Market Overview

AppZen Launches Insight Product to Allow Employee Same-Day Expense Reimbursement

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Insights dashboard gives holistic view of data, allows managers to
track behavior and compliance trends while removing the need to approve
every expense

AppZen, pioneers of artificial intelligence (AI) for business process
automation, today announced the launch of Insights, a vanguard product
sitting atop its audit platform allowing finance executives and team
managers from across an organization to step away from the daily churn
of expense review cycles with confidence. The enhanced platform allows
managers to monitor and review team behavior and spend, while extracting
themselves from mundane approval workflows.

Using the combination of AppZen's Insights and existing real-time
Expense Audit product, managers no longer need to approve — or even look
at — employee expense reports while the company remains compliant with
internal and SOX controls. AppZen audits and approves each report in
real time, not only saving time for managers but improving the overall
employee experience by giving companies the ability to reimburse
employees same-day — without compromising controls, accuracy, or peace
of mind.

"This is an exciting update for us as it proves how AI can truly disrupt
an age-old control and reimbursement process in finance, while massively
improving compliance and employee satisfaction," said Anant Kale,
Co-founder & CEO of AppZen. "This new product allows managers to spot
leakage, misuse, and bad behaviors across the organization. We also
understand that approving expense reports is not the best use of these
talented peoples' time. That's where this new product comes in — as the
insight layer to our expense audit product."

The Insights product was developed in response to popular demand from
existing customers, several of which are listed on the Fortune 500.
While AppZen Expense Audit answered the request for real-time auditing,
manager approvals could not be eliminated without compromising on
controls until expense spend behavior was tracked and reported. Now,
Insights gives managers inside the company the ability to improve their
teams' expense behavior over time while simultaneously removing the need
to approve every expense.

The Insights product is currently available as an add-on to purchase by
anyone currently using Expense Audit. Please see the AppZen Website
and Blog
for further details.

About AppZen

AppZen is the first artificial intelligence solution for business
process automation. AppZen's platform uses AI to automate expense report
auditing and instantly detect compliance issues and fraud. AppZen's
patented AI combines computer vision, deep learning, and natural
language processing to automatically read and understand expense
reports, receipts, and travel documents and cross-check them with
hundreds of data sources in real time to determine the accuracy and
legitimacy of every expense. This enables companies to detect fraud and
compliance issues in seconds.

The company was founded in 2012 and today works with more than 25
Fortune 1000 companies. AppZen is based in San Jose, California, with an
additional office in Chandler, Arizona. For more information about
AppZen, visit www.appzen.com,
or our Blog,
Twitter,
Facebook,
and LinkedIn
pages.

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