Travel & Expense Finance AI Did You Know?

When it comes to corporate expense audits, one size does not fit all

by Gary Malhotra August 3, 2021

In this segment of our “Did You Know?” series, we look at why amount verification per expense type can help control excessive spend and policy violations. This ongoing series highlights the capabilities and benefits of AppZen Expense Audit, bringing you deeper into what makes it tick and how you can take advantage.

Your expense audit program does not have to fit like a square peg in the round hole of your expense management solution. Let’s face it, not all expense management systems nor all expense auditing solutions recognize that each expense type is very different. 

Most progressive corporate expense policies have different threshold triggers for different expense types. The spend thresholds, risk levels, and price variations in airline flights are very different from rental cars, hotel rooms, restaurant meals, and client entertainment. Managing and auditing each of these types with the same approval thresholds and risk triggers would be sub-optimal.

Expense Audit solutions need to recognize these variations when detecting triggers for possible spend and policy violations. Not doing so can lead to a lot of false positives on the one hand, and a lot of missed opportunities on the other. If the underlying expense management solution does not provide for the required functionality to enable these, then companies cannot enforce their own policies.

For expense management systems that don’t allow tailoring thresholds per expense type, AI-powered expense auditing software like AppZen can step in and make up for the gap. AppZen’s Expense Audit software allows the setting of audit triggers for different thresholds by expense type, such as a higher trigger for flights and a lower trigger for a meal. This enables your auditors to get meaningful alerts based on an understanding of the context of each expense type, and the content of each expense receipt for that expense type.

With AppZen’s Mastermind AI, high-risk, high-dollar-value, and time-sensitive transactions across various expense types can be identified more easily, as these meet the criteria that make sense for each expense type.

Wondering what else AppZen Expense Audit can do? Check out the rest of our “Did You Know?” series, check out AppZen Expense Audit on the web, or reach out!

Gary Malhotra

Sr. Director of Product Marketing