Vivek Kumar Singh

215118061
APPZEN
Introduction:
AppZen is the world’s leading artificial intelligence (AI) solution for office processes. Its
patented AI technology combines computer vision, deep learning, and natural language
processing to automate expense report auditing and detect intentional and accidental
compliance issues and fraud. The AppZen platform audits 100% of expenses – faster and
more effectively than a team of humans by automating the process of checking every
expense against T&E policies, VAT, FCPA regulations, IRS rules and regulatory
requirements.
AppZen started with T&E expense business processes, as there was an immediate need
and gap in the market. The broader vision for the company is to quickly expand product
offerings into other business processes across the enterprise to become the leader in back
office automation. AppZen also plans to launch invoice auditing later this year.

Levaraging AI to transform operations:

AppZen’s proprietary AI-driven auditing and compliance platform reduces audit costs for
customers by 80% and annual T&E spend by up to 5% while improving financial risk
detection by ten-fold.
AppZen customers are now able to audit 100% of expenses when previously the reality
was more like 10-20% due to time and resources pressures. After invoices, expenses are
the biggest liabilities for any company. When a company gets to audit 100% of expenses
in great detail and in real-time it’s an absolute game-changer. AppZen is paving the way
to show how AI will transform enterprise operations – improving processes, management,
risk detection and planning across the entire company.

Changing the dynamics of expense auditing:

The AppZen platform reduces the need to process huge volumes of expense reports
manually. For instance, if an auditor is tasked with analyzing all of the organizations’
expense reports – what would she do? She’d examine line items, and manually cross-
reference all the information on the receipts on Google, TripAdvisor, Health Care
Provider (HCP) databases and dozens of others to validate their legitimacy. She’d check
for duplicate expenses, mislabeled items, and out of policy purchases – and it would take
days, weeks, or months depending on the number of employees. AppZen takes all of the
expense reports submitted and runs them through the exact same process, in seconds.
Moreover, AppZen goes beyond human capability to look at expense behavior across
time and employee.
AppZen partners with major expense platforms like SAP Concur, Oracle, and Coupa to
round out the solution with real-time expense report audits.