Emburse has launched a new AI expense compliance tool that it says checks for errors and policy issues prior to submission as well as post-submission.
The company said its Emburse Assurance tool was trained on "billions of expense transactions" to perform checks on receipts before submission, catching such errors as missing tax information or receipts that should be itemized. The tool prompts employees to correct those errors before they submit the receipt, which Emburse chief product officer Paul Nagy said cuts down on the "clerical noise" in expense management.
"The constant back-and-forth between employees and approvers doesn’t just waste time and money; it creates blind spots for finance that allow real risk and fraud to slip through," Nagy said in a statement. "Emburse Assurance changes that equation by bringing intelligence earlier on in the process, before expenses are even submitted."
Companies using the tool have the option to decide which checks are performed prior to submission, according to Emburse.
Once receipts are submitted, the Assurance tool can catch issues such as duplicate expenses, receipts generated or altered by AI and unusually high levels of spending for a situation. It also can translate receipts from 32 languages to catch out-of-policy spending. Each expense is assigned a risk score so that human auditors prioritize what they review, the company said.
In addition, the tool provides analytics showing time savings through the pre-submission alerts and quantifying what issues the AI checks are finding. With that data, companies can adapt their policies to address rules that are being violated frequently, the company said.
The Emburse Assurance tool currently is available as an add-on for users of Emburse Enterprise, formerly Chrome River. It will expand availability to users of Emburse Professional, formerly Certify, as well as Emburse Spend and Emburse Captio on March 31.