NEW YORK: It sounds like it should have been impossible to miss, but it took more than a year for an industrial equipment company to discover US$12,000 worth of doggie day spa charges on an employee's expense reports.
That is what happened when the industrial equipment company put in place an artificial-intelligence program from Oversight Systems, which was able to quickly ferret out the culprit. AppZen analyzes expenses by looking for risk. Only about 10 percent of expenses that flow through a company have a problem that needs to be addressed, said Anant Kale, CEO of AppZen, based in San Jose, California.
AppZen also finds many expenses that are disallowed by corporate policy. Some of these are for strip clubs, in-room movies during business travel or charging gifts at a hotel shop.
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