AppZen’s Expense Audit integrates with your expense automation system to audit every line item in your expenses in real time. By cross-referencing expenses, receipts, and thousands of online sources, our AI extracts key pieces of information from a receipt to catch duplicates, out-of-policy spend, incorrect amounts, suspicious merchants or attendees, and excessive spend.
Avoid reimbursing the same expense twice. By retaining all employee expense spend over time, AI can identify duplicate line items in an expense reports, similar receipts submitted by an employee over multiple reports, and even similar receipts submitted by different employees.
Make sure your employees are spending money at approved locations. Using thousands of online sources, AI verifies the true business category of any merchant name and flags receipts at locations where company money shouldn’t be spent. You can set the specific unauthorized merchants such as adult entertainment, spas, salons, and anywhere else you don’t want company money being spent.
Avoid reimbursing employees for expenses outside of company policy such as phone bills, alcohol, tobacco, gifts, and jewelry. Our AI understands brand names and common terms — it knows that “shots” and “grey goose” are related to alcohol, that “gold bracelet” is a type of jewelry, and that “cigars” are tobacco products. Using natural language processing, our AI knows when a cocktail isn’t really a cocktail (we’re giving you a pass, “shrimp cocktail”)
Determine if employees are overspending at restaurants. Our AI searches the internet for a restaurant’s average price per person and compares it to the total amount in the reported expense to look for missing attendees or excessive spend. While that $200 dollar McDonald’s receipt for two people was probably tasty (and filling!), unless one of you is the Hamburglar, it’s probably out-of-policy.
Stay compliant with anti-bribery provisions and corruption policies. Our AI searches online databases to verify if an attendee is a foreign official, healthcare professional, or other politically-exposed person or entity to help you stay legally compliant with the Foreign Corrupt Practices Act (FCPA) and healthcare transparency legislation.
“ We've seen team members be more cautious when submitting expenses and paying more attention to the details."
— Michael Riebel
T&E Program Administrator
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With AppZen, OPKO Health can review hundreds of thousands of transactions, giving them a level of visibility and risk management that they’ve never had before.
The aircraft maker’s Americas unit is digitizing the approval of expense reports and payment of invoices.