AppZen has developed an artificial intelligence program that can identify dubious work expense claims and educate employees about travel and expense policies. The company, which touts Amazon, IBM, Salesforce.com, and Comcast as users, estimated that it has saved its clients $40 million in fraudulent expenses.
AppZen can audit 100% of claims in real time by running receipts through an algorithm that looks for duplication, discrepancies, or inflated expenses. The program reimburses legitimate employee expenses on the same day and kicks back any suspicious claims to human auditors for further investigation.
In addition, the algorithm can compare the average cost of a flight from New York to Chicago against the amount expensed, and flag it if the price seems out of line for other similar flights that day.
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