10 tech stories you may have missed: AI on the watch
AI can now catch lies on your expense report
For companies that don’t have time to check everything on employee expense accounts, now there’s technology to do it for them. An AI accounting startup named AppZen is already helping firms such as Amazon, IBM, Salesforce and Comcast, and claims it has saved clients $40 million in fraudulent expenses since launching 18 months ago. AppZen says the technology frees up auditors to dig deeper into dubious claims and educate employees about travel and expense policies.
Why this is important for your firm and your clients: I bet if you or your clients have traveling employees, you sometimes wonder if all the expenses they’re charging are either legitimate or within your rules. Maybe you’ve got someone reviewing expense reports or maybe you just don’t have the resources to do that. AI-powered apps like AppZen will be able to automatically provide that oversight, potentially flag problems and save you and your clients money. The big guys are using this now, but soon we’ll have other similar apps available for small companies to leverage.