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AppZen introduces automation for financial and compliance processes

AppZen, a leading AI solution for modern finance teams, is releasing an upgraded version of its AppZen Platform, allowing users to automate complex financial and compliance processes.

With the AppZen Platform, customers can now automate use cases such as:

  • Automatically comparing vendor invoices with shipping documents like Bills of Lading (shipper, consignee, carrier, load number, quantities (pieces, pallets, weights, temperature, etc.) to ensure accurate invoicing
  • Reading credit card statements in place of receipts to identify expensed items and confirm that they are in policy, based on semantic understanding of the spend
  • Automatically extracting data from contract documents and SOWs comparing it with financial statements and identifying risk when necessary

The AppZen Platform helps finance teams extend this percentage by automating more complex manual processes that require finance domain knowledge, human review, and understanding of financial transactions and scanned documents and images.

“I'm interested in applying AI and the AppZen Platform to my compliance, audit, accounts payable, and expense departments because I have a finite team dealing with a very large number of transactions,” said Peter Sperger, chief compliance, internal audit, and information security officer at OPKO Health, Inc. “AppZen looks at every transaction and allows my team to focus on the de-risking process.”

For more information about this release, visit www.appzen.com.

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