500 American office workers took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.
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