Wednesday 5th August, 2020
Genpact and AppZen a leading artificial intelligence (AI) software for modern finance teams, has announced a partnership to transform travel and expense (T&E) audit processes, enhancing corporate and regulatory compliance.
The two companies will launch a regulatory compliance-as-a-service (RCaaS) solution that advances T&E operations, allowing finance organisations to automate processes and audit expenses within minutes of submission. As a result, finance and compliance teams can identify T&E exceptions in near real time, enhancing their ability to address regulatory issues, detect adherence to corporate policies and contract obligations, and identify spend leakages.
“As companies face pressures to ramp up sales targets, renew contracts, and better manage expense in response to business disruption caused by the COVID-19 pandemic, there can be risk for increased fraud and non-compliance issues,” said Alison Close, research manager, digital business operations and analytics services, IDC, a leading industry analyst firm. “Genpact and AppZen’s partnership helps companies flag potential fraud and non-compliance faster, all in a managed services solution that provides greater flexibility and resilience to address cost and productivity concerns.”
AppZen’s AI-powered software for finance teams complements Genpact’s digital technology expertise with its AI-powered software for finance teams. The platform automates manual finance processes and gains real-time insights into business spend trends by seamlessly integrating a layer of AI software into finance applications.
Genpact and AppZen allow finance teams to understand financial transactions more quickly and make strategic decisions based on company policies, all while reducing operational costs.