Compliance Travel & Expense Finance AI Did You Know?

Your expenses never stop changing. Neither should your expense analytics.

by Gary Malhotra July 26, 2021

In this edition of our “Did You Know?” series, we look at on-demand expense analytics and how management dashboards can help you take a more proactive approach to optimizing expenses. 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 employees are always on the move: meeting new customers, trying out new merchants, spending on new items, and submitting receipts from new vendors. The key for effective expense managers is to quickly identify trends and risks, and take actions to change employee behavior, improve compliance efficacy, and refine policies.

The expense types and employee groups that presented the highest risk in total expense spend yesterday will most likely not be the ones that do so today and tomorrow. You need a 360-degree view of all of your spend in one place, in real time, across all your systems. Further, you need actionable data to monitor, identify gaps, and improve the efficiency of your company’s expense policies. 

AppZen provides an actionable expense dashboard for frontline managers and executives. Frontline audit and expense managers can use this dashboard to track and assign compliance actions. AppZen also provides the ability to easily define and manage custom KPIs and dashboards, making analytics personal and actionable for you. 

AppZen provides both summary and executive dashboards for compliance monitoring. Included are 50+ analytics dashboards across spend, compliance, and operational performance. Spend analytics is provided across all expense categories and types. Further, operational metrics like high-risk spend, compliance, and auditor efficiency are easily benchmarked across companies and industries.

Our customers tell us they love the actionable aspect of these dashboards, which help them manage their T&E and AP programs more than a whole host of static reports they receive from other expense audit software solutions. 

In addition to avoiding excessive and fraudulent expense spend, you need to capture the true return on investment of your expense audit program. This requires calculating comprehensive line-level savings from rejected and re-submitted expense claims, which depends on achieving accurate reporting on 100% of audited expense data. 

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