Underlying the power of AppZen’s spend auditing capabilities are the layers of our AI-driven platform, which audits 100% of spend, uncovers problems by understanding documents like receipts and invoices, enriches decisions with intelligence from thousands of sources, assesses and refines risks, and seamlessly integrates into finance workflows.
We believe every modern finance team should audit 100% of their spend, and that’s why we’re excited to partner with TripActions®, the fastest-growing business travel platform, to bring the power of the AppZen platform to their customers.
Two weeks ago TripActions announced TripActions Liquid™ to solve the hassles of global travel payments to deliver a best-in-class corporate travel experience for road warriors, finance leaders, and travel managers alike. Starting immediately, every TripActions customer using the TripActions Liquid corporate card will automatically benefit from AppZen’s AI spend auditing technology right in the current workflow: AppZen will audit every TripActions Liquid corporate card transaction and flag the high-risk transactions for review.
AppZen already delivers the world’s leading AI-driven platform to more than 1,650 enterprise customers around the world, including one-third of the Fortune 500. We are delighted to partner with TripActions to extend the power of our technology to TripActions Liquid customers, too.
There are 3 key differentiating layers of artificial intelligence technology in AppZen’s AI-driven platform: computer vision, semantic analysis, and deep learning built specifically for finance. Our computer vision extracts important spend information from unstructured documents like receipts and invoices. Semantic analysis understands the information to identify data like dates, prices, spend categories and individual line items (there is a lot of subtlety here, to distinguish a root beer float from a beer, for example).
With those pieces of information, AppZen’s AI validates whether the spend transaction is accurate as reported. Over time, AppZen’s AI uses deep learning to carefully refine the assessment of risk based on new data points, billions of transactions, and user feedback from auditors and reviewers.
AppZen’s AI has already helped customers with:
AppZen’s AI verifies the total spent on every receipt and finds any discrepancies
AppZen’s AI analyzes every receipt for out-of-policy purchases and flags for travel managers and finance teams
AppZen’s AI checks if the attached receipt looks unusual and flags them for further review (the picture below is a real example of a submitted receipt)
AppZen’s AI analyzes when an itemized receipt is submitted to ensure the correct receipt has been attached
For more information about the collaboration between AppZen and TripActions Liquid, click here.