There are all kinds of ways for a business to directly lose money, and even more ways to simply fail to save it. Among direct losses, there is fraud, both internal and external, which tends to eat up revenue. Then there is waste, usually issuing from outdated and inefficient processes. And inefficiency exacts higher costs than the money that dribbles out the door – there are also the invisible losses of sales never made due to a bad consumer experience, and opportunities never pursued for lack of innovation.
$68K: Median fraud loss in the spend management industry.
1K: Number of robots DHL has recently added to its existing warehouse locations.
26 percent: Share of hearing-impaired consumers not buying hearing aids due to expense and demeaning purchase experiences.
20 percent: Portion of occupational fraud cases in the U.S. involving expense reimbursement.
5x-10x: Amount business credit lines can be exceeded due to difficulty in dynamically upping credit limits.