Travel and expense management technology provider Emburse has added new AI capabilities across its tools that the company said will make expense and inventory management easier and more accurate.
Emburse developed Emburse AI with data from more than a billion spend transactions processed by the company and designed it to handle such tasks as transcribing documents, classifying spend and auditing, according to the company. Capabilities include enhanced ability to analyze transaction data, with machine learning helping to understand context or fill in missing or unclear information in transactions, and automatically mapping expenses to an expanding list of 39 categories.
The technology has the ability to identify currencies, date formats and tax rates to specific transactions, and it can automatically extract tip information from meal expenses, according to Emburse.
The receipt and invoice capture capabilities tapping Emburse AI are rolling out globally in the company, according to Emburse. It will add more capabilities using the AI in the coming months.
"This latest milestone for Emburse sets the stage for future AI enhancements, including agentic AI, to help finance teams operate more efficiently and strategically," Emburse chief product officer Paul Nagy said in a statement.