Emburse Bets on AI to Tackle Expense Management
Travel and expense solutions provider Emburse added artificial intelligence capabilities to its product suite.
Emburse AI is designed to alleviate common frustration in expense and invoice management, according to a Wednesday (Feb. 26) press release.
“Finance teams handle hundreds of detailed processes every day, where even one seemingly minor error can lead to significant financial and operational consequences,” Emburse Chief Product Officer Paul Nagy said in the release. “With Emburse AI, we’re giving users a powerful tool to minimize manual effort, improve accuracy, and dramatically reduce time spent on managing expenses and invoices. This latest milestone for Emburse sets the stage for future AI enhancements, including agentic AI, to help finance teams operate more efficiently and strategically.”
The product suite is designed to provide faster and more autonomous expense and invoice submissions, using machine learning to grasp context, predict missing or unclear information and adapt to various formats for more precise data extraction, the release said.
The AI tool can also automatically map expenses to 39 categories of Emburse Expense Enterprise users, “streamlining expense allocation and providing richer insights,” per the release.
The product launch follows a partnership last year between Emburse and accounts payable (AP) company Finexio, allowing Emburse customers to move to Finexio’s AI-powered platform, thus swapping manual processes for a digital ecosystem.
Expense management is undergoing a revolution, but many firms still use “legacy infrastructure and traditional rails for payments that have yet to fully support the latest in digital payment innovation,” PYMNTS reported in October.
“For companies with extensive legacy systems, the transition to a modern B2B payment platform requires time, investment and operational overhaul,” the report said.
Meanwhile, Jonathan Vaux, head of propositions and partnerships at Thredd, told PYMNTS in April that although corporate travel expense solutions have evolved, they often lag behind the solutions offered to consumers. Despite advancements, many employees still rely on personal tools for their travel needs, highlighting the gap between corporate and consumer experiences.
“There are lots of great things about card rails, but you’re trying to force the message into the message structure of the card, as opposed to using separate data API processes,” Vaux said. “Fundamentally, a lot of the technology now exists that didn’t exist 20 years ago that could enable a more optimized experience.”
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