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Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

AppZen Launches First Finance AI AppStore

June 24, 2021 GMT

SAN JOSE, Calif., June 24, 2021 /PRNewswire/ -- AppZen, the leader in modern Finance AI software, today announced the launch of the AppZen AppStore, which enables finance teams to easily automate universal expense reviews and approvals, to comply with company policies and regulations. This is the only Finance AI AppStore built specifically for finance teams, based on the thousands of expense reports AppZen’s Mastermind AI has processed for 1,800+ customers. These apps will be made available to all global customers, so they can quickly and easily automate expense policy management based on changing business needs.

“AppZen’s products are uniquely purpose-built to address the distinct intricacies and needs of finance teams,” said Kunal Verma, Chief Technology Officer and co-founder of AppZen. “We have years of learning from our global customer base and have turned that knowledge into technology accessible to all of our customers. We understand that different companies have unique needs around policy and compliance — that’s what the AppZen AppStore delivers.”

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The AppStore includes multiple, easy-to-install Mastermind AI-powered apps that solve complex expense issues, eliminating unnecessary spend, ensuring compliance, and decreasing finance workload while improving finance decisions. Customers can seamlessly and immediately integrate these apps into their existing Expense Audit solution, without the need for costly development or a drain on IT resources. The AppStore includes more than a dozen custom-designed apps, including:

  • Monitor alcohol spend in specific grants or project based-work: Any expense software can talk about alcohol spend. Mastermind AI goes beyond table stakes and actually looks at the complex details of grants, such as at a university or research institution, to figure out compliance based on stipulations.
  • Detect U.S. sales tax: During the pandemic, teams had more local and regional expenses for shorter domestic trips. AppZen’s MastermindAI can read and understand these expenses, and capture the appropriate tax by location.
  • Rental car upgrades: With more employees driving instead of flying for business, Mastermind AI reads receipts and compares line items to specific rental car company programs, to uncover hidden charges for upgrades.
  • Fapiao validation: For companies operating in China, Mastermind AI checks and flags missing or incorrect fapiao details to ensure that companies qualify for applicable business expense tax deductions.
  • Sign-in sheet detection: Mastermind AI ensures compliance with the Sunshine Act by detecting and flagging missing sign-in sheets. It validates, for example, that life sciences employees are documenting attendance when they entertain health care providers.

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AppZen will continuously update the AppStore with new offerings to help customers create greater efficiencies. By leveraging patented Mastermind AI, these apps help refine unique policies and workflows to achieve maximum levels of compliance and accuracy.

“The pandemic showed the need for quick policy adjustments based on new and unique circumstances. We helped our customers address many important issues early on, like managing remote work and safety or health expenses, and we are now making customization options more widely accessible. Post-pandemic, the changing work environment will continue to evolve, and the AppZen AppStore makes that easier to support at scale,” added Verma.

For more information about the AppZen AppStore, click Here.

About AppZen
AppZen is the leader in Finance AI software designed to deliver the only autonomous Expense and AP processing software AI for modern finance teams. Our patented Mastermind AI accurately and efficiently processes intelligence from thousands of data sources so that organizations can better understand internal spend and make smarter business decisions. It seamlessly integrates with existing Expense and AP workflows to read, understand, and make real-time decisions based on your unique spend policies, leading to faster processing times and fewer instances of fraud or duplicate spend. Over 1,800 global enterprises, including one-third of the Fortune 500, use AppZen’s Expense Audit and Autonomous AP products to replace manual finance processes, and accelerate the speed and agility of their business. To learn more, visit us at www.appzen.com.

Media Contact:
Penny Desatnik
Head of Global PR
press@appzen.com

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SOURCE AppZen