Startup offering new tech to stop expense account fraud

WASHINGTON TWP. — A suburban Detroit startup called Validu has introduced an app and software to prevent expense account fraud by offering real-time event monitoring and auditing of customer engagement events — in other words, meetings and sales calls.

Validu is a mobile event monitoring tool for customer engagements that replaces a traditional paper sign-in sheet and lengthy retroactive audits. Validu says its system eliminates fraudulent reporting, wasteful spending and non-compliant behavior in a single, easy-to-use application.

Validu allows employees to check-in event attendees via an in-app photo capture, an electronic signature or a biometric social signature. In addition, Validu produces a GPS date-and-time stamped report to document each event or client interaction.

Validu requires no hardware, physical set-up or licensing fee. After a download to a mobile device, Validu users create events in the application for each meeting or function they attend. Validu then prompts users to authenticate attendees at the events, using one (or all) of the three validation options.

Validu is currently pursuing integrations with CRM and expense management platforms to input customer engagement details autonomously.

“Validu is working on collaborations and integrations with expense management organizations, to trim down the expense reporting time into minutes, rather than hours, powered by clean data,” Validu CEO Matt Kavanaugh said. “Also, CRM platforms to capture real-time customer engagement information. Through simultaneously pushing validated clean data to expense management and CRM partners, field employees become more efficient and more accurate with their daily job functions and regulatory reporting requirements. Validu will remain laser focused on integrity management with new and exciting cutting edge innovations bringing multiple disciplines together by ensuring clean data documentation and integration-based innovations.”

More at https://validu.net.

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