AppZen combines patented deep learning, computer vision, and semantic analysis with intelligence from thousands of online data sources. These sources allow AppZen to recognize and authorize expenses on approved lists and highlight infractions. From this data, AppZen scores employees on a behavioral index tabulated through past expenses.
AppZen was founded by Anant Kale and Kunal Verma in 2012 and is based in San Jose, California, with additional offices in Tempe, Arizona; London, England; and Pune, India.
The AppZen platform audits expense reports to spot compliance issues, waste, and potential fraud prior to reimbursement. All extracted receipt and document data is cross-checked against internal policies and online data sources to spot discrepancies. Managers can use the Expense Audit dashboard to determine top spending areas, identify high-risk employees, and mark false-positives.
The tool can also be used to audit invoices prior to payment and to spot compliance issues, incorrect rates, and potential fraud.
AppZen monitors supplier contract terms to enforce compliance across the AP process.
AppZen's Insights provides supplier invoice automation. Through Insights, supplier invoices are audited for errors, fraud, and out-of-compliance spending. Contract intelligence offers analysis of key dates, terms, and pricing to find expired certificates and potentially problematic signees. Insights also offers low-risk expense report approval and finds incremental supplier cost increases or supplier cost spikes.
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February 24, 2022