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Experts concur: artificial intelligence & big data is the next generation of expense audit.

July 20, 2015 / in Expense Reports Audit & Compliance / by Mark Beasley
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AppZen Expense Audit, is an automated expense audit solution that uses a patent-pending blend of natural-language processing and artificial intelligence technology to audit every expense line on every expense report automatically.

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Being in sales and marketing for more than 20 years, I have submitted countless expense reports using a variety of different solutions. But none of them had an efficient solution for expense audit. And then I learned about AppZen Inc., a big data software company based in Sunnyvale, CA. They have developed the world's first automated expense compiance and audit solution using a patent-pending blend of artificial intelligence and web-scale big data for detecting fraud, misuse and other non-compliant expenses, automatically.

 

Three key issues facing expense reports audit today:

 

1) Cost: Non-compliant expenses cost companies millions of dollars annually. 

 

2) Difficult: Accidental and fraudelent claims are very hard to detect by todays leading T&E expense management applications. 

 

3) No ROI: A thorough expense report audit can actually cost more to perform than what the results recompense. Even for companies that have deployed enterprise systems to flag tolerances, policy violations, receipt mismatches, etc. It is still either very difficult and/or very time consuming to perform an expense audit.

 

Perhaps these reasons are why companies in general overlook ways to improve expense audit. There has simply not been an easy, simple, or affordable option. Until now. AppZen Expense Audit, is an automated expense audit solution that uses a patent-pending blend of natural-language processing and artificial intelligence technology to audit every expense line on every expense report automatically.

 

The results are provided within minutes of when an expense report is submitted. So, instead of managers having to review all reports before approving them, AppZen automatically flags only those reports with potential issues.

 

Experts concur that big data and artificial intelligence provide next generation capabilities, and now AppZen is the first and only solution that uses big data and artificial intelligence to automate expense report audit.

 

AppZen Expense Audit works with any T&E solution like Concur, SAP, Oracle or other custom systems and provides results immediately. AppZen analyzes not only expense report data, but also scans receipts, analyzes travel bookings, and then merges it with web scale big data to provide comprehensive research and results that human auditors have difficulty detecting, saving companies millions of dollars annually. 

 

Download the whitepaper to learn more.

 

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Tags: Expense Reports Audit & Compliance

  

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