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Emburse Rolls Out Service For Expense Approvals

Emburse Rolls Out Service For Expense Approvals

May 27, 2021 at 12:35AM
by PYMNTS

Expense and accounts payable (AP) automation provider Emburse rolled out Emburse Audit to help organizations make sure that expense reimbursement is correct and adheres to policy, according to a Wednesday (May 26) announcement.

The offering brings together machine learning (ML) and a workforce of human auditors to save time, get rid of wasteful spending, ensure compliance and decrease fraud, the announcement stated.

Emburse CEO Eric Friedrichsen described Emburse Audit as an intelligent offering that joins intelligent technology with “independent human verification.”

“This delivers significant savings by eliminating out-of-policy approvals, and since it enables a more streamlined approval process, it also means faster reimbursements and happier team members,” Friedrichsen said in the announcement.

Emburse Audit first looks at expense transactions and compares them to standards set ahead of time to see if transactions follow an organization’s reimbursement rules. If an expense has a high chance of error, it is sent to human auditors to examine. As it stands, clients of Emburse Nexonia, Emburse Chrome River and Emburse Certify can harness the offering.

The new offering builds upon the firm’s current expense management controls by letting clients have the freedom to select the level of audit that meets the needs of their organization.

Many times, firms don’t have staff who are correctly trained to audit expense reports, so the work of upholding intricate policy controls goes to business managers or AP clerks that might have to refuse reimbursement to coworkers or managers.

However, Emburse said that its offering “levels the playing field and creates equity at work so that all employees are treated consistently according to policy.”

The news comes as Emburse acquired DVI (Data Visualization Intelligence), the travel data expert, to expand its spend management analytics functionalities for companies. Terms of the arrangement were not unveiled in a March announcement.

“This acquisition strengthens our analytics capabilities and provides customers with comprehensive data and insights to increase control and make smarter spend decisions,” Friedrichsen said in the March announcement.