Expense and Accounts Payable (AP) Automation Provider Emburse deployed Audit Emburse to help organizations ensure expense reimbursement is correct and adheres to policy, according to a Wednesday (May 26) ad.
The offering combines machine learning (ML) and a team of human auditors to save time, get rid of unnecessary expenses, ensure compliance and reduce fraud, the ad says.
Emburse CEO Eric Friedrichsen describes Emburse Audit as a smart offering that combines smart technology with “independent human verification”.
“This delivers significant savings by eliminating non-policy approvals, and because it allows for a more streamlined approval process, it also means faster refunds and happier team members,” said Friedrichsen in the ad.
Emburse Audit first examines expense transactions and compares them to pre-established standards to see if the transactions meet an organization’s reimbursement rules. If an expense has a high risk of error, it is sent to human auditors for review. As it stands, clients of Nursing Nexonia, Nursing Chrome River and Nursing Certify can take advantage of the offering.
The new offering builds on the firm’s current expense management controls by giving clients the freedom to select the level of audit that meets the needs of their organization.
Often companies do not have properly trained staff to verify expense reports, so the job of maintaining complex strategic controls falls to business managers or AP clerks who may have to deny reimbursement to co-workers or managers. managers.
However, Emburse said its offer “levels the playing field and creates fairness in the workplace so that all employees are treated consistently in accordance with the policy.”
The news comes as Emburse has acquired Data Visualization Intelligence (DVI), the travel data expert, to expand its expense management analysis capabilities for businesses. Terms of the deal were not disclosed in March. ad.
“This acquisition strengthens our analytical capabilities and provides customers with comprehensive data and insight to increase control and make smarter spending decisions,” Friedrichsen said in the March announcement.