$2.8B Expense Fraud Ends: World's First WhatsApp-Based Expense Software ReimburseME

KALLANG THEATER, Singapore - Dec. 10, 2024 - PRLog -- Here's a shocking reality: A comprehensive Chrome River survey reveals U.S. businesses lose a staggering $2.8 billion annually to expense fraud, with the Association of Certified Fraud Examiners (ACFE) reporting that organizations lose approximately 5% of their revenue each year, with median losses hitting $145,000 per incident.

Even more alarming? Nearly half (44.8%) of expense fraud involves personal purchases claimed as business expenses, while 34.5% involves inflated mileage claims.

The worst part? Companies are paying premium prices for software that takes two years to detect these frauds, with traditional expense management solutions charging $5 per user monthly.

For a 50-employee company, this means: Annual software cost: $3,000 ($5 × 50 users × 12 months)

This growing challenge pushed Singapore-based ReimburseME <REME> to create something revolutionary - The World's First WhatsApp-based Expense Management Software.

"When we saw organizations losing 5% of their revenue annually to fraud, while paying thousands for slow detection, we knew there had to be a better way," says Prabjeet Singh Anand, CEO of REME.

How REME Works:
The process is incredibly simple:
1. SEND the Receipt's IMAGE on WhatsApp to REME
2. Data is extracted with AI and Employee CONFIRMS it!
3. Then you, the approver APPROVES it!  <No app download needed>

How REME Stops Fraud:
- Advanced AI Data Extraction: Instantly detects alterations, catches handwritten receipt fraud, and validates authenticity
- Pre-approved Vendor System: Set your approved vendors list, automatically flagging any personal expense attempts
- Real-time Policy Compliance: Every receipt is automatically checked against your preset company policies in 60 seconds
- Instant Fraud Detection: Catches duplicates, alterations, and suspicious patterns immediately

The REME Difference:
- First 3 months: Completely FREE
- After trial: Just $0.99 per month
- Your savings: $2,406/year

"We believe in try before you buy," adds Anand. "That's why we're offering 3 months completely free. Experience how WhatsApp can transform your expense management."

Start Now;
Try REME free:https://reme.peoplecentral.co/auths/newSignup-page
Learn more: https://reimburseme.ai/
Questions? Email us: business@reimburseme.ai

Sources:
- https://www.businesswire.com/news/home/20160329005218/en/Expense-Fraud-Costs-U.S.-Employers-2.8-Billion-per-Year-Shows-Chrome-River-Survey
- https://legacy.acfe.com/report-to-the-nations/2024/?utm_campaign=202403-2024-RTTN&utm_medium=organic-social&utm_source=acfeinsights